The Perfect Home For You

The house and lot that works for you are different from the type of home you wish to build your family. Your taste in your twenties is different from what you look forward to in your thirties. Most of all, your pocket can afford more with what you earn after years of service than what you gain now.

The perfect home is different for each. It varies based on experience, occupation, financial capability, and necessity. A condo in Pasig works for cosmopolitan individuals working at Ortigas CBD. In contrast to these, families would rather have affordable housing in Cagayan de Oro city as they prioritize sustainability above anything else.

It's essential to figure out the abode to live in to avoid wasting time on home searching. You can learn more about the different dwellings in the market by reading the list below. Keep in mind that the structure and definition may vary per country.

1. House

A family house is a free-standing building on a block of land. Both the building and the piece of land is under the same owner. There are two types of houses on the market - a detached house and a semi-detached one. Detached homes are entirely free-standing while semi-detached ones are those connected by a common wall. Though a wall connects the buildings, the property and land remain at the discretion of each owner.

2. Townhouse

The building stands on a property shared by several homeowners. It is an example of a home in a complex. The houses are side by side with two or more residences including different floor plans are under one roof. Townhouses always come with two floors.

You find most townhouses in large complexes with high-security features. The complex also comes with high-class amenities and facilities such as swimming pools, gym, kiddie parks, and jogging paths, and relaxation spots. Thus, this type of home is ideal for growing families. A family with children less than five can have a room for themselves. They have enough space to move and explore their interests without sacrificing comfort.

3. Apartment

An apartment is a building with multiple units. It can be a condominium or a townhouse. The units are available for 6 to 12 months of lease depending on the contract. The occupants are called renters or tenants as they do not own the property. They share common internal and external areas such as the hallways, porch, backyard, and parking space. Because of this, they must pay fees to maintain the common areas.

The rental is fit for travelers or people who regularly have to move because of their profession, business, or other life events. The short-term contract takes out the commitment of maintaining a house. The most prevalent rental type is the studio type unit. It is self-contained space with a living room, bedroom and kitchenette and a bathroom. It is the smallest of apartment spaces with the lowest of the rental fees. Hence, it is common to those starting out with their lives - the twenty-somethings. Consequently, townhomes rented to tenants could also be a perfect place for families and larger families.

4. Condominium

A block or a unit of a condo is available an fit to be a dream home. A condominium unit is a privately-owned apartment. There are different types of condominium units which depend on the size and floor plan in the market. A purchase of a condo entitles the owner control over it. The acquisition also comes with additional costs and expenses such as homeowners' membership fee, monthly parking dues, and maintenance of the recreational areas.

Meanwhile, a block of a condominium or buying the entire building and land removes the buyer's obligation to settle fees. The buyer becomes a tenant and the tenants answer to him or her instead. Most low and mid-rise condominiums on the outskirts of the city or less developed areas are affordable and suited for home living.

5. Villa

A villa is a one-story building attached to other properties such as land owned by a developer or a third-party. Similar to a townhome, owning a villa comes with fees.

6. Acreage

An acreage is available in rural areas where vast lands are still untouched. It is a massive plot of land with a house. 

7. Retirement Living

Examples of retirement living are properties with care attached to them. These are nursing homes or buildings built for retired individuals. Not all countries have retirement living. Some nations, like Australia, only allow people over 55 to settle on these types of homes.

These seven types of properties will expand your knowledge on different abode. You can now choose the one that fits your needs, finances, and level of comfort. Whether it's a house, townhome, villa, condo or acreage, there always something perfect for you in the real estate market.

Note: This post was first published on January 26, 2010. The post was updated for the accuracy and comprehensiveness of its content.