How to find your perfect home type

When it comes to selecting the appropriate property, prospective homeowners have so many more possibilities! From a single-family home to a condominium to a modular home, the options seem to be almost limitless. But before you look at more homes, let’s look at what makes different types of housing different and which one is best for you! 

Unsurprisingly, 53.6% of Canadian families reside in detached single-family homes. More than one-quarter of homeowners (27.9%) choose condos, placing them in a distant second place (especially in metropolitan areas such as Toronto and Vancouver). Next came duplexes, with a 5.6% market share. 12.9% of the market is made up of semi-detached homes, mobile or modular homes, and other single-attached homes like urban infill homes. 

Single Family Houses 

These homes are typically designed for a single family and are connected to another home on one side. Typically, semi-detached houses are less expensive to purchase and maintain than single-family detached homes. As a result of the shared walls on one side, the privacy and soundproofing are somewhat compromised. Still, these units usually have their own entrances and are mostly as private as single-family homes. 

Duplexes 

These structures are comprised of two single-family dwellings on different floors. Living in one house while renting the other is a great way to cut down on home ownership and maintenance expenses. This kind of property also affords older families the option of relocating adult children or elderly parents into the second home, if necessary. As expected, these apartments offer less privacy than a single-family detached house and may have more noise coming from the ceiling and floor. 

Townhouses 

Townhouses, or “row homes”, are also a popular housing alternative since they consist of a series of single-family residences united on both sides (excluding the end unit, which is only connected on one side). Occasionally, townhouses may be freehold or condominium-style properties with shared ownership rights and duties. Because of how they are built, these homes are often cheaper and easier to keep up than detached or semi-detached homes. Compared to duplexes, these dwellings provide less privacy and may be noisy due to shared walls. Consider the monthly maintenance or strata fees as well. 

Low to High Rise Condos 

These are low-rise or high-rise apartment complexes with several residential units. Individually owned flats with shared ownership rights and obligations for the building and community areas. Due to their affordability and minimal maintenance needs, condominiums are ideal starter residences for individuals and couples. Some buildings even provide common facilities such as a fitness center, swimming pool, or event space. Consider if you would be interested in these features at all times. Why pay for them then? It may be preferable in this situation to choose a condo with fewer facilities and cheaper strata fees. Also, condominiums are often much smaller than detached or semi-detached homes; there is often more noise (depending on how the building is built and soundproofed); and the fact that utilities are shared makes it harder to have privacy. 

Source: https://dominionlending.ca/real-estate/find-your-perfect-home-type