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While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. From single-family homes to condos and everything in between, knowing the nuances of the types of houses can help you determine what will work best for you.
If the prospect of choosing one from the many different types of homes available seems confusing, consider this your primer. However, by U. People who choose single-family homes tend to appreciate privacy, the potential for more storage space in a garage or other structures and heightened autonomy when it comes to making decisions about the property. This can include developing a network of reputable contractors an electrician and a plumber, for example , which takes time, and certainly includes accounting for the cost of the maintenance in your budget.
In the case of a condo, homeowners purchase an individual unit within a community of other units. In a co-op, you would own shares in the cooperative or corporation that owns your building or community, rather than the unit itself.
It does not cover content insurance, which would be a separate cost, nor does it cover your taxes. There are frequent assessments in condos and co-ops that are voted on by the board and are required of the association to pay. A townhouse is a multi-floor home with its own entrance that shares one or two walls with surrounding townhomes. People who are drawn to purchase a townhouse appreciate the smaller footprint because you may be able to buy one for less than a detached single-family home in the same area.
Depending on the community, other potential pros include shared amenities, an HOA to manage exterior maintenance and landscaping and some outdoor space to enjoy. Though real estate agents may use the term to reference any small house, true bungalows are one- or one-and-a-half stories with two or three bedrooms, a total of 1, to 2, square feet and often have a front porch.
Because of their small size, bungalows may appeal to those who need their living space on one floor, such as families with small children or those with mobility challenges.
Other pros include the lower utility and maintenance costs associated with a smaller home, lower overall cost to purchase because of size, and often stylized and historic architectural details. You also get the privacy that comes from living in a detached building, meaning no shared walls with your neighbors.
Single-family homes are typically bigger than other types of houses and will often have a front and back yard. When it comes time to sell your house, a single-family home will maintain its resale value better than a condo or townhome. A single-family home also tends to sell easier than a condo or townhome.
Most of the time, this is because there is not necessarily a homeowners association HOA costs or regulations tied to the property, although some single-family homes are built in neighborhoods that do have a HOA. There are some cons to consider when buying a single-family home. One major drawback of owning a single-family home is you are solely responsible for any maintenance, repair or renovation issues. A single-family home also tends to be more expensive when compared to the other different types of houses, because of the larger square footage on average.
However, home buyers who choose a single-family home are willing to pay a little extra to receive the positives noted above. As they say, you get what you pay for. Condominiums, or condos, are units within larger buildings that share at least one wall with a neighboring unit.
You can think of a condo as an apartment, but instead of paying rent each month, you pay a mortgage. Condos are especially popular in larger cities where options for detached homes are either limited or too expensive.
Although condos may look and feel like apartments, they offer many benefits that rental apartments do not. For example, condo owners have more freedom to remodel and they have more say in what happens to the building overall.
Condo owners also enjoy all the benefits that come with homeownership in general, such as growing home equity and creating an investment for the future. The HOA fees usually go into a fund that the Association uses and allocates to things like entire building repairs, like an elevator that needs maintenance, or for things like garbage service. Most HOAs have a governing body or board of directors, and operate at open meetings so that everyone living in the building can attend and voice their concerns.
Though some of these restrictions are done in order to protect other owners in the area as well as yourself from them. However, if you are looking for a good vacation home, condos could be a great option. A townhouse is an attached single-family home that shares a wall with one or two other townhouses. Because of their simplicity, ranch-style house plans are easy to upgrade with additions. Referring specifically to architect-designed homes built from about to , the term "contemporary" has come to describe a wide range of modern house styles built in recent decades that concentrate on simple forms and geometric lines.
Contemporary-style homes reflect the experimentation and dynamism of the postwar modern period in which many modernist ideas were integrated into the American aesthetic. Many contemporary homes feature lots of glass, open floor plans , and inventive designs. Without elaborate ornamentation and unnecessary detail, the exteriors of contemporary homes often feature a dynamic mix of contrasting materials and textures, exposed roof beams, and flat or low-pitched roofs.
Not every home abides by a single house style. You will often see elements of different house styles combined in one home. It's a product of one era moving into another while retaining some features of the previous period, and it can easily be adapted to your design scheme. Although you should avoid a hodgepodge of house styles, you can alter a particular style for your addition.
Once you understand the style of your existing home, you can thoughtfully move forward with the design of your addition. For example, juxtaposing building materials and mixing window shapes create architectural intrigue between this home and its addition. Although they were built at different times and feature contrasting materials and elements, they are connected by the use of angles and strong geometry. What Style Is Your House? Caitlin Sole headshot. By Caitlin Sole Updated September 16, Save Pin FB More.
With so many types of house styles, narrowing the list down to your favorite can be overwhelming. We'll show you the top 10 most popular house styles, including Cape Cod, country French, Colonial, Victorian, Tudor, Craftsman, cottage, Mediterranean, ranch, and contemporary. Here's how to tell the differences between each architectural style. Start Slideshow.
Tweet Email Send Text Message. Credit: Brie Williams Photography, Inc. Credit: Michael Luppino. Credit: Reed Davis. Credit: Emily Followill. Credit: John Bessler. Credit: Jeff Herr. No matter what house style you have, it's all about the curb appeal.
Watch and learn how to enhance your home's elegant Tudor style using these signature exterior details. Use these ideas to play up the different materials, colors, and textures found in Tudor-style houses. Credit: Jon Jensen.
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