Is A Single-Family Home The Best Choice For You?
When you first meet with a real estate agent to begin the home-buying process, one of the first questions he or she will likely ask you is what types of properties you're interested in. From condominiums and duplexes to townhomes and single-family homes, you have a number of options to choose from when buying. For many, a single-family home is a great choice; by exploring some benefits and potential drawbacks to single-family housing, you can more confidently decide whether this type of property is right for you.
Advantages of Single-Family Homes
Compared to a condominium or townhome, a single-family home is a standalone structure built on a dedicated plot of land. As such, you'll own not just the house itself, but the land on which it was built. You'll be able to enjoy your own yard and landscape it as you'd like. With a condo or townhouse, you may not have any outdoor space of your own—and if you do, it will likely be limited.
A single-family home also tends to be larger and to cost less per square foot than a condominium, townhome, or duplex. In the United States, for example, the average condo measures around 1,200 square feet--whereas the average American house is a whopping 2,600 square feet. For those needing more space, then, a single-family home is often the best choice.
And of course, there's the issue of privacy. With a condo or townhome, you're pretty much guaranteed to have some shared walls with neighbors, and you may even have upstairs and/or downstairs neighbors. With a single-family home, your closest neighbor will be in the next house down—not attached to your living room wall.
Potential Drawbacks of Single-Family Homes
Of course, there are some possible drawbacks to single-family living. For starters, if you don't have much of a green thumb, the idea of caring for your own yard may not be appealing. There's also the issue of having to maintain your own siding, roofing, and other exterior components that may otherwise be covered by your building owner in a condo or townhouse.
Because single-family homes tend to be larger, you can also expect to have higher utility bills when compared to a smaller space, so this is something to take into consideration when buying.
The Bottom Line
Ultimately, the type of real estate property that's right for you will depend on your space needs, your budget, and how comfortable you are with maintenance and landscaping. Looking for more guidance? Reach out to your real estate agent today!