Congratulations. Finally you have made up your mind to have a home of your own. Before you are on to your home shopping get yourself familiar with different types of housing that are available. Yes, there are different kinds of housing out in the market. Before you decide on which home to buy, you have to decide which type of housing to buy.

It is important that you understand the difference between a townhouse and a condominium before you start your home shopping. Knowing the type of housing you wish to purchase will make your home buying experience a lot easier.

There are three main types of housing that commonly exist in real estate market. They are:
• Single family homes
• Town house
• Condominium

Single Family Home
This is the most common type of housing in United States. This type of housing is very apt for a single family. In this type of housing land & building go together and both are purchased and sold together as a single property.

Unlike other types of housing, single family homes stand alone. You are free to do whatever you wish in this type of housing. Only thing you need to watch out for is the prevailing neighborhood regulations.

In a single family home complete maintenance and repairing cost is your responsibility. Furthermore in a single family home, improvements can be done at your will and easily. You can add a pool to your home if you wish!

Townhouse                                                                                                      Townhouse is a type of housing that lies in between a single family home and a condominium 

Usually a townhouse is attached to another house. When you buy a townhouse you own the property on which it sits. Townhouse type of housing is invariably a part of a larger community and hence features the amenities of an apartment like tennis courts, swimming pools, fitness centers etc. In this type of housing maintenance cost will be less. Townhouses are usually a part of Home Owners’ association and you will be required to be its member.

Condominium
Condo in short, a condominium is a type of housing that is popularly known as apartment. In a condo you own everything inside the walls. As far as the common area outside the walls is concerned you share ownership with your neighbors.

For the ownership of condominium you are often required to pay a monthly towards maintenance and repairing. Exterior maintenance will be taken care of by condo association. In this type of housing, dues and assessments are the other costs.

Condo type of housing is more affordable than the other two types of housing. A condominium is a convenient combination of comfort and less responsibility. But it is somewhat difficult to resell a condo.

So, which one do you want? Single family home? Townhouse? Or a condo?

Decide and then shop. Good luck.