Call (253) 999-2371 Paul Chunyk is a Realtor in Tacoma, WA. See our new homes for sale in Tacoma, Washington, and all of Pierce County. Search the Tacoma Real Estate Market - condos, mansions, luxury homes, and more

Choosing The Right Type Of Home

When beginning the process of buying a home, most people first think of a suburban, single-family home. But if you choose to explore more, you will find a greater selection of types of homes available. Each of these types is going to have different advantages and disadvantages. Choosing the right type of home for you and your family involves knowing information about each of the options. From single-family homes to multifamily homes, condominiums, and duplexes, there is more information to be learned about each type of home.

  • Single-family homes.

    The greatest characteristic of a single-family home is that it is separate from any other structure on all sides. A single-family homeowner is going to have his or her own space, yard, and structure. The styles of single-family homes vary greatly. According to a study conducted by realtor.com in 2014, the 5 top-viewed homes were all single-family homes of different styles. From a “Mushroom House” to a “Palladian Masterpiece.” the possibilities of single-family homes are versatile.

    These types of homes are the most popular to buy. As people flock to San Diego, the number of single-family homes available has decreased. From 2013 through 2014, there was a 2.7% decrease in the number of single-family home building permits. In comparison, the rest of the US saw a 6.5% increase. If looking to live in this type of home, San Diego may not be your best option as the high demand and lack of availability keep the prices high.

  • Multifamily homes.

    Unlike a single-family home that is a separate structure designed for one family, a multifamily home is a separate structure designed for multiple families. Each family has its own area that is equipped with a bathroom, living room, bedrooms, and kitchen, but each family’s dwelling place is in the same structure. These homes can be cheaper for families if there are multiple families living under and paying for the same structure. Some people like to purchase multifamily homes and then rent the separate quarters. It can be a great source of income. There are also several loans available to help with the purchase of a multifamily home. A residential mortgage loan is used to help finance a home that has less than four units, while a commercial loan is used for a home with 5 or more units.

  • Condominiums.

    Condos have separate and communal areas. Unlike apartments, those living in condos have purchased the area they are living in as opposed to renting it. A few major differences between a condo and a multifamily or single-family home are that condos have shared space between families and each family is not responsible for the upkeep of the shared space. With a condo, each family is going to be paying a fee to have the shared space taken care of. A homeowners association is going to provide benefits. Many have swimming pools, tennis courts, and more entertainment areas. They care about appearances and have rules and standards to maintain them. Providing maintenance and management, condominiums are going to have more people taking care of you than a privately owned home. One of the biggest downsides of being under a homeowners association is that the rules they do have set up may not be rules you agree with or want to follow. In order to avoid this, you should thoroughly investigate the homeowners association. Know what rules they have in place, amenities they provide, and fines. Better to be aware than surprised.

  • Duplexes.

    In a duplex, there are two separate homes that share a wall. Sometimes the shared wall is the side of a home, other times it is the ceiling. Regardless, each home is completely its own entity with its own entryway. Renting a duplex is a nicer quality renting option. With their own space and privacy, duplexes enable renters to feel like they have a single-family home. Individuals living in duplexes are going to have to share their yards with another family, but they are going to have more freedom with their yard than they would living in a condominium or multifamily house.

Different seasons of life can call for different types of homes. As you educate yourself on the types of homes available, consider your current lifestyle. Are you looking to settle down and raise a family in a quiet, private home? Are you a young couple looking to build community? Are you temporarily in the area for a job? The type of home you choose now may be different than the style of home you are going to need 5 years from now, but make sure to choose the home that is going to fit your lifestyle, family needs, and financial situation.

Contact Paul Chunyk

Reach out to me, I would love to give you more details and get you headed in the right direction to accomplish your goals.

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