Typically, buying real estate is a wise decision, as it is an asset that appreciates over time. In addition, when you own your residence, you can qualify for tax breaks. Additionally, in many major metro areas of the country, a mortgage payment is less expensive than paying rent. If you're interested in purchasing residential real estate, you will need to decide whether to opt for a single-family home or an attached unit home, such as a townhouse or a condominium. In a lot of cases, choosing to buy a single-family home has a lot of advantages over an attached unit home. Some of the top benefits a single-family home has compared to attached unit homes include:
If you're someone who enjoys indoor/outdoor living, you will most likely be much happier in a single-family home than an attached unit home, since single-family homes usually have both front and backyard space. On the other hand, attached unit homes typically only have small patios or balconies, so there is not a lot of outdoor space for you to enjoy. When you buy a single-family home, you will be able to enjoy being able to have a yard that you can landscape to fit your style.
One of the big downsides of attached units homes is the lack of privacy. With condominiums, you may have neighbors above you or below, as well as on one or both sides. Likewise, townhomes also share walls with their neighbors. This can be quite frustrating if you prefer privacy, especially if you have the misfortune of moving in next to loud and noisy neighbors. Single-family homes are detached, so you won't share your walls with anyone. You can also select a home that is on a good-sized lot so you have plenty of privacy and quiet.
When buying residential real estate, it is always a good idea to have a plan for the future. One reason that you should seriously consider buying a single-family home instead of an attached unit home is the fact that it will be easier to sell down the road. In many areas, single-family homes are in higher demand than attached unit homes like condominiums and townhomes. Single-family homes also often appreciate at a faster rate and sell for a higher price than townhomes and condominiums, since single-family homes come with the lot included.
For more information about single-family homes in your area, contact a local real estate office.