Buying a house in the USA is like buying all sorts of things - there are different styles, types, versions, architectures and so on. So how many different house types and categories are there to choose from in the USA? You can find out by following this article to take you through.
This is the most common type of house in the USA and is usually a 1-3 storey building with gardens at the front and back. The price of these detached villas varies greatly, from a few hundred thousand dollars for the cheapest to tens of millions of dollars for the most expensive. This difference in price is, of course, mainly due to the quality and location of the homes. However, due to the freehold nature of the homes and the greater freedom and privacy. Also land is a scarce resource and with detached houses enjoying exclusive ownership of their land, it has more scope for appreciation.
The main difference between a townhouse and a detached house is that a townhouse usually requires two adjoining houses to share at least one wall. Like a detached house, a townhouse usually has a front yard, a back yard and a garage, but will be much smaller in size. Townhouses are certainly more cost effective than detached houses, and although they do not increase in value as quickly as their predecessors, they naturally outperform the relatively noisy small flats in terms of privacy, aesthetics and space, and increase in value faster than the latter. So for those who can afford it, a townhouse is a very suitable option.
A condominium is usually a flat in a building with multiple occupants. When purchased, the owner owns the property and does not belong to the property company and can live in it for himself or rent it out to others. However, there are usually no gardens of their own, only communal gardens and green spaces, and there is no separate garage - everyone needs to park in the car park in one place. It is not like single family houses and townhouses where you have full use of the property. If you wish to decorate the interior of your home or make alterations to your balcony, you must apply to the property company for permission to do so.
Flats for rent
As the name suggests it is a type of flat that is built to be rented out by the developer and not sold, but only rented out. The tenant does not own any of the property, it is owned by the developer.
Mobile homes are a relatively cheap and simple form of housing. It provides housing for families living below the poverty line. They are inexpensive and can be thought of as affordable housing in the USA. After purchase, the owner only has the right to use the home, but not the land title, so they have to pay a monthly land lease fee.
So what type of home do you own? Feel free to discuss in the comments section!
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