Homes can be grouped under various titles depending on their designs, size, or arrangements. Each of these home types has its own plus and minuses (also depending upon its inhabitants). Following are some of the most basic types of homes and their unique characteristics. Condos/Apartments/Flats Apartments can be regarded as the most economical and easily available house in large metropolitans. An apartment is a relatively small residential unit (apartment complex typically has ten or more apartments in it). Large metropolitan cities have thousands of apartments to accommodate an ever increasing population. Condos and flats are two terms used to describe this type in different regions. There are some jointly owned properties like swimming pool, parking or elevators. Apartments are considerably small in size and the maintenance cost is relatively less than big homes, making them a good option for singles or couples without children, in contrast big families find it hard to adjust themselves in a small space. Apartments are a good option for investors as well; who can purchase off-plan apartments in big cities and sell or rent them after some time, earning good yields in the process. Single family House/cottage/Bungalow/Mansion/Villa These are the traditional homes, given different names according to the size of dwelling. The biggest advantage of a traditional single family house over apartment is that unlike the apartment, you own the land as well. You can build more rooms or even new storey; whenever you want (however you must abide by the local laws regarding the number of storey allowed in a single family house). You can also rent some portion while living in the other portion. While living in an apartment complex, you have to abide by the rules set by the owners association e.g. having no pets. Quite obviously, you don’t have to follow any such rule in a single family home. With liberty come some obligations though, for example you have to bear all types of maintenance costs. Still, this is the best option if you are looking to settle down and having the money to buy one. Mobile Homes/Park Homes Unheard of, in some regions but mobile homes are commonly used as a residence in Unites States. The house is built in factory and then carried to the location and installed. These are way cheaper than the conventional homes or even apartments; however they are vulnerable when it comes to security or durability, which means they are not that suitable for longer lodging periods.
William King is the director of Pakistan Real Estate & Pakistan Property Portal: http://www.zameen.com/ , Dubai Real Estate & Dubai Property: http://www.bayut.com/ , Property & Real Estate Directory & Classifieds: http://www.propertydir.com/ and Concrete Suppliers & Concrete Business Directory: http://www.concretesuppliersdir.com/ . He has 18 years of experience in the marketing and trading industries and has been helping retailers, entrepreneurs and startups with their product sourcing, promotion, marketing and supply chain requirements.