Stating the Facts About Real Estate

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Stating the Facts About Real Estate

Buying real estate can be a really good investment. There are a few different approaches you can take. Many people choose to simply buy themselves a home and pay into the mortgage over time, building equity. You could also buy an apartment community or a couple of homes to rent out, profiting from the rent, and then profiting again when you sell the homes. Regardless of which approach you take, it is important to know the facts. This blog is a good place to find them! We state the facts on real estate, and we cover a wide range of topics for your benefit.


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Why a Single-Family Home Could Be the Better Option for You

If you are planning to buy your first home, or perhaps you are wanting to buy a new home, you might be wondering what type of home you should choose. You could go with a townhouse or a condo, or perhaps you are looking at single-family homes and thinking that is the right choice. For many people, a single-family home is most likely your best option for several reasons.

Here are some reasons why a single-family home could be the better option for you to buy.

Better Overall Structure 

While townhouses and condos are built sturdy and can last many years without the need for repairs, single-family homes have a better overall structure. Townhomes are attached to their neighbors on at least one side and many of them have at least two sides that they share with their neighbors. While most developers and builders do try to soundproof walls, you may still hear your neighbors at times. The same is true of a condo.

Townhouses usually have a very small front yard or none at all. They also tend to have very small backyards, so if you want to have a BBQ or a pool in your yard, single-family homes are most likely the way to go. You will have more land and can build a deck, install a pool, and invite friends and family over for a BBQ without issue.

Cost Difference Can Be Negligible

While it might seem like a townhouse or a condo is cheaper and better for your budget, that's not necessarily the case. Single-family homes might appear to have a higher price tag right off the bat, but when you look at your purchase agreements with a townhouse or a condo, you will see you will pay Homeowner Association fees to the community or condo building. This can increase your overall cost by quite a lot. These fees cover maintenance of the overall property, roof repairs or replacements, and groundskeeping.

When you buy a single-family home you are responsible for the repairs and maintenance of your property, and while the price of the home may be higher initially, most repairs are not done monthly, so you are not regularly paying out upkeep fees.

No Restrictions On What You Can Do

Owners of townhouses or condos are restricted in what they can do with their homes. They must follow the community guidelines for painting their front door or changing it, what type of flowers they can plant, what size your pet can be, and even breed restrictions in some communities, and even age restrictions in some cases too.

With single-family homes, there are no restrictions to what you can do with your home. If you want to paint your house, you can without seeking permission from the community. The same is true with planting flowers and installing a pool. You may need to get a building permit for an inground pool, but you won't have to ask the community if you can get one.