I get this question a lot from my First Time Home Buyers: “What kind of home should I buy?”
It’s a valid question, and the answer is really, whatever your heart desires.
There are a great number of “styles” to choose from, and also a group of categories. The most popular choices are:
Single Family Home – free-standing structure on its own lot with no common walls. This is what most people call a “house”.
Townhouse – think strip-mall for homes. You own the building portion and the land, but someone else maintains it on the outside.
Condo – basically a glorified apartment. You own the building portion and some common areas, but not the land.
Twin Home – like a duplex, but with separate ownership on both sides.
Loft – a type of condo where the space is usually open and ceilings are high. Most lofts are old warehouses.
As you can see, there are several ways to own property in the Twin Cities, and for that matter the world. I’m leaving out some of the lesser-known types since they are not as common for first time buyers. But which one is right for you?
Well, you have some thinking to do, and some other questions to answer.
If you like being away from neighbors and other noisy pests, you probably want the Single Family Home.
If you don’t mind having a shared wall next door but want a small patch of grass to lay out on, then you should consider the Town House.
If you don’t like doing maintenance work and can stand some extra noise in the hallways then I would suggest a condo or loft.
There are many other aspects of these homes that you should consider when looking for your first home. Some of my past clients have never wanted to live in a condo until we stepped foot in the right one. Others are open to any style home as long as they stop paying rent.
In truth, it depends on your personality, wants, needs, time schedule, and budget.
This is why getting help from a Realtor is important when house hunting for the first time. They can help guide you to your dream home, but always ask questions and make sure your needs are being met.
