Home Types:

Single-Family Housing
- most familiar type of housing
- a structure housing a single family or group of individuals sharing the same living space.
- Although some walls and common areas may be shared, they generally have separate
entrances, and a separate heating and plumbing system.
1. detached house - a dwelling which has separate walls and is usually surrounded on all sides
by land that is part of the real estate
cluster housing - detached houses on small plots of land that share open spaces.
multifamily housing - modifcations of the detached house which is more afordable;
accomplished by sharing walls and restricting the amount of land in the residential unit
eg. row houses and duplexes, and townhouses
2. row house - a dwelling that shares side walls on or both sidesoften called party walls
with similar units, and usually has a yard in the bac!.
3. duplex - " residential units that share a roof and side, but with the other side of the house
separate from other units.
An extension of this concept includes triplexes and uadruplexes.
!. townhouse - also has party walls, but is usually more similar to ad#acent units than typical
row houses, and often shares common areas, such as wal!ways and par!ing lots.
usually constructed with several $oors to each residence
"odular Homes #a$a %refa&ricated Homes'
- has most of the characteristics of a single-family house, but is much cheaper.
- %ach room of a modular home is assembled at a factory, then transported to the construction
site where it is fastened to a foundation, and connected to the rest of the house.
- &lumbing and wiring are done onsite.
- 'he owner of the modular home owns the land. (enders and insurers treat a modular li!e a
conventional home.
- restrictive covenants or neighborhood deed restrictions may forbid modulars on particular
properties.
) *epending on the si+e and complexity of the house, it usually ta!es less than " months to
build all of the sections at the factory, and from to , months to assemble it onsite.
) -nli!e manufactured housing, the blueprints for the modular home must be approved by
the local planning board and a building inspector must inspect the completed home and
approve it for meeting local codes.
"anufactured Housing #a$a "o&ile Homes'
- built completely at a factory, then usually transported to a mo&ile home par$, which provides
space and hoo!ups for water, electricity, cable, telephones, and gas.
- .ften, the land is rented or leased from the par! owner.
- /owever, mobile homes are much less expensive than homes constructed onsite, and even
modular homes
"icrohouses #a$a "inihouses'
- small houses that range from a few hundred to a thousand s0uare feet.
- 1ore living space is achieved by using the vertical space more efectively, such as putting beds
in lofts or putting a patio or dec! on the roof, and using small appliances and furniture.
- 2ome of these houses, as small as 3, s0uare feet, are added onto existing property for personal
space, or speciali+ed needs.
(partments
- have multiple dwellings within a single exterior, and usually share hallways, wal!ways, and
entrances.
- 4n most cases, each dwelling is wholly contained on a single $oor.
- Apartment buildings can be small or giant s!yscrapers, containing hundreds or thousands of
units.
- 'hey are designed either as afordable dwellings or as a means to maximi+e the number of
dwellings on limited land, as in many large cities.
) Afordable units may range from -room e5ciencies to several bedrooms, and are
usually rented. 4n large cities, apartments may also be sold separately. 4n most cases,
there is very little or no land associated with the dwellings.
)ondominiums #a$a )ondos'
- li!e apartments in structure and many of them are rented, but the individual dwellings are
individually owned.
- legal foundation of the condominium is the declaration of condominium ownership
a legal document describing the property, including a description of the units and
the common elements, the rights and duties of the owners and the owners6
association, and the procedures for amending the bylaws.
- owners have an ownership interest in the common elements, such as, elevators, stairways,
halls, wal!ways, par!ing lots, open areas, and recreational facilities.
- 'he ownership interest of the common elements is usually in direct proportion to the number of
units that each owner owns, but it may difer depending on the condominium &ylaws.
'hus, if an owner owns " condos in a 3-condo unit, then she will have a 78
ownership interest in the common elements.
- main appeal of condominiums is that they are generally more afordable than single-family
houses in the same area, and there is usually no maintenance, since condominiums are generally
maintained by outside contractors and paid by condominium fees assessed on each owner
)ooperati*es #a$a )o-ops'
- li!e condos in that multiple dwelling units are contained within a larger building and they
include common elements.
- /owever, co-ops are owned by a corporation created specifcally for the co-op, and ownership is
ac0uired by purchasing shares in the corporation.
- 'he owner receives a proprietary lease rather than a deed to the property.
- has a board that promulgates rules and pays for repairs and maintenance of the common
elements
- can also be more restrictive as to who can own shares in the corporation
%lanned +nit ,e*elopments #%+,s' #a$a "aster %lanned )ommunities'
- develop a community as a unit 9hence the synonym master-planned communities: under a
special +oning ordinance that limits density and maximi+es open space by reducing lot and street
si+es, providing for not only homes but also recreational facilities and commercial retailers.
- &-*s may range in si+e from a few houses to an entire town.
- A community association governs the development and collects fees from the homeowners,
but the owners do not have an ownership interest in the common areas.
"ixed-+se ,e*elopments #"+,s'
- a vertical variation of the &-*
- a high-rise development that incorporates virtually an entire city in one high-rise building, with
commercial establishments, mostly on the lower $oors, and dwellings in the upper $oors.
- 'he retail space usually includes shops, a grocery, personal-care shops such as a beauty salon
or a barbershop, and may include movie theaters, a swimming pool, and other recreational
facilities.
-etirement )ommunities
- ofer onsite medical facilities and greater security for older adults.
- 'hey often ofer many amenities and activities for senior citi+ens.
Timeshares #a$a Fractional .wnerships'
- a property is owned by several people who have the right to possession to the property only for
specifc times of the year
- located in resort communities, and are used by the owners for vacations.
- 'he real estate is managed by an owners/ association, which pays the expenses of the real
estate by charging the co-owners an annual fee.
.ther ,welling Types
con*erted-use properties
- are usually apartments, condos, or co-ops that were built by modifying a pre-existing structure,
such as a warehouse or a factory.
condo-hotels
- .ther types of dwellings; the condos being built as part of a hotel complex
- ofers many of the hotel6s services, such as concierge services, to the owners for a periodic fee.
destination or euity clu&s
- allow members to buy timeshares for the use but not the ownership of vacation properties