Whether you’re looking for your first home or a new property investment, you’ve probably noticed that there is a lot of terminology surrounding house styles and their structures.
Thus, we have collated the 7 most popular types of houses so that you can narrow down your choices and perform a better search for your ideal home.
Popular Types of Houses 1: Apartment
The apartment is one of the most recommended types of houses to buy or rent. It is part of a collection of similar units in one building structure. In some cases, you can rent one from a landlord. Apartments often come with convenience factors like an on-site repair worker, laundromat, gym facilities, or even a pool for more luxurious apartments.
There are many additional pros and cons to weigh when deciding whether to buy or rent an apartment.
- Pros: Repairs and maintenance are taken care of
- Cons: No option to purchase, less flexibility and freedom, less privacy
Popular Types of Houses 2: Condo
If you like the perks that come with an apartment but are looking to own one rather than rent it, a condo might be a great fit for you.
Instead of having a building manager or landlord manage your unit, you’re in charge of all the repairs and the upkeep of your individual unit.
Condos are a great option for city living and for older adults who want to own and have a mortgage but don’t want to deal with the upkeep of a single-family home.
Popular Types of Houses 3: Co-op
A co-op, also known as a housing cooperative, is quite different from the mainstream types of housing.
When you buy into a co-op, you’re buying a share of the company that owns the building rather than the actual property. The number of shares you own typically correlates to how much space you’re afforded in the co-op.
- Pros: Great sense of community, less expensive than a traditional home
- Cons: Less freedom, must get district approval
Popular Types of Houses 4: Single-Family (Detached)
The key feature of a single-family home is that it’s completely detached from other housing units, unlike condos, apartments or townhomes.
These houses are less common in highly populated areas and are typically found in suburbs. Single-family homes are usually more private, with more options for personalization.
Popular Types of Houses 5: Tiny Home
The tiny home is one of the types of houses that is in-trend these days. Its popularity has boomed in recent years, thus creating the “tiny home movement”.
These small abodes are usually sized at around 60 – 400 square feet. Some tiny homes are prefabricated while others are complete custom builds. They are particularly favoured by single adults and couples who want more financial and physical freedom.
- Pros: More affordable and greater physical freedom
- Cons: Smaller space, less room for family growth
Popular Types of Houses 6: Townhome
A townhouse (or terrace unit or cluster home) is an individually owned dwelling that shares at least one wall with another unit and has its own entrance. They are most popular in big cities where space is limited.
Townhomes/cluster homes maximise the use of vertical space through building multiple stories while saving horizontal space by lining them next to similar units. Sometimes there are shared amenities among cluster homes.
- Pros: Typically more affordable than single-family homes
- Cons: Less privacy and less freedom to change the exterior
Popular Types of Houses 7: Contemporary Home
The contemporary house is the last type on this list of popular types of houses.
The contemporary style is often confused with the modern style, but the two should not be used interchangeably. Contemporary refers to what is currently trendy while modern is a throwback to the time period between the 1940s and 1960s (e.g. midcentury modern).
Contemporary homes today often incorporate elements from modernist styles. Most of such homes utilise eco-friendly materials and designs with an emphasis on clean lines and natural textures. Neutral colours with pops of colours are popular colour choices for these interior types.
- Pros: Luxurious design, sleek modern appearance, and lower running costs
- Cons: Getting eco-friendly materials and designs may be costly
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