Determining Your Needs
Types and Styles of Homes
Single-Family Detached
Single-family detached homes stand on their own lot and are designed to house one family.
Duplex
A duplex has two units, one above the other or side-by-side, and is detached from neighbouring homes.
Semi-detached
Semi-detached designs offer two single family homes attached by a common wall.
Townhouses
Townhouses join several single-family units by common walls.
Condominiums
Condominium is a type of property ownership, not just a style of home.
What is a Condominium?
When buying into a condominium complex, your home will usually cost less and you often won't have to worry about snow shoveling, lawn mowing, or major exterior maintenance like fencing or the roof. Condominiums can also come with extras like a security service or recreational facility. Of course, you should be prepared to pay a monthly maintenance fee. This fee goes into a collective cash reserve that is used to cover property maintenance, repairs, replacements and insurance.
Before you purchase a condominium home, do your research. Find out the value of the cash reserve and upcoming projects which the reserve will fund. Ask about annual increases. And compare the maintenance fee to similar condominiums in the area.
