When you are in the market for a new home, one of the first decisions you often make is whether to opt for a single-family home or for a townhome or condo. All three options offer buyers unique advantages, and each can be the perfect choice depending on your situation. Factors such as your life stage, location preferences, and overall costs often determine which home style is best for you and your family.

 

What Are Your Family’s Needs?

 

When it comes to choosing the best home style for you, your life stage will most often be the most important factor in your decision-making process. Are you a single, young professional, or a married, young professional with plans to have a large family as soon as possible? Large families will often need more square footage than a condo can provide, and desire the outdoor space that a single-family home can offer.

 

Location, Location, Location

 

Location weighs as a close second deciding factor in this race, and can even come first in some situations. If you have decided on a particular neighborhood, or area that would be ideal, you will be limited to the home sizes and styles offered in that area. For instance, if you want to be within walking distance of work, or choose to opt for public transportation to save on vehicle expenses, condominium complexes or townhomes may be the best choice.

 

What Can You Afford?

 

Lastly, when deciding between home styles, you need to determine which best fits in with your financial budget, as well as time constraints. Each option comes with its own pros and cons, and it is important to weigh both in light of your circumstances. Condos provide homeowners with the peace of mind that comes with knowing maintenance is taken care of, while single-family homes and townhomes ensure that you are in control of your own maintenance. Busy professionals without the need for outdoor space (and the work that comes with it), may find that a low maintenance (and often less costly) condo fits perfectly into their lifestyle, and a young family more interested in proximity to schools rather than the workplace may find that a single-family home is just the ticket. Townhomes, on the other hand, can provide the ownership and outdoor space of a single-family home, while also allowing the homeowner to choose an ideal location.

At the end of the day, each case is unique, and each homebuyer must choose their priorities accordingly. Luckily the variety that these 3 home styles provide makes it possible to find just the right place, regardless of your life stage, or financial position.