Posted on: 17 February 2021
When you get ready to purchase a home, you will need to decide if you want a single-family home or multi-family house. If you do not understand the differences between these two home types, you might want to learn before deciding. Here are some of the primary differences between these home types that you should understand before purchasing a house.
The first difference is the structure. A single-family home is a separate, standalone structure. When you buy it, you own the entire house and structure. You own all the walls, and you own the inside and outside. A multi-family home might be a condo or townhouse, but it is not a separate structure. Multi-family homes include several homes. Some have two homes within the structure, while others have many. When you buy a townhouse or condo, you own the inside of your unit. You do not own the outside of it or the entire structure as you would with a single-family unit.
Based on the differences in the structures of these home types, you will likely see that you receive more privacy when owning a single-family home. You will not have neighbors who share a wall with your home. Your home will be completely separate, leaving you with more privacy.
The Homeowner's Association
Another difference between these home structures is a homeowner's association (HOA). Single-family homes do not have HOAs in most cases, whereas multi-family typically homes do. An HOA is a management entity that controls many things related to the properties. Homeowners must pay monthly dues to the HOA when a community has an HOA managing the properties.
You will also see some differences in costs. Single-family homes might cost more to purchase because they are private, separate, and larger. The utilities and property taxes might also cost more. Therefore, you can pay less if you buy a multi-family house.
The final difference is the responsibilities with each house type. With a single-family home, you will be responsible for all the work the house needs, including for the inside and outside. Because a multi-family house community typically is part of an HOA, the homeowners only have to maintain the insides of their homes, leaving them with fewer duties.
These are the five primary differences between single-family homes and multi-family houses. For more information about single-family homes, contact a real estate agent.Share