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Deciding What to Buy

Nowadays, there are many different types of homes to choose from and there are pros and cons to Take a minute to reflect on your lifestyle and based on that, decide what best fits you. To help, we've broken down the most popular housing options here.

City Core The prices are generally higher, but you can walk to a restaurant, maybe even to work.

Suburban Newer schools, newer shopping centres, bigger yards, bigger homes, no wonder so many people love the suburbs.

Smaller Cities and Towns A longer commute but an opportunity to enjoy small town atmosphere.

Rural If you like the idea of owning land, a few acres is nice. Seclusion is not for everybody, but for some, it's heaven.

What type of home you want

By now, you probably have a good idea of what type of home is right for you. To familiarize yourself with the terminology, here's a quick overview:

  • Single-family Detached:    As the name implies, the home is not attached to the home next door. Styles range from a single-story suburban bungalow, to a three-story Victorian.
  • Semi-detached or Linked: Two houses that share a common wall. Usually less money than a fully detached home.
  • Duplex: A building zoned for two families.
  • Town House: Several homes with a common style and joined in a row. They usually share walls on both sides.
  • The Condo Lifestyle: You'll own 100% of your unit, and a share of the common areas. Common areas include the necessary plumbing, electrical systems, hallways and elevators. They may also include lots of fun stuff like a private gym or party room. On top of your mortgage and property taxes, condo owners also pay a monthly fee to operate and maintain the common areas.
  • Pre Owned Homes: Nothing can match the charm and character of an older home. As a bonus, the previous owner may have made improvements and upgrades and you get them with the house, usually for less than the cost of putting them in yourself.
  • New Home Purchasing: If you're having a new home built from the bottom up, carefully examine the property, the blueprints and visit other homes built by the same company. Have your REALTOR® and/or lawyer review everything before you sign. While your home is being built, stay on top of the process. Remember, you have a legal right to make a full inspection of the house before you accept it as complete. Let one of our MaxWell Realty Advisors assist you through the process.

By Patrick Murray