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There are many different types of construction involved in different types of residential buildings and it is considered to be one of the most popular types of construction. While these different types could include anything from townhouses, condos, regular family homes and apartments to name a few, each one is structured differently and include a market of their own.

The residential construction industry is the one of the biggest and highest in demand due to the fact that nearly every person needs to invest in some kind of residence in their life.

One thing that needs to be considered before deciding which residential property type to invest in is one’s lifestyle and whether or not it aligns with the home you choose to live in. Other than that, there are countless pros and cons to taking into consideration before purchasing or letting a property.

Different Types of Residential Building Types

Single-Family Home

As a popular option amongst residential property types, single-family homes, or rather known as SFH, offer a lot more privacy and a lot of space, which is often not offered in other homes. These homes also come with front and back yards, as well as allow you to get creative and express yourself with design in your own home. These types of homes can also resell at much better value than purchased. The only negative aspect about buying a family home is that it’s a bit more of a permanent and there are a lot more costs involved with regards to repairs and maintenance of the hose.

Townhouse

Best described as a combination between a condo and a family home, a townhouse is known for having a few floors with a few walls and sometimes even include a small yard on a deck. These are usually bigger than condos, but a lot smaller than a family home. Townhouses also offer a lot more privacy and lower costs involved due to proper maintenance agreements. These are known for being quite charming and are especially perfect for one to two people.

Multi-family home

Choosing to rent or buy a multi-family home is a big responsibility and costs are much higher than with any other type of residential building. That is also why it is a much less common option. These are usually structured as either a two-story house or have a row-style set up of rooms. The house usually won’t have more than 4 units within its space.

Condominium

More popularly known as condos, these are single units inside a larger building and most commonly share a wall on either side with two neighbor units. These will always require you to pay monthly or yearly fees and are mostly found in high-density, urban-like areas. The one positive factor about these is that the homeowner doesn’t have the responsibility of contributing to the maintenance of the condo. Any maintenance costs will usually be shared amongst you and the other residents. Condos are ideal constructive living spaces that usually include a pool and gym that can be shared amongst everybody in the building.

Co-op

Short for cooperatives, co-ops are known for having a similar construction set up than a condo but is different in the sense that you won’t just own your space within the unit you’re living in, but you’ll own the building together with everyone else. In order to obtain a co-op, there is an interview process involved before you will be accepted to do so. Co-op’s are much less expensive than condos.