If you watch the evening news or pay any attention to your local real estate market, you already know prices are literally through the roof. Many well-known cities, in places like Florida, North and South Carolina, and others, are seeing an unprecedented influx of homebuyers, which has caused inventory of currently listed homes for sale, to be at all-time lows.
In some cases, there simply aren’t any!
That is what gives us the most information about the types of homes and features that are most important to buyers these days. Moreover, there are 3 specific types of homes which are the most popular among all buyers in 2021.
Let’s dive in…
One of the most popular housing styles is the single-family home that can accommodate parents with kids, or folks who want lots of space. These properties are so popular because families can spread out and have a bedroom, for everyone who lives there. Plus, you can find these homes at affordable prices if you shop around within your local marketplace. Of course, this depends on what you consider affordable too. Typically, single family homes for sale are either 2, 3, 4 or 5 bedrooms at max. Although, you can get a single-family home in any size you wish on custom builds.
You can find stand alone homes, which are located outside of any type of community and considered truly private. These single-family homes give you complete control over how the house and overall property looks. The types of trees and plants you have. What type of fencing you can install? If you want one?
Buying a single-family home outside of master planned neighborhoods benefits those who do not want to adhere to community rules and regulations, that most HOA communities have.
Single-family homes within planned neighborhoods are very common, because they are governed by a Homeowners Association, (HOA) who is charged with maintaining the common grounds, and any onsite amenities including, swimming pools, walking trails, the main roads, and the trees, grass, and bushes, on common grounds.
Residents will pay a monthly HOA fee for this type of service and maintenance. But these types of planned communities are typically in demand from buyers, who want safe, clean, and comfortable places to live.
Townhomes are also a popular option for people who want an affordable place to live, with minimal maintenance required by the homeowners.
Just like in single-family home communities, which are governed by an HOA, so are townhome communities. These properties are usually connected with 2, to 4 units per building. You can buy townhouses with all sorts of floorplans, and prices.
However, townhouses typically cost less to purchase then a comparable single-family home. Plus, townhome communities are maintained by the HOA, and this includes all the common grounds, including mowing the grass too.
Many times, other things will be included in the monthly HOA fees like cable TV, internet, and more.
Another popular type of real estate people buy everyday are condominiums, AKA, condos for short. Unlike townhouses, where there are up to 4 units per building. Condos can have dozens, or even hundreds of units per building. In fact, some condos buildings in major cities like New York, or Miami, can have dozens of floors, with hundreds of apartments (condos) available.
Other, more luxurious condos may only have one condo per floor. These luxury condos can have 4,000 SQ and cost millions of dollars to purchase.
But, for the most part, condos are an affordable way for people to own property, because they can be relatively inexpensive, compared with single family homes, or even townhouses, that would compare.
Another popular condo are waterfront condos that are set directly on the beach, with sand as your backyard and the ocean for your second swimming pool. Although living on the water is more expensive no matter how you slice it, beachfront condos are still less expensive than you might think.
Of course, there are expensive waterfront condos as well, like in South Beach Miami, where 1 condo can cost several million dollars.
Hopefully, you can see why the top three types of housing are single-family homes, townhouses, and condominiums. All of them provide something different, which will be considered positive depending on what your lifestyle requires.
Most families choose single-family homes for their size and number of bedrooms. While anyone can choose a townhouse since they are a hybrid housing type, that lies somewhere between single-family homes and condos.
Of course, you cannot forget condos, because they provide the most affordable type of property or an affordable way to live in luxury too.
Either way, simply do some research before you choose what type of home you wish to pursue. Go out and look at the different types of homes in your areas, to see what looks the best.
Then, call a professional real estate agent, who can help to guide you through the process of deciding which home you want and which neighborhood you love.
Finally, you can buy the best property type for your lifestyle needs and budget requirements.