Type 1: single household independent
This is a detached house, usually larger than the house itself. We call it the yard. Single-family residence is different from multi-family residence, which is composed of several units.
Advantages: You own buildings and land. You can modify them according to your own preferences (unless you have purchased a planning community with your own restrictions). If you want to break down the fence and expand the scale, no one can say "no" as long as you abide by the zoning regulations. You are the king or queen of your own castle.
Disadvantages: all the work needs to be done by yourself, mowing the lawn, fixing the foundation and spraying termites. Unless you live in a development project with an active owners' association, there is no management organization or board to help you make decisions or share labels.
The second category: townhouses
These houses, also known as townhouses, are connected by shared walls and usually have the same driveway. Townhouses used to be considered as small and strange houses. Nowadays, they can be luxurious, large and private, with open floor plans and elevators.
Advantages: You are part of a community, and you are getting farther and farther away from your neighbors, so if you like chatting on the wall, it will be effective. In addition, many communities also provide facilities such as gyms, swimming pools, golf courses and spa facilities as part of public fees or pay annual fees.
Disadvantages: The townhouses are connected or gathered together, so that sometimes you can hear your neighbors' voices and they can hear yours. If you have a yard, landscaping and yard maintenance are usually personal responsibilities, although public areas are usually the responsibility of the community. In addition, because your townhouse is a part of the whole, you may be assessed as the maintenance task of public areas such as parking lot and painting.
Type 3: Apartment
An apartment is usually similar to an apartment, but you own it directly. Just like a single-family house, unlike a cooperative, you own an apartment. But unlike single-family families, you usually rely on ordinary walls, floors and ceilings to communicate with your neighbors. You can also share public areas, such as lobby, party room and other facilities.
Advantages: within the scope of apartment association rules, I have my own position and do what I want. There is no need to mow the yard. Apartments are usually more affordable and provide facilities than single-family detached houses.
Disadvantages: you pay the monthly fee of the owners' association to finance maintenance, just like regional maintenance, insurance and emergency fund. You must abide by the association rules, which can control everything from how you put the garbage to the furniture you allow on the balcony. Like any unit that enjoys the wall, privacy can be a problem.
Type 4: Cooperatives
Cooperative (abbreviation of cooperative) is similar to condominium, but it is a legal entity composed of individuals who own all the property. When you buy a cooperative, you don't own your own unit; On the contrary, you own shares in a company that has the right to live in one of the units under an exclusive lease or occupation agreement.
Advantages: Because you buy "stock" instead of "contract", it is usually cheaper to buy real estate in a cooperative than in an apartment. The cooperation committee votes on all major decisions, including who can buy the building.
Disadvantages: The Cooperation Committee is omniscient and omnipotent. It approves potential residents, and it can evict residents, just like landlords. The Cooperation Committee can refuse the buyer without clear reasons (although it can't be discriminated by law), let alone sell your stock. You can also refuse to sublet. During the transformation, if the board of directors conflicts with its goals or priorities, the board of directors may completely reject the plan or project. In addition, the monthly membership fee of cooperatives is usually higher than the membership fee, because they include real estate tax and some utility fees.