A guide to the types of homes that are available

If there’s one thing we all notice when we start looking to buy a home, it’s just how many different types of homes there are out there. Detached? Semi-detached? Modular? Can it be any more confusing?

While your REALTOR® can easily and happily explain the differences to you, and help you plan for the long-term, here’s a quick run-down on types of homeownership and what those different types of homes are called.

 

Types of home ownership

There are two types of home ownership — freehold and condominium.

• Freehold Freehold ownership means that you own the land and house outright, with no space co-owned or co-managed with owners of adjacent homes. You are also solely responsible for the maintenance and upkeep of your property, and the property taxes associated with it.

Detached and semi-detached homes, duplexes and townhouses are usually owned freehold.

• ​Condominium Condominium, or condo, ownership means you own the individual unit you live in, and share in the ownership of common spaces. Common spaces can be within the building (e.g. corridors and foyers), the grounds around the building, and any shared amenities (e.g. swimming pools, recreation rooms, etc). 

You are responsible for the upkeep of your unit, including property taxes, and pay a monthly “condo fee” towards the costs of maintaining common spaces and amenities.

You and the other owners of units within your building manage the common areas through the condo’s corporation which is run by an elected board of directors made up of fellow condo owners. The corporation makes decisions about using and maintaining the common space, and sets your condo fee, sometimes with the help of a property management company.

 

Types of homes

While there are only two types of homeownership, there are six types of homes that you can own.

• Single-family detached

A single-family detached home is one dwelling unit that stands alone, on its own lot. These types of homes usually offer the greatest degree of privacy and yard space. They might have an attached or detached garage, and a private parking space for your vehicle. They are normally freehold, although some condos look like single-family detached homes but are part of a larger, sometimes gated, community.

• Single-family semi-detached

A semi-detached home is a single-family home that is joined on one side to another home. It can offer many of the advantages of a single-family detached home but is usually somewhat less expensive to buy and maintain. It’s also possible to access the backyard along one side of your home. These are normally freehold as well, but condos are now being built in this style as well.

• Townhome/townhouse

Townhomes or townhouses consist of several similar single-family homes, side-by-side, joined by common walls. They can be freehold or condos. They offer less privacy than a single-family detached home, although each usually has a private outdoor space. Parking could be directly behind the unit, or in a common lot. These homes come in a wide range of sizes, configurations and price points. The disadvantage of this type of home is that if your unit is in the centre of the row, you can only access your backyard through the house, and vice versa.

• Stacked townhome

“Stacked towns” are a hybrid between a townhouse and a condo. A stacked townhouse will have multiple dwellings and might be built with a 2-storey floor plan. The buildings are usually attached in groups of four or more. Each unit has direct access from the outside. As with a row house, parking could be directly behind the unit, or in a common lot. They can be either part of a condo corporation or freehold.

• Modular home

Modular homes are built inside factories in climate-controlled conditions and delivered in sections (or modules) to the homebuyer’s vacant lot for completion. Any of the above types of homes could also be modular homes. Modular homes are a great alternative to a traditional design-and-build home as they’re cost-effective and can save you lots of time. A modular home is not a mobile home — it’s a home that is built off-site. These homes are often called factory-built, system-built, or prefab (short for prefabricated).

• Condominium apartment

A self-contained housing unit located in a building that includes other similar condominium units. Condo apartments are built in a wide range of sizes, from bachelor units to multi-bedroom suites. Each condo apartment includes its own kitchen and bathroom facilities, and often has its own heating and air conditioning system. Condo units are individually owned and managed under the umbrella of a condo corporation made up of a group of owners. When you rent a condo, the individual condo owner is your landlord.

 

For more information about housing, visit the Canadian Home Builders Association website at chba.ca