When deciding on the type of home you’d like to purchase, it’s important to know what’s available and envision how your lifestyle and needs might evolve in the next five to ten years. There are several types of residential buildings to choose from and you to narrow your search based on what you’re interested in.
In this Redfin article, we’ll discuss the difference between single-family homes, condos, and townhouses, and decide which is right for you. Read on to find out the characteristics, benefits and drawbacks of each type of residential building, whether you’re searching for a condo in Philadelphia, PA, or a home in St. Louis, MO.
Single-family home
Single family homes (often abbreviated as SFH) are homes built on a single lot, with no shared walls. Sometimes there’s a garage, attached or detached.
| Pros | Cons |
| Single-family homes tend to offer more privacy and space than other types of homes, and frequently come with private front and back yards. Since you don’t share the property with anyone else, you are free to express yourself with any type of home design you choose. You’ll also have a more reliable resell value than condos and townhomes. | This home type generally requires a lot more maintenance, and all of the cost for that falls on the shoulders of the homeowner. With condos and townhomes, you share the costs involved with yard maintenance, plumbing, roofing and building amenities. |
Condominium
Condominiums (or condos for short) are single units within a larger building or community. Condos share a wall or two with other units, and generally come with homeowners’ associations (HOAs), which require the residents to pay monthly or yearly dues. They are popular in urban, high-density areas, where there are many restaurants and shops.
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