What Type of Home Should You Buy?

Freehold vs. Condos

Do you see yourself living in a detached single-family home? A condominium? Or, perhaps a townhouse? Maybe a duplex?

Freehold Properties

Single-family Detached - A single-family detached home is a one dwelling unit. It stands alone, and sits on its own lot.
Single-family Semi-detached - A semi-detached home is a single-family home that is joined on one side to another home.
Duplex - A duplex is a house containing two single-family homes, most often above one another.
Row House or Townhouse - Several similar single-family homes, side-by-side, joined by common walls.

Condominium Properties

Condo Apartment –You own the unit, and have a percentage interest in the common areas such as the hallway, amenities, etc.
Co-operative – You purchase shares of a private corporation which owns the building. You have exclusive right to use it. Down payments required are usually 30%.
Co-ownership - You purchase undivided percentage of the building that is registered on title, along with exclusive right to occupy that specific unit.