Life On Lake Lanier - Lake Lanier Real Estate

There are many options available to the homebuyer nowadays, and it is important to decide what would best suit you and your family before you begin the sometimes long and arduous processing of finding your dream home. Before you decide, however, you may want to visit a few examples of each of these types of homes to see exactly what kind of a situation they provide in terms of comfort and practicality.

The obvious and most popular type of home available is the Single-Family Detached . This is, simply put, a house meant expressly for one family and that is not attached to any other house or dwelling. It has its own lot of ground for which the owner is responsible and no third party has any right of ownership on the residence or respective plot. However, any remodeling or adding on to the structure must comply with any ordinance applicable, as well as, if applicable, any rules set out by an association.

Another type that is also somewhat popular is the duplex . This is a house that has either been built with the idea of housing two families, or has been converted into two dwellings by a previous owner. Each part of the house has the resources necessary for a family to live independently, such as bathrooms, kitchens and bedrooms. There are also structures available that offer dwellings for three (triplexes) or four families (quadraplex). These dwellings are not sold separately, and the cost is usually not much more than what a single residence would sell for, therefore, it becomes very good rental property for either someone interested in living in one side or renting out both sides.

Townhomes are structures that have more than one dwelling, but that are sold separately to individual owners. The dwelling normally have their own yard or small outside area that the owner is responsible for as far as maintenance is concerned, as well as individual entrances. With townhomes, there are restrictions that apply for any improvements or changes that the owner may want to make, so before you commit yourself, make sure that you will be able to make the changes you have envisioned.

Condominiums , like townhouses, are independent dwellings inside one structure and are purchasable by individuals, but unlike townhomes, ownership is usually limited to the interior of the dwelling that has been purchased, meaning that the exterior (of the dwelling), including the lawn and the interior of the building that is not inside any one purchased dwelling, is controlled and maintained by an association of which all the owners are members and have a voice in any improvements or changes that are to take place.

The association to which these dwellings are subject may have very stringent rules as to what is allowable for an owner to do in terms of remodeling and also certain behaviors, so, like with townhomes, you need to make sure that you can abide by the laws before you purchase. The advantage to this type of home, though is that there is very little maintenance or upkeep to be bothered with, as well as no landscaping necessary. Window boxes are as strenuous as it gets.

One type of condominium that is noteworthy of separate consideration is cooperatives . The feature that makes cooperatives unique is that, instead of owners having individual mortgages for the dwellings in which they live, a cooperative involves one mortgage note, which all of the owners share payment, and ownership comes in the form of shares of a corporation to which the building belongs. Before purchasing this type of housing, there are some potential drawbacks to be considered. Resells must be with the approved by other owners, which may hinder quick sales, and, if one owner defaults in his share of the mortgage, it could lead to some financial problems for the other owners in terms of mortgage upkeep to avoid foreclosure.

Mobile Homes or Manufactured Homes , are usually sold separate from a specific lot, and which must either be purchased or rented by the buyer. There are mobile home communities in which a lot can be rented for very little monthly. Or, if a more private living arrangement is desired, land can be purchased specifically for the placement of the mobile home. Manufactured homes used to be rather limited as to style and comfort, but the standard has been raised and they can be both comfortable and large, for a lot lower price. Before considering this option, however, remember that in terms of resell, this is not the best option. These types of home normally do not appreciate and the land will be the only valuable commodity you will be left with after years of ownership, that is, if you have not been renting the lot. This alternative is good for those who are looking for a long term residence with minimal cost.