There is an array of houses for sale in Richland WA, and the most popular styles of housing that are requested are single-family homes, condominiums, townhomes, apartments and co-ops. Here’s what potential buyers should know about these housing options.
Legally, single-family homes are defined as “structures maintained and utilized as a single dwelling unit.” However, single-family homes typically also feature the following characteristics:
- No common walls
- Private entrances and exits
- Private land
- Individual utilities
- A single owner or household
Single-family homes come in many forms such as luxury estates, modest homes, haciendas, villas, ranches, etc.
Condos are connected units that allow you to own the interior space of your unit while sharing ownership of the actual structure and common areas along with the Homeowners Association and other tenants. Essentially, you don’t own the building itself, but share ownership. This is why dues are required for exterior upkeep of the structure and common areas.
Condos come in architectural styles such as single-story, split-level, multi-level and they may have basements and attics in addition to neighbors below and beneath you depending on the structure. You may or may not own a small plot of land in front of or behind your unit, but most often not. Property taxes are the responsibility of each owner.
The primary difference between condos and townhomes is that condos are defined by a type of ownership and townhomes refer to a construction type. One may own a townhouse and will also own the land upon which it sits. You’ll likely be connected to others in a row-style design, and townhouses are typically two stories or more without any neighbors above or beneath.
Yes, apartments are traditionally rentals but they can be bought as well. An apartment can be a space that’s also rented by a homeowner, and they can also be multi-unit housing complexes such as duplexes, four-plexes, etc. These spaces are also referred to as apartments.
Unlike condominiums, co-ops aren’t considered ‘real property’ but rather you become a shareholder in its ownership who’s entitled to the private use of a housing unit within the property. There are no landlords or tenants, so the partners make all of the decisions and residents pay ‘dues’ on at at-cost basis.