While fewer and fewer people tend to be buying, home ownership tends to be a box on most of our life checklists. After all, who wants to pay someone else’s mortgage for them when you could be paying off your own. In a way, renting can feel like throwing money away. When you buy, you’re investing in something you can keep. You’re securing a space that you can call your own. You don’t have to ask permission to put up shelves, make alterations to the property, or do anything else. You gain independence. So, if you’re looking forward to getting your foot on the property ladder, here are a few different types of housing that you might want to look into. There’s bound to be one out there that will suit you to a tee!
A Condo
Condos, or condominiums, tend to be small properties that best suit individuals who don’t need a whole lot of living space. Generally speaking, if you live alone and don’t have any large pets, a condo could prove to be absolutely perfect for you! Most condos will generally have two rooms at most. The smallest types of condos might be referred to as studio apartments. When you look into buying a studio apartment, you’ll view properties that are completely open plan, usually with just one room that contains a bedroom space and a kitchen or kitchenette, then a bathroom attached. These tend to be really low cost compared to other properties and are most often sought after by students, starter professionals and others who like small and cosy living spaces. The next step up is a one bedroom condo, a two bedroom condo, or you could buy executive condo. Now there are always perks that come with living in a small space if you really don’t need a large space. First of all, you’ll usually be able to find these properties in city centres where there are lots of local public transport links, shops, bars, restaurants, cafes and places where you’ll be able to find entertainment. Small spaces also tend to require less overall maintenance. They’re easy to keep clean and there’s less to go wrong within them. On top of this, they tend to be pretty energy efficient. The smaller the space you’re providing with energy and heating, the less outgoings you’re going to find in the form of bills.
Detached and Semi-Detached Houses
Both detached and semi-detached houses tend to be the most common form of housing. They’re favoured by families who need more than one room and they can offer the perfect space to raise children in. But what’s the difference between detached and semi-detached? Well, a detached property is one of the most desirable sought after family homes. When you have a detached house, none of your walls are attached to anyone else’s house. Instead, the property stands alone. This can provide you with a little more privacy. You also don’t have to overhear anything that’s going on in your neighbour’s house. In a semi-detached property, one of the walls of your home is attached to someone else’s. This is still fine. You do just share a wall. A terrace home is a third option that you might want to consider. This is a house in a row of properties. Both sides of your property will be attached to someone else’s.
A Cottage
Cottages are older homes with traditional structures and features. Many tend to span across one floor, but some do have two floors. If you take on a cottage, you’ll take on a property that has a whole lot of history behind it and it may have some beautiful period features, such as beams, window seats or even spiral staircases. However, you may find that you take on a lot of work too. Many can experience problems simply due to their age and may need more modern features, such as up to date insulation or double glazing, added on too. All in all, a cottage should be deemed an investment that you’re willing to work on to make a comfortable place to live.
A Canal Boat
Canal boats, of course, are an alternative form of housing. Relatively few people live on them, but those that do tend to adore the lifestyle that it comes hand in hand with. As long as you don’t suffer from any form of motion sickness, a canal boat could prove perfect for you. This, of course, is a home that will provide you with a very limited space to work with. You’ll often find that you have even less space than a studio apartment! But if you have few belongings and are comfortable in snug surroundings, it can actually be pretty cosy. Generally speaking, there are specialist companies that finance canal boat purchases, or you may even be able to buy one outright. Some canal boats will cost the same as the average house deposit. Just make sure to properly look any boat over before investing. You don’t want to buy it only to find out it needs a whole lot of work carried out on it before it can be deemed liveable.
These are just a few different types of property that might strike your interest. There are so many more out there! What’s most important is that you know all of the different options you have available to you and that you spend a long time researching before you start your property search. Knowing what you want before you get started can save you a whole lot of time and effort during the house hunting process, which can already prove stressful in and of itself.
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