Defining your property and what you are looking for

Clients often wonder just what they should call their property for sale. Buyers and renters can be frustrated by the myriad of definitions used to describe real estate. This article defines the most commonly sold homes for the benefit of clients on both ends of a prospective deal.

An apartment is a multi-unit residential building. All units are owned by one entity and offered for rent. They may include features of lofts, flats or townhouses. Most provide common areas for use by the residents.

The rich cousin of the apartment is the condominium; a property located in a multi-unit housing development where each residence is individually owned and each owner has access to common areas. Condos usually feature at least one wall shared with a neighboring unit. Occasionally includes a private area of land and always includes a homeowner association fee. The greater the landscaping and amenities, the greater the fee you will pay.

A house (see also The American Dream) is a single-family residence, on a lot by itself that usually has a front and back yard. We do not generally define mobile or modular homes as houses. Houses may be, however, pre-fabricated (see many examples at www.lincolnlogs.com).

A duplex is two single-family residences joined by a shared wall. A duplex may be on a lot by itself, as with a house, or may be part of a complex. The best type of duplex is joined at the garage and non-sleeping rooms to ensure better sleep for both sides of the building.

Lofts are a style of housing that generally features high ceilings, exposed ductwork and no interior doors. Usually they are housing converted from other types of buildings, although some new properties are now purpose-built in this style. A loft is a common form of condominium in larger cities.

A flat is part of an older building that was previously a large house and which has been subdivided into private residential units, each usually occupying or sharing a single floor. Flats are occasionally available as condominiums.

The mobile home is a residence that is ostensibly capable of being towed by a transport truck. They may be single-wide (one movable section) or double-wide (two movable sections joined together, generally closer to the modular home in concept) and may feature additions that are not portable. These are a step up from living in a trailer as all of your utility connections are permanent or semi-permanent.

Modular homes are residences similar to, yet stouter than, mobile homes in construction. They were never capable of being towed, but are transported on a flatbed truck or trailer in completed sections to the home site. There they are either set on a foundation or footings.

The townhouse property consists of two or more floors, sometimes with a garage as part of or taking up one story. Each townhouse shares at least one wall with neighbors, but has its own entrance, and sometimes a small area of land, perhaps shared in common. Townhouses may also be condominiums, but not all condos are townhouses. It may be part of a row or complex of multiple homes with similar designs.

There are certainly other types of residences in addition to the above, but these are the most common. The human mind is unlimited in its potential for design in architecture. As realtors, we strive to bring like minds together.