4 Alternative Options When Buying a Forever Home

Whether you are a first-time homebuyer or seasoned house hopper, you know that the options are endless. Instead of being intimidated by the sheer volume of choices, take a step back. Decide what is most important to you in a forever home. Then, look at the types of properties you can buy. Find out which category ticks the most boxes on your checklist of wants and needs.

1. Custom Build

Custom builds are often a consideration of potential homebuyers. Especially when you are looking around an area and nothing sticks out or fits all of your criteria. Custom homes are the best way to pick out every little detail. If you’re a stickler for design or can’t find anything you like within your budget, this may be the way to go. The custom home building process sounds intimidating, but do a little research to find a company you are comfortable working with. They will help you craft the home of dreams on a lot of your choosing.

2. Townhome

Another option when purchasing could be a townhome. A townhouse is generally defined as a three-story or more home that is included in a row of other homes. For this reason, they are also known as row homes, especially in urban areas. Think of the side-by-side residences lining the streets of New York City.

However, townhomes don’t have to be in large cities. In fact, they’re popping up everywhere around the country. Often, you will be able to find new construction options for a lesser price than a detached home. Sounds good, doesn’t it? There are some key things to keep in mind, though:

· A garage may or may not be included

· You may have to share walls

· Some communities charge extra HOA fees

If you don’t mind stairs and close-by neighbors, a townhome could be a solid choice. Even better, you can look for a structure where you don’t share walls, and only the garage is attached. In any case, the townhome association may charge HOA fees, but that lets them do all of the yardwork and external maintenance for you. This can be a massive perk.

3. Condo

Similarly, you can look into purchasing a condo. Condos and townhomes are so similar, in fact, they often get confused for each other. Think of condos more as apartments that you can own, rather than terraced, single-row homes. Condos are also often seen in large cities, because the buildings need to be built up around the skyscrapers rather than spaced out. However, they are also available in rural and suburban neighborhoods. Many of the considerations of townhomes also apply here.

4. Commercial Space

If you are a current or hopeful business owner, consider living in the same space as your business. This means you can run your company from your home. The initial cost of the building will cover your business space and your living space. Just make sure it is zoned commercially.

Whichever option you choose, make sure it ticks the most boxes. You are investing in this property for years to come. Do some market research, and work with experts in the area of interest. Make your forever home work for you.

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