Residential Home Types

When it comes to purchasing a residential home, you have numerous options. Each option has its pros and cons, so it’s important to choose a home type that will help you reach your homeownership goals.

SFR (Single-Family Residence): also known as single family detached, this means the home is a stand-alone structure with its own lot intended for one family.

Duplex:  a multi-family home that has two units in one building, regardless of how those homes are arranged. Units can be side-by-side or stacked on top of each other. Duplex buildings also have two separate entrances for each unit. This means each tenant has their own entrance.

Multi-Unit Property (2-4 Units): a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex. Units can be next to each other, or stacked on top of each other. 

Manufactured: a type of prefabricated housing that is largely assembled in factories and then transported to sites of use.

Condominium: an apartment house, office building, or other multiple-unit complex, the units of which are individually owned, each owner receiving a recordable deed to the individual unit purchased, including the right to sell, mortgage, etc.

Townhouse: single-family dwellings with at least two floors that share a wall with another unit.

Second Home (Vacation Home):  a home you don’t live in full-time but whose primary purpose isn’t as a rental property. Needs to be located at least 50 miles from your primary residence.