What Are the Different Types of Homes You Can Buy?
- By Jim Blackburn
- on
- 100 first time home buyer FAQs
First-Time Buyer Guide to Single-Family Homes, Condos, and Townhomes
š” Buying your first home? One of the first questions to ask is: what kind of home actually fits your lifestyle?
From low-maintenance condos to spacious single-family homes, understanding your options helps you shop smarter and avoid surprises down the road.
1. Single-Family Homes Offer Space and Privacy
A single-family home is a standalone property ā no shared walls, no upstairs neighbors. It usually comes with a yard, a driveway, and maximum privacy. Itās a great fit if you want space to grow, raise a family, or simply enjoy having a home thatās all yours. Just remember: more space often means more upkeep.
Ready to see what a single-family home would cost you? Calculate your Conventional Purchase Loan Payment now to understand monthly payments, property taxes, and total housing costs for different price ranges and home types.
2. Condos Keep It Simple and Low Maintenance
Condos are perfect for buyers who want less responsibility and more convenience. You own everything inside your unit, but share amenities like the gym, pool, or rooftop deck. HOA fees cover building upkeep, but that also means youāll have less control over rules and renovations. Still, itās a smart, affordable option in many urban areas.
Planning to rent out rooms or units while you live there? Calculate your FHA 2-4 Unit Home Purchase Cash Flow Appreciation now to see how house hacking with a multi-unit property could help cover your mortgage while building equity.
3. Townhomes Blend Privacy and Affordability
Townhomes are the perfect middle ground. Youāll usually share walls on one or both sides, but still enjoy multi-level living, often with a small yard or garage. Youāll get more square footage than a condo, but without the higher price tag of a single-family home. For many first-time buyers, townhomes offer a solid mix of independence and value.
Not sure which home type fits your budget best? Visit our Buy a House page to explore financing options for single-family homes, condos, townhomes, and multi-unit propertiesāand find the perfect match for your lifestyle and goals.
Find the Right Fit ā and the Right Financing
At Stairway Mortgage, we don’t just help you buy a house ā we help you buy the right one. Let’s build wisely and grow your future.
š Download our homebuyer guides about different home types.
š§® Compare costs with our Conventional Purchase Calculator.
š Explore all options on our Buy a House page.
š Check Current Rates for your home type.
Ready to Take Your First Step?
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