October 12, 2016 | Tips & Advice What type of home is right for you? When it comes to choosing a home, things can get tricky. There are many options out on the market at the moment, and seeing as this is a major investment, you must be certain of your choice. Before choosing the type of home you’d like to own, it may be easier to go through some points that will help you decide. How many people will be living in the new home? This is an obvious one because it will determine the house size and style. A one-bedroom apartment won’t fit a family with kids, and a large 3-storey villa is probably too big for a family of two. Figure out how many rooms you will need now and in the near future. Narrow down your options to avoid distractions. Are you planning to relocate soon or is this a long-term home? Although this is a tough one to answer, because relocation is unpredictable, you probably have a plan in your head of where you want to be. If your stay is temporary, then you shouldn’t worry too much about where you are staying. If, however, you want this home to be passed down to your kids and grandkids, then an informed decision must be made. Do you have a specific budget? Figuring out your budget will help you focus on a specific size, type, and residential area. Don’t waste your time looking at homes you know you cannot afford. Filter out the ones that aren’t right for you and go straight for desired dream home. Filter out the ones that aren’t right for you and go straight for desired dream home. Now that you have a rough idea of what you’re looking for, it’s time to take a look at the different type of homes out there. Apartments Apartments come in all shapes and sizes, ranging from studios and one-bedroom to five or more bedrooms. Since they are in buildings, make sure you are comfortable with the landlord and neighbors you will be sharing space with. If you are single or part of a small family, you should opt for a cozy apartment that will be easy to maintain. Villas If you dislike having neighbors too close by, you should consider a stand-alone villa. Again, they come in different sizes, from single-story to perhaps three or four floors. Some villas come with gardens and pools, a huge plus for those seeking a private area to relax and unwind. Villas are perfect for large families and allow enough space for the kids to run around. Townhouses Somewhere between an apartment and a villa is a townhouse. It provides the solitude of a villa while still preserving the community feel of an apartment. Townhouses are condensed houses, usually two-storey or more. To put it simply, imagine it as a house that is divided down the middle, with neighbors sharing common vertical walls. One of the benefits of a townhouse is that it feels like a private villa, with no neighbors above or below you. They sometimes come with a private garden. Penthouses Penthouses are synonymous with luxury. They usually occupy the top floor of an apartment building. While they are in theory part of a shared community, they have the advantage of being tucked away from all the noise below. Their large size puts them closer to houses, as they sometimes take up the entire floor area. These types of homes are for people seeking a lavish lifestyle, one that combines the benefits of apartments and villas in a deluxe way. Some penthouses even come with a large private terrace and can only be accessed through the elevator with a key. Tips & Advice Home Value: Essential steps to determine your home value Tips & Advice How to determine the right rental price for an apartment Tips & Advice For landlords: What to do if a tenant doesn’t pay rent or pays late? 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