One of the more difficult aspects of house hunting can be demystifying the different terms developers and realtors use to describe a style of home. Here are some common terms widely used in Southwest Florida real estate listings.
Condominium/Condo
A condominium is a complex or building consisting of many living units, which are each owned by individuals. The common areas of the complex or building, such as the parking lot, the land and the amenities built on the land, are jointly owned by the unit owners. A condominium also refers to the specific unit in the complex or building. In contrast to townhouses, condos are typically one floor and do not include any individual land ownership.
Pros
o Less expensive than single family homes
o Low maintenance lifestyle ? easy to clean and keep-up
o Maintenance fees cover common area maintenance including roof repair and replacement, exterior maintenance
o Often includes amenities such as a community pool
Cons
o Noise from neighbors through shared walls
o Association fees and politics
o No associated land ownership
o One-floor
Townhouse or Townhome
Characterized by two-story construction, a townhouse is one of a row of homes sharing a common wall or walls. Differing from condominiums, townhouse ownership does include individual ownership of the land. There can also be common elements, such as a central courtyard, that would have shared ownership.
Pros
o Less expensive than single family homes
o No neighbors above or below
o Often includes a small fenced yard
o Low maintenance lifestyle ? fees cover common area maintenance, including roof repair and replacement, exterior maintenance
o Often includes amenities such as a community pool
Cons
o Noise from neighbors through shared walls
o Homeowners? association fees and politics
o A townhome or townhouse will typically have a small yard or no yard
o Might have common stairwells
Carriage Home or Coach Home
Both terms are commonly used but describe essentially the same offering ? a dwelling with an attached garage. Many times the garage is on the ground floor and living is on the floors above the garage. Carriage or coach homes can also be on a single level and have an adjacent garage. The term ?Carriage House? refers to a building from the days when transportation required horse carriages. A carriage or coach house was a sort of garage in which the horse and carriage were stored, separate from the house.
Villa
The term villa used to conjure up images of a luxurious country home on extensive grounds. According to Wikipedia, the term has now evolved to describe a detached or semi-detached suburban home that is free-standing in a landscaped plot of ground, as opposed to a ?terrace? of joined houses. The villa concept lives on in Florida, Southern Europe, and Latin America as being associated with a prestigious social position and lifestyle.
Source: http://www.spinflow.org/demystifying-developer-descriptions.html
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