Home Types

Townhouse

Townhouse usually consist of non-uniform units designed to mimic detached homes when located in a suburban setting, but share one or to walls with neighbors. In Canada, and especially in Ontario, townhouses are spilt into two categories: regular townhouses - require fees for general maintenance similar to condos and apartments; freehold townhouses - no user fees, occupants maintain their own unit.

Pros  The purchase prices and taxes are generally low. Experts claim that re-sale is better than of condos. Maintenance effort is than in detached homes.

Cons You don’t own the land most of the time. Some experts say that townhouses don’t appreciate in value as much as semi or detached.

Semi-Detached

Is usually abbreviated to semi, as in "three-bedroom semi" and known as a duplex in the USA, Canada, Europe and Australia, consists of pairs of houses built side by side as units sharing a party wall and usually in such a way that each house's layout is a mirror image of its twin.

Pros  You own the land and it appreciates. It is easier to finance than townhouses and condos. You get more privacy for lowest cost.

Cons Cost more than townhouses or condos. You still share one wall with the neighbor.

Detached

Single-family home is a free-standing residential building, generally found in less dense urban areas, the suburbs of cities, the exurban region, and rural areas. Most single-family homes are built on lots larger than the structure itself, adding an area surrounding the house.

Pros You own the land and it appreciates better than in other types of properties. Because of no common walls the privacy is the greatest. Experts consider them to sell the quickest.

Cons The cost of purchase and of taxes are the highest. Maintenance efforts are also the biggest.

It is a living space that is not divided into rooms, usually with a small room build above this undivided space. There are two types of lofts: hard and soft. Hard lofts are older ones, former commercial buildings converted into residential space. Soft lofts originally are build to become residential property and usually have high ceilings, large windows and open concept design.

Pros Usually are condominiums so the maintenance effort is minimal. Gaining popularity so the prices are rising.

Cons Not really suitable for family life, some experts argue that in a long run lofts don't appreciate in value. Cost more than regular condominiums.