Interior designers should start by deciding what they’re going to do with a home before they begin.
For most buyers, it’s a decision based on price, location and amenities.
“I love my house in the city,” one buyer told me.
“But I love the home I grew up in in the suburbs, where I grew to love all the things, from the architecture to the landscaping.”
If you’re looking for an urban style, though, you’ll likely be better off getting a condo or townhouse.
If you live in a city, you can choose from a range of options: The traditional single-family house, which you can buy in a condo for $600,000; a townhouse with a backyard and rooftop pool, for $2 million; or a single-story townhouse for $1 million.
“You can buy one of those for $100,000 or more,” says Mark McLean, the editor-in-chief of the Real Estate Investor.
But don’t expect to see a lot of “home to call home” deals on these types of homes, because many aren’t affordable.
You’ll probably need to find a bigger house to accommodate the needs of your family.
If it’s the latter, you may be better suited to a townhome or townhome condo.
A townhome has a lower mortgage rate than a condo, but it’s also more expensive.
If your goal is to buy a town home and be in the market for a condo before moving to a house, McLean recommends you do some research first.
“It’s a great opportunity to learn more about the properties,” he says.
“For condos, there’s usually more info available, including a lot more pictures and information on the location.”
But if you’re just looking to get started, the basics of how to buy and build a home will be more than enough to get you started.
Read on for a quick guide to how to build a house.
Pros & Cons Pros A single-level home is more affordable.
If a condo is more appealing, you could buy it and move in in in three to five years, Mclean says.
The extra money you’d save on your mortgage will be even more substantial, he says, because you won’t have to make monthly payments for a while.
Cons If you plan on living in a town house, you might want to consider an entry-level condo, which starts at about $1.2 million and starts at $2.3 million.
You won’t be able to afford that much, however, because your monthly payments will be lower than condos.
If, like me, you plan to stay in town for the rest of your life, you should consider buying a condo.
McLean says the best way to determine which type of home you want to buy is to ask yourself two questions: “Do I need to have a home of my own, or do I want a house that has some character?”
“How much money do I need?”
Pros It’s not complicated.
Even if you don’t have a huge budget, McLeod says, you still have a few simple questions to ask: “How many bedrooms and bathrooms?”
“What’s the size of the living room and kitchen?”
Pros are cheap.
If the answer to any of these questions is “none,” it means you don “have to be a crazy person to buy one.”
In the long run, that means a big-name designer or architect can build a beautiful home for you.
The big question is, “What do I like about this house?”
Pros aren’t necessarily inexpensive.
In the short run, it will cost less, but you may end up with a house you can’t afford if you decide to buy it.
If this sounds like you, the best place to start is by searching the online home listings.
But if your goal isn’t to buy an “luxury” home, McVeigh recommends checking out the list of homes that are available on eBay, and finding out if they’ll sell for you before you decide whether to buy.
Cons It might take awhile to get used to.
While you may get used with the layout, there might be times when it’s difficult to walk through a room.
“The design is a big part of what makes a home stand out,” McVeild says.
That’s especially true if you live alone, which means you might find it difficult to adjust to the layout. Pros aren