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Home Buying Basics - Different Home Styles

People move houses 5 to 7 times, on average, during their lifetimes according to National Statistics. This translates to you moving houses at least once in a span of 5 to 10 years. You might want to move to a different home because of your changing needs or you are entering a new phase in your life.

Houses come in different styles that can match your varying needs at any phase in your life. There are condominiums suited for those living alone and for newlyweds. There are also single-family houses that can accommodate large families and even mobile homes for those who may want to move around. When buying a house, it is important to consider what each style of homes offers and if these match up to your needs.

Condominium: Condos are perfect for those who are looking for an affordable way to live in a city. Condos became popular during the 70s and buying one does not mean you actually own the unit in the strictest sense, explains Ilyce Glink, who wrote the book '100 Questions Every Home Buyer Should Ask'. Instead, you are investing in the shared properties of the complex such as the stairs, walls, flooring and ceilings.

Townhouses: Townhouses are also called as 'row houses' due to the fact that they are arranged together in such a way that two units share a common wall. Town houses are much like single-family houses in terms of ownership terms. Some however, do require owners to be part of a homeowner's association to pay for shared facilities such as fitness centers, laundry room, and parking lots.

Single-Family Detached Homes: These homes come in a wide range of floor plans, styles and sizes. Single-family detached homes can be built on separate lots or be part of a community. In addition, almost all single-family detached homes have independent ownership and maintenance responsibilities. This just means that the owner incurs all fees for the upkeep of the home.

Mobile Homes and Pre-Fabricated Homes: Mobile homes are designed to be moved whenever needed, so you never purchase the land that the home sits on. Mobile homes are fully equipped with basic home amenities and appliances, and can be an affordable alternative to purchasing a regular home.

Pre-fabricated homes are a step above mobile homes, and are typically designed with sturdier materials and better construction. They can still be moved from site to site, but are of a higher quality than the average mobile home. And, just like the mobile home, you would only be responsible for renting, not buying the land it sits on.

Understanding the key differences, benefits and drawbacks of different types of homes can get you started on your search and help you make the best decision on your new home purchase.

Forecasting your future for the next three to five years can also help you narrow down your choices; if you have a large family and want to stay in a particular neighborhood, a single family home or townhouse may be the best fit for you. If you're young and single and not sure where you want to live in the next 5-10 years, a condominium may be a better investment as a first time home buyer.

When looking for MN homes for sale, searching the internet is one of the easiest ways to find the types of real estate your looking for. People use the Minnesota MLS to view most of the homes that are currently on the market.