Marnie Bennett is the exclusive real estate expert columnist for New Homes and Condos. Pick up your FREE copy at news stands and distributors throughout the city of Ottawa. See below for her new column "Home Smarts" and learn everything there is to know about real estate.Opening Yourself to the Possibilities:
Choosing the “Home Type” That’s Right for YouPublished in the May 8th issue of New Homes and CondosBuying a new home is an exciting process with a happy outcome – but to be perfectly honest, it can be a bit of a roller coaster ride. In reality, few of us are able to find our dream home, delve into our bottomless pockets and move in the following day.
After 29 years in the real estate business, I’ve noticed certain patterns in home-buying behaviour. While most clients have a fixed idea of the type of home they want before they begin searching, it’s surprisingly common for buyers to change their minds mid-search. One client may realize that they’re not as eager to mow a large lawn as they’d thought; another may discover that the detached home they’d dreamed of is beyond their means.
I encourage my clients to become familiar with the different property types on the market, and to keep an open mindset as possibilities are everywhere!
Condominiums - Condos are often purchased by single people and couples without children, with good reason! They offer a maintenance-free style of living that’s ideal for those with busy work and social lives. However, the owner pays a monthly maintenance fee for the privilege known as condo fees. Condominiums tend to come with smaller or no outdoor spaces, but they usually have an abundance of lifestyle amenities such as fitness studios, home theatres, hot tubs, roof top terraces and party rooms – an important consideration for downsizers and active singles.
While we often associate condos with downtown high-rises, they are increasingly popular in suburban areas; they may be townhomes, semis or even detached homes, and are common in adult-oriented gated communities. Condominium is actually a legal definition referring to the method of ownership, not the type of building. When you purchase a condo, the interior space of your home belongs to you. “Common elements” such as elevators, recreational facilities and outside grounds are jointly owned by you and the other homeowners in your condominium community.
Detached homes - A fully detached home provides the most privacy and, often, the most space of any home type. New detached homes are commonly built on lot sizes between 35 and 60 feet, although some new home builders – particularly custom home builders – may offer larger lot sizes.
Semi-detached homes - A semi-detached home is joined to another home on one side. If you’re having trouble finding a detached home in your budget, you’re likely to be pleasantly surprised with some of the semi-detached homes on the market. They often offer similar layouts and features for a lower price, due to lower construction costs and marginally smaller lot sizes. If privacy is a concern for you, be sure to tour the builder’s homes to observe how sound travels from one home to the next. Most modern semis and townhomes provide good sound insulation.
Townhomes - Like semi-detached homes, town homes often offer more than you might expect. Many condominium townhomes are “executive-style”, boasting high-end finishes. Condominium terrace townhomes are “stacked”, with upper units providing a large balcony or roof-top patio instead of a yard. Non-condominium townhomes, known as “freehold”, offer more freedom to change the landscaping and outer appearance of your home.
In my next column, I’ll address some practical ways to narrow your new home search. Until then, happy hunting!
Email your questions to mbennett@bennettpros.com
Or for more information on Ottawa Real Estate visit
www.bennettpros.com________________________________________________________________________
Marnie Bennett owns a boutique real estate marketing firm known as Bennett & Company, providing a full range of marketing services to real estate developers and builders. Marnie is also a broker and the team leader of the Bennett Real Estate Professionals with Keller Williams Ottawa Realty. The Bennett Pros are the leading real estate team in Ottawa providing 5 star services, with five star treatment.
