When most of us think about owning a home, we usually imagine a typical two-storey, detached house. However, today's homebuyer has a wide array of home ownership options available.

With so many choices, how do you choose the type of home that's right for you? Your first step should be to enlist the services of a REALTOR^®. He or she can assist you in finding a home that matches both your financial needs and your lifestyle. Your REALTOR^® can also help you consider the pros and cons of different housing options. Some of those options include:

• Single-family detached "which includes two-storey, bungalow"
• Semi-detached
• Townhouse
• Duplex
• Condominium

To condo or not to condo?
Condominium living is a great choice for people who don't want the upkeep of a traditional home. Many first time buyers choose the condo option because it's often far less expensive than a house meaning they can get into the housing market sooner. Also, condo living is ideal for "empty-nesters" or retirees who wish to downsize.

Keep in mind that in addition to your monthly mortgage payments and taxes, you will be required to pay a monthly maintenance fee. This fee is your share of owning and maintaining the common areas of the condo development. You are subject to the rules of your condominium. Plus, you have little control over the amount of your monthly condo fees which are subject to change and you may have no choice but to accept increases as they occur.

Resale or new house?
Deciding to buy a brand new or resale home really depends on your preferences. Ask your REALTOR^® to help you weigh the benefits and drawbacks of each.

One advantage to a new home is that it's likely more up-to-date and usually has larger room sizes and better storage. New homes are built to meet modern comfort and safety codes, using the latest building materials and technologies - the result is often greater cost and enery-efficiency. It also hasn't been subjected to someone else's decorating touches. The downside is you will need to put out extra cash for landscaping, fencing, window coverings and appliances. Also, homes in a newly developed area may not be completed on schedule and may not have immediate access to amenities such as schools or shopping centres - these are generally built after the residential population is complete.

With a resale home, you are most likely moving into an established neighbourhood, so you can see which amenities and services are already available. You often get the additional features like landscaping for little or no extra cost. Many resale homes have already been upgraded over the years to include expensive items like central air conditioning, finished basements, decks or even a pool. Buyers of resale homes are usually fortunate to be able to purchase these upgrades as part of the selling price. The cons of a resale home include that an older home could mean higher maintenance costs in the short term, especially on major systems such as heating, electrical and plumbing. Resale homes come as they are, and you may have the added expense of changing wall colours, flooring or other interior design elements that don't suit your taste.

Choosing the home that's right for you is a matter of weighing your list of needs and wants against the benefits and drawbacks of the different housing choices available.

Whatever your choice, you'll want to have a REALTOR^® on your side to ensure you make the smoothest move possible.

Choose Scarlett to be your REALTOR^®. Choose Wise. Choose Style.