real estate

Buy house, condo or town house as 1st home?

What type of home will you buy?
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Rent or buy? When you see this you'll know
By Jean Chatzky

What type of home will you buy? © Vladislav Gurfinkel/Shutterstock.com, © karamysh/Shutterstock.com, © alexmisu/Shutterstock.com

What type of home will you buy?

When it's time to buy a first home, many buyers confront the question: single-family house, or a unit in a multifamily town house or condo?

Prospective homebuyers have to consider many factors, including:

  • Location and lifestyle.
  • Maintenance costs.
  • Rules of ownership.
  • Lending and price.
  • Monthly fees.

Here is a more detailed look at how to decide whether to buy a house, town house or condo as a first home.

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