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.