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Types of homes

When you think of purchasing a home, you probably think of a single-family home with a yard. However, there are many types of homes for you to consider.

  • Single family – May be stand alone or attached to another home; you own the land around the home and can do as you please with it.
  • Duplex – Two homes attached to each other on a single lot; you own the complete home (both parts) and surrounding land.
  • Planned Unit Development – Homes are part of a subdivision with common areas shared by the community. In PUDs there are usually restrictions about what you can do to your property. You’ll probably pay a fee to a homeowners association.
  • Condominium – Looks like apartments in that the home is attached to others and you share common areas. The homeowners’ association maintains community property, and you will pay dues to the association.

 

 

 

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Memphis Area Association of REALTORS®
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P.O. Box 171159
Memphis TN 38187-1159
 
Phone:
901-685-2100
Fax:
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