From condos to multi-family homes, where to begin?
Every home buyer is familiar with single-familyresidence but thereare other options that might provide additional
opportunities for buyers willing to widen their search. These types of properties provide the advantages
of home ownership and the benefit of some shared maintenance.
Condominiums Condominiums areoften amoreaffordable option and appeal to those who aren’tinterested in doing alot of yard maintenanceand want shared amenities such as pools,roof decks and common areas.Condos have a homeowners association that charges amonthlyfee.Capital expenses such as drivewayrepair areshared by all owners.
Small Lot Development Asmall lotordinance in place for the city of Los Angeles allows for multiple houses on asinglelot.These unattached homes areoften morevertical and designed with an eyetowardmodern living. The homes mayshare common spaces and have homeowners associations.
Multi-Family Residence Duplexesand triplexesare often seen in morehistoric parts of town. Some homeowners purchase aduplexortriplexinorder to rent out aseparate unit for additional income. These buildings can also appeal to those who arelooking for multi-generational housing.
Townhomes Townhomes aresimilar to condominiums but generallyhavefewer shared amenities,fewer shared wallsand sometimes have theirown garages and backyardspace. Atownhome development generallyhas ahomeowners association in place for shared expenses and theremay be amonthly association fee involved.
