Different types of homes

By Alexis A. Acacio, contributor
Inquirer News Service

YOU have many choices when it comes to the type of house you can own. Looking at the various choices can confuse you and it would be best that you fully assess your real needs and real priorities (and your budget) in order that the buying or building process will be smooth and less stressful.

The various types of homes that you may own include:

Production homes

Production homes, as the name implies, are the manufactured homes that most real estate developers usually sell. With a few available models, usually about three or four to choose from, you can buy these homes "off the shelf," that is, what you see is what you get. Some of these homes are "bare" units and you have the option of doing the interior decoration yourself. There are production builders who offer different levels of finishes.

Production homes can be the easiest to purchase since they come in selected models and all you have to do is select the model that will suit your needs and that of your family. They are usually affordable since the seller or developer has the benefit of volume production or economies of scale.

Builders use the same plans over and over so they can become very good and efficient in producing these homes. A developed subdivision follows an architectural design theme so that the houses can blend with each other. For you to have an idea on how the finished units will look, different house models are usually shown to you complete with the interior decoration, furniture, lighting fixtures and appliances.

Custom-built homes

The theme and floor layout that you wish is followed in the custom home. It starts by engaging the services of a designer and telling him or her all of your requirements. You get to choose the materials to be used, the specific location of the rooms and even the sizes of the rooms. If there is a specific style that you may want -- Victorian, Spanish, Mexican, Mediterranean or any specific style -- you can have it in a custom home. A custom-built home requires that you spend time studying the design since you cannot preview how it will look like in a model home.

Your professional relationship with your designer and builder is very critical since you will be working together with them for about a year. Expect that custom-built homes are more expensive than production or semi-custom homes and the construction time usually takes longer.

Semi-custom homes

Semi-custom homes are homes that are built in a limited quantity and the developer or builder can accommodate minor changes. It is important, though, that you purchase these homes prior to their completion so that design changes can be done at the minimum cost.

This type of home is common for pocket developers or small volume builders. The color of the house interior or even the exterior can be selected as construction work progresses. Semi-custom homes are a cross between the production and custom home.

Townhouses

Usually located in areas in which the cost of land is high, townhouses are individual housing units that are attached to each other. The units are commonly separated by a common firewall and the entire area has a common architectural theme. Some townhouses have a common area where the facilities such as a clubhouse, swimming pool and a basketball court are located. Townhouses are usually near schools and commercial districts and are very accessible to main roads and public transportation.

Condominiums

Condominiums became popular in the 60s and were developed to accommodate urban living in areas in which the cost of land was high and building a single-detached house seemed economically impossible. It has a different concept of ownership -- absolute ownership of the condominium unit and co-ownership of the land and common spaces. Parking spaces are most of the time bought separately for most condominiums. A condominium certificate of title attests to ownership of a condominium unit.

Condominiums are located in business districts and accessibility to one's place of work is a common criterion in opting to live in one. They are usually high-rise, although a row of houses can also be a condominium. The condominium association in which all unit owners automatically become members manages the operation and management of the common spaces and utilities.

Mix-use infrastructure

Mix-use infrastructure consists of combined residential and commercial dwellings. For commercial areas, the units are for commercial use on the ground up to a few floors and then convert into residential use at the higher floors.

Mix-use dwellings can also be possible for medium-rise buildings in which the occupants live on the upper floors and their businesses are located at the ground floor. This type of setup is very common among self-employed individuals and entrepreneurs.

Used homes

Used homes (or condominiums, townhouses) are another option. You can buy them at a lower price and then renovate or repair them.

When buying a used car, buyers usually bring with them a mechanic to give an opinion on the overall mechanical condition of the car. In buying a used home, it is prudent that you bring along a design or construction professional who will give you a technical assessment of the property.

Knowing how much the repairs will cost prior to your purchase would give you an idea on the total cost of the property. Sometimes, tearing down the property and building a new one might be more economically feasible than repairing it.

Final advice: you have a lot of choices when it comes to deciding on what type of residential property to buy. Each type offers advantages as well as disadvantages. Assessing fully your real needs and how a specific property will satisfy these needs is a very important aspect of having your dream home.