Finding an ideal home at the right budget can be a daunting task, especially in scenarios where compromise is needed between partners to select one that both parties agree with. Before embarking on a house hunt, it’s advisable to determine your budget for the home, location, family size, and the type of home you desire.
Arizona has an array of real estate homes for purchase ranging from homes that cost more than 500,000 dollars to patio homes. This article will delve into the types of real estate that you can find in Arizona.
What exactly are single-family homes? The US census bureau describes a single-family home as any home separated by ground to roof wall, including townhouses. Other people refer to single-family homes to refer to only those homes whose structures don’t share any walls with any other residences. The appropriate definition of a single-family home can be summed up by ownership and the property’s ability to function as its single unit.
The owner of a single-family home owns the land that the home sits on and the building; this contrasts with condors where common spaces are shared. Single-family homes do not share utilities and air conditioning systems with other homes.
Single-family homes are all over Arizona; Scottsdale, Tucson, Mesa, to Phoenix. However, because of Mesa’s rapid growth and relatively low housing cost, it’s regarded as the most popular city to buy and sell a home.
Pros of Single-Family Homes
Space and Privacy
Single-family homes are an excellent choice for families that need extra space. Whether it’s a larger primary bedroom or a more spacious kitchen and basement, you can extend the area of your space as long as the home compound space allows you to.
Moreover, single-family homes provide your family all the privacy that it deserves because they are not squeezed together with any other family or forced to share utilities and ceilings. You won’t have to worry about someone else listening to your private phone conversations or a nosy neighbor listening to your private conversations, phone calls, or arguments.
Unlike shared residences like condos, you have the liberty to customize your house whichever way you like, provided it’s within the homeowners association’s limits. For example, if you don’t like your balcony, you can adjust it. If your floor doesn’t please you, you can remodel it too. You can remodel the interior and exterior of your house whichever way you want.
Cons of Single-Family Homes
The asking price for single-family homes is generally higher than other dwelling types in comparable areas. This makes them unaffordable or unfavorable for first-time homebuyers and other buyers with low buying power. First-time buyers often consider buying condos because of this reason.
High Recurring Costs
Community HOA fees are higher for single-family homes because any form of repair or utility payment is not split but paid for in full by the family.
A condominium is an individually owned residential building in a complex or a building of like units. The condo owners own the individual units but share common spaces like corridors, amenities, and other resources.
Condos are spread all over the densely populated cities of Arizona but are most popular in Phoenix and can be found from as low as 80,000 dollars to as high as 1.42 million dollars. It all depends on the taste and budget of the buyer.
Pros of Buying a Condo
Depending on your budget, you can find additional amenities like a shared swimming pool facility which may not be as expensive as single-family dwellings. You also will not need to maintain these facilities since the homeowners association maintains them.
Unlike single-family homes, the condo’s maintenance is lower since many facilities are shared, and the condo management does upkeep shared spaces.
Depending on the size and location of the condo you are going for, they are normally cheaper than single-family houses of comparable sizes.
Cons of Buying A Condo
Utilities and spaces are shared in condos, limiting an individual’s sense of privacy. Disturbance for neighbors who stay adjacent to your house, above or below you, is hard to escape. Someone may easily snoop into your private conversations if noise proofing wasn’t considered in the architectural designs of the complex.
Making appropriate changes to the house cannot be done without prior approval from HOA. Other restrictions can include pet restrictions; you may also be restricted not to rent out your house to anyone else. The freedom in your home is limited, lest you disturb your immediate neighbors with your noisy lifestyle or many visitors.
A patio home is a dwelling that shares at least one wall with another home, and the houses usually don’t rise more than one story tall. Patio homes are spread evenly in the countryside and fewer in densely populated cities. Their costs vary depending on the size, quality, and location of the home.
Pros of Buying a Patio Home
●You can modify and extend your backyard
●Some utilities are shared with your singular neighbor
Cons of Buying a Patio Home
●They are more expensive than condos of comparable sizes
●Compared to single-family homes, they have less privacy
Town homeowners own the interior and exterior of their homes, just like single-family homes. However, the difference is in the way they are managed or governed. The HOA manages the shared amenities such as pools and tennis courts.
Pros of Townhomes
●Accessibility to extra amenities that are shared
●You can make changes to the exterior and interior of the house
●More affordable than single-family homes
Cons of Townhomes
●HOA fees and restrictions, just like condos
●Lack of privacy
●Lower resale value than single-family homes in some areas
●Less square footage compared to single-family homes
Homes with a Pool
These homes sit on big square feet of land and possess swimming pools in their backyard and large lawns. These types of houses are popular in the Phoenix area. However, recent studies suggest that such homes are getting fewer in Phoenix.
●Accessibility to a private pool is beneficial, especially in the summer
●Privacy is ensured as opposed to townhouses and condos
Homes with No HOA
These are homes with no HOA communities. The owners of the homes own the land and the building and control everything about the home. Buckeye homes for sale with no HOA have been incredibly popular in Arizona over the last five years, with Phoenix and Scottsdale taking 2nd and 3rd place, respectively.
●Recurrent costs are low since there are no HOA fees
●The homeowner has the freedom to do or build whatever he/she pleases in his yard
●The homes are more private compared to townhomes and condos
●Buying the home is more expensive compared to single-family and townhomes
These types of homes are located across the state of Arizona. Many types of homes can be classified under this category, provided they are luxurious and cost above half a million dollars. Some single-family homes, condos, and homes with pools are as luxurious as they get and cost upward of 1 million dollars.
●The privacy and security in these kinds of homes is enhanced
●They are luxurious and comfortable
The homes are out of most buyers’ price range.