DIFFERENT TYPES OF RESIDENTIAL REAL ESTATE PROPERTIES IN CANADA

A home or shelter is one of the most basic needs for an individuals survival. Even though a home is considered as a basic need, its is also one of the most important need. Real estate properties especially residential properties have come a long way over the last few centuries from thatched roofs and caves to now a multi billion dollar industry.

Owning a home has gone from trying to protect an individual from hush weather conditions to determine how financially stable an individual is. Depending on the part of the country you live, different types of properties are available to suite your individual needs. 

In this article, we are going to take a look at some of these properties and you might identify the one you would be comfortable acquiring especially if you’re in the market looking to buy one. A real estate lawyer in Brampton is also well equipped to handle any real estate related issues one might have.

APARTMENTS

Apartments are simply individual units of a bigger building. The entire building is usually owned by a single entity and the individual units ofd the property is leased out. Apartment buildings are usually located in the heart of the city and have social amenities such as, pools, gyms, laundry rooms and also conference rooms. Residents living in apartments are required to pay monthly fees for the upkeep of the property.

CONDOS OR CONDOMINIUMS

Condos just like apartments are units in a single building. However, unlike apartments, condominiums are available for ownership. A unit can be purchased by an owner and furnished to ones taste. Therefore, the maintenance of this type of property is solely the responsibility of the owner. However, there are still monthly charges incurred by the HOA for the maintenance of public amenities.

A FLOATING HOUSE

This type of property isn’t in high demand. It has a thin list of clientele. Floating houses are designed to float on water as the name suggests. Floating houses aren’t built to be big in size, they are however designed to use up every inch of space very efficiently. However, there is a lot of downside owning a property like this. This includes floods, dangers of the inhabitants drowning and also there’s a long distance from transport services.

A CONTAINER HOUSE

A container house was not always popular. In fact it is still considered as a latest home innovation. However there are a lot of perks owning a container home. Container homes are uniquely built and are very strong, very easy maintain and also very quick to construct. Container homes used to be considered as basic housing however, over the years, they have taking a turn to be another form of luxury living. A five container home can house an entire family.

We have dived into some unique forms of residential real estate properties in many cities across the country and taken a look at some of their unique traits. If you’re in the market to purchase any kind of house, contact Niro Law Professional Corporation for all your real estate related issues and also get a free consultation.