There are many different types of housing from rental apartments to condos to detached homes. Each offer unique features that appeal to people at different stages of life. However, with a range of housing options, you can select the type that best meets your needs, budget, location, and personal preferences while adapting to life in Canada.
Eight Different Types of Housing
Before beginning your search for accommodation in Canada knowing about the different types of houses to rent or buy is helpful. Deciding which type of home is right for you can be difficult. For example, a rental apartment is ideal if you are just settling in Canada. A condominium is ideal for people who have a busy lifestyle and want to avoid the costly property maintenance of a home. Or, if you have a young family, you may prefer a house with a backyard for your children.
Renting any of these homes in Canada rather than committing to homeownership can give you greater flexibility.
1. Rental Apartments in Canada
You can find various types of apartments in larger buildings or complexes. Apartments typically offer a kitchen, bathroom, and living space. However, you can also find studio apartments with a combined living and sleeping area.
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Studio apartments appeal to single people who don’t require a great deal of space and want to save on accommodation costs. Renters can also find one- or two-bedroom apartments that offer more space. Renting an apartment offers greater flexibility, which can be very important for newcomers. If you need to move to a new neighborhood or city, it’s easier to break a lease.
Renting an apartment is attractive to newcomers when first arriving in Canada. It’s more affordable than buying a home, and again offers more flexibility than homeownership.
Apartments seem similar to condos, but there are key differences between apartments and condos.
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2. Basement Apartments
Most basement apartments have a private entrance, kitchen, bathroom, living room, one or two bedrooms, and access to laundry.
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In Canada, you can often find these below-ground apartments for rent in detached or semi-detached homes. Homeowners often rent out basement space for short-term rentals or long-term rentals while they occupy the main levels of the house.
A benefit of basement apartments is they are usually less expensive than other types of housing. If you are on a tight budget, it’s a great option, especially if you want to live downtown rather than in the suburbs.
Vancouver, British Columbia.
3. Condominiums
Condominiums (or condos) are a form of ownership that can apply to almost all types of housing. While condominiums are generally large complexes, other types of properties, for example, townhouses, may also have a condo ownership model. You own the unit, or “condo”, but you do not own the land it is built on or any common space outside your unit.
Owning a condo is often more affordable than buying a detached home, and a top reason why condos appeal to buyers. In addition, you have access to on-site amenities such as a swimming pool, fitness room, party room, and guest suites.
With a condo, you pay monthly fees to maintain indoor and outdoor common areas shared by the condo owners, including parking areas, elevators, entrances, and recreational facilities. Many condos also have a concierge and provide 24-hour security. Monthly fees can vary and are usually based on the square footage of your unit. You pay condo fees in addition to your mortgage payments. If you rent a condo, these fees are usually included in your monthly rent.
This type of housing appeals to people who want a secure, residential setting without the required responsibilities of maintaining a home and yard.
Condos are becoming quite popular in Canada’s urban housing market because of the limited supply of single-family homes.
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4. Single-Detached Housing Type
A single-detached house stands alone and tends to be the most expensive home type due to the land costs. However, detached homes usually provide more space than most apartments or condos and will often have a backyard, parking, and patio space. Because detached homes offer more space and privacy, they appeal to growing families or multi-generational families. When you purchase a house in Canada, you own the home and the land it’s on.
While some newcomers arrive in Canada ready to buy a home, this involves paying the mortgage, property taxes, and utilities such as electricity, gas, and water. As a homeowner, you’re responsible for the care and maintenance of your property and must follow local bylaws. Bylaws are local municipal rules and regulations that vary across Canada. Examples of bylaws include residential property standards to ensure proper home maintenance.
As a homeowner, you can renovate the inside and outside of the house. But, you have to obey local bylaws and apply for building permits to renovate the structure of the home.
Upon deciding to purchase a home, it’s smart to save money for an emergency fund to deal with unexpected or costly repairs.
You can also rent a detached home. Renting a detached home can provide more space without spending time or money on necessary repairs. The homeowner will incur the home repair costs.
The cost to rent or buy a detached home is based on local real estate markets which vary across Canada, and the size of the home.
5. Semi-detached Housing Type
This is a home joined to another on one side, but not attached to any other dwelling or structure. Owners are only responsible for the care and upkeep of their side, just like a single-detached house. When you own a semi-detached home, you own your side of the property, including the land it is on.
Semi-detached houses appeal to people who want to own their own house as well as the land it is on. Semi-detached houses are usually less expensive than fully detached houses, although, like all real estate, this depends on the area.
If you’re buying this type of housing, it is usually more affordable than a single-detached home. However, it may offer less privacy. Whether you want to rent or buy a home, it’s always smart to find an experienced real estate agent to guide you through the process.
6. Townhouse
The Canadian housing market is also seeing a growing interest in townhouses. This housing type is a unit attached to other housing units in a row. In each unit, you share a wall on either side with the people beside you. Often, especially in cities, there may also be a smaller unit above each townhouse, so there could also be someone living above or below you. Townhouses (sometimes called row houses) are usually two or three levels tall and each level is called a storey.
With a townhouse, you may have a private backyard, or ground-level or roof-top patio. Townhouses appeal to people who want to be involved in maintaining their home and property.
This type of housing is becoming more popular, particularly among first-time homebuyers seeking more affordable options in the face of rising home prices.
7. Duplex or Triplex Housing Type
A duplex or triplex is a building that is divided into multiple units. Like semi-detached houses, each household has its separate entrance and is responsible for the care of the unit. Typically, you would buy the entire property and rent a unit to help offset your mortgage payments. Types of homes that are ‘duplexed’ or divided into two or more separate living units may be detached homes, semi-detached, or row houses.
8. Rooms for Rent
In Canada, it’s common for homeowners to rent out rooms within their homes and share accommodation. Homesharing provides and an affordable housing option for newcomers, and great living experience, and opportunity to make new friends.
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When considering your housing options in Canada, consider the different features that each option offers. With different types of housing, you can select the one that best meets your budget, lifestyle, and preferences.
