Wednesday, November 24, 2010

Housing styles and types, explained

The President's Pen column was prepared by the Ottawa Real Estate Board and first appeared in the 2010-11-18 issue of the EMC community newspapers.

When you’re working with a member of the Ottawa Real Estate Board (OREB) to purchase a home, he or she will create an automated search of properties available for sale to find homes that meet your criteria, such as price, location and number of bedrooms. But there are other search criteria that help your real estate professional narrow down the type of home you are hoping to buy. Some of those terms are common sense while others may be less easy to figure out. Here is a glossary of the terms used for housing styles and types by OREB:

Residential - a form of property ownership in which the homeowner holds freehold title to a dwelling unit and block of land; often referred to as freehold.

Condominium - a form of property ownership in which the homeowner holds title to an individual dwelling unit, an undivided interest in common areas of a multi-unit project, and sometimes the exclusive use of certain limited common areas.

Detached: A single dwelling unit standing alone, separately titled.

Row Unit: One dwelling unit of a group of three or more attached, self-contained dwelling units of similar design and size, each unit separately titled. These are often referred to as townhomes.

Semi-Detached: One of a pair of self-contained dwelling units, attached by a common wall but detached from other buildings; separately titled.

Apartment: One unit of a complex of self-contained units lying within a low, mid or high rise building, offering common areas such as hallways, parking lots, stairwells, etc.

Stacked: One unit in a complex containing individual residences stacked on top of each other like apartments (often multi-level), contained in a single structure resembling traditional row houses. Each unit has a separate entrance and is separately titled.

One Level: An apartment with all of its rooms on one level.

1 ½ Storey: a single family dwelling with 2 levels above grade. The upper level is full height at the centre peak but dramatically slopes to shorter height along the outer walls.

2 Storey: A single family dwelling with 2 levels above grade.

3 Storey: A single family dwelling with 3 levels above grade.

Bungalow: A single family dwelling with 1 level above grade.

Double Side by Side: A building which consists of two dwelling units beside one another; under single ownership (one legal description); looks like a semi-detached.

Duplex-Up/Down: A building which consists of two dwelling units, one above the other; under single ownership.

Hi-Ranch: A single family dwelling with 1 level above grade and the basement level elevated partially above grade. Entry is located halfway between basement level and main level.

Split Level: A single family dwelling with multiple levels above grade, separated by small flights of stairs.

Obviously, some homes are more easily categorized than others; members of OREB try very hard to classify a home correctly when listing it on the MLS® System. Your real estate professional can help you determine which type and style of home might best suit your family’s needs. Who knows - you might find yourself looking at a style of home you’d never considered before!

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