A home is mainly a place of comfort and residence where a family or individual can rest and are able to restore personal property. It is often said that purchasing a home is the most stressful time of our lives and the same holds good for Canada, though the procedure is straightforward than most of the other countries.
Canada is regarded as one of the most beautiful countries in the world stretching from the Pacific Ocean to the Atlantic Ocean. It is a famous holiday destination with the tourists. Most people are taking Canada as an ideal place to invest in international real estate. Amongst the many reason, the foremost being that Canada contains some of the finest skiing resort, something that the investors just love. The huge oil boom and its increasing demand in the country is also a reason for higher prices of real estate. Lastly, the emigration to Canada especially from the UK is a simpler process than in Australia or the US.
We shall learn about the different kinds of ownership and the types of houses prevalent in Canada.
Kinds of Ownership
There are mainly three kinds of ownership prevalent in Canada, freehold, condominium and co-operatives.
Types of Houses
- Freehold. This is what most people would think of when they plan of owning a house, as you own the house and the property that the house is on. Though it is the costliest ownership of the three kinds, it allows the freedom the other types of ownerships don't. The owners of freehold are responsible for all the repairs, maintenance, or any problem arising in their house. They have the full freedom to do what they want.
- Condominium. These homes are cheaper than the freeholds, though the owners don't have the same freedom as the freeholds. The owner of a condo has to maintain the inside of the unit and pays fees to the condo association for things like garbage removal, lawn maintenance and other expenses. It is similar to living in flat or apartment only that instead of paying the rent to the landlord you own the unit and have to pay just the upkeep fees.
- Co-operatives. These homes are for those who wish to own a home but are not financially prepared for a condo or freehold mortgage. Co-operatives are groups of people who pool in their finances to own a collection of homes. The only problem arising in these homes is when you need to get the co-op boards approval in order to sell or modify the property.
1. Single Family Houses. These houses are designed for a single family occupancy and are detached one or two storey building. They cost more than the multi family units and have a basement as standard that can be developed.
2. Duplex and Fourplex Houses. These house are semi-detached kind of houses. The duplex is one or more storey, either one above the other or side by side, though they have a dividing common wall between. The fourplex are four apartments, normally two up and two down and can be rented or considered as a condo unit.
- Bungalows. These are single storey houses and can be small or large in structure though not including the optional basement. They are convenient for the owner as the whole living area is on a single storey as there are no stairs between the living areas or rooms, thus is ideal for those on wheelchairs. They offer more privacy than other houses and by planting shrubs and plants you can block the neighbors view.
- Ranch Bungalow. These bungalows are organized so that the public areas like the garage/ kitchen/ dining or other rooms, which are mainly on the front side, are on one side and the bedrooms are on the other side. Such kinds of house are smaller in size having just two bedrooms in the back.
3. Cottages. A cottage is a small and cozy dwelling mainly in the non-urban location.
4. Highrise Apartments. These are also called flats or multiple apartments in a single highrise building and are part of Condo projects. Most of the recent ones are expensive and luxurious with excellent amenities.
5. Town House.These are normally part of a Condo project and are similar to a terrace having many two storey houses in a row sharing a 'party' wall with its adjacent neighbor.
Your search for fine Canadian homes starts here.