Types of Housing

There are various types of properties you can buy in Canada. In each case, you are responsible for making the mortgage payments as well as paying the bills for your specific unit. Below is a list of several housing types.

Condominiums While condominiums are generally found in apartment buildings, 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. You are charged monthly "condo fees" to maintain indoor and outdoor common areas shared by the condo owners, including parking areas, elevators, carpets, front entrances, and any recreation facilities. These monthly fees can vary widely and are in addition to your mortgage payments.

Detached House This is a house that stands on its own. It is often referred to as a 'detached' home and tends to be the most expensive type of home to purchase due to the land costs. You own both the house and the land it is on. When your house needs repair or maintenance, you must pay for it yourself. Single houses appeal to a wide array of people, including families with children and generally provide more space and privacy than other unit types.

Townhouse A townhouse is a unit in a row of other units that look like houses that attached to each other. In each unit, you share a wall on either side with the people who live beside you. Often, especially in cities, there may also be a smaller unit above each townhouse, so there could also be someone living above you or below you. Townhouses (sometimes called row houses) are usually two or three levels tall (each level is called a ‘storey’).

Semi-detached House This is a home joined to another on one side. Owners are only responsible for the care and maintenance of their own side, just like a detached house. Owners of semi-detached homes own their side of the property, including the land it is on, and are responsible for its care and maintenance, according to local bylaws. Semi-detached houses appeal to people who want to own their own house as well as the land it is on.