2.01 Housing Options

Sherry Brooks

David W. Butler

April 28, 2009

Location

• Region: Specific place in the world, country, state, county that YOU live in. Many reasons for choosing this place:

• Climate, Family, Job, etc

• Community: regions that are subdivided in towns, cities, rural areas

• Ex: Charlotte—Matthews---Meck. County

Types of Housing

Multifamily Housing:

• Structures that provide housing for more than one family.

• These structures always have a common wall

Penthouse

• Suites located at top of a high-rise apartment building. Usually found in LARGE cities

Garden Apartment

• Usually a one-story unit with landscaped grounds. Usually has amenities such as pool, club house, tennis, laundry facilities. Can be a large or small complex

Efficiency Apartment

• Has ONE main room that serves as living room and bedroom

• Small kitchen and bath• 483 square feet in NYC

Upper East Side$2050/month 2 Rooms

Cooperative

• Refers to ownership in which people buy SHARES of stock in a building and this entitles them to “buy” the unit in which they live.

• Although no ones “owns” their specific unit, they own stock in the whole property.

• Tenants vote to allow people into the building and vote on issues pertaining to the building

• 115 E Park Ave

Condominiums

• Ownership in which the buyer owns individual space and interest in the common areas.

• Must follow the HOA (Homeowners Association) in regards to the exterior of unit, all yards, and other common areas.

• Can make NO changes unless approved by HOA

• Fox Ridge

Attached Housing

• Designed for one household but shares a common wall

• Duplex: 2 units

• Triplex: 3 units

• Quadplex: 4 units

Townhouse

• Attached housing with at least 2 floors

Custom Built

• A home that is designed by an architect and built by a contractor to meet the needs of an individual family.

• With a custom built home, the home is unique and there are seldom two that are alike.

• These homes are more costly than other homes and often takes longer to build.

Owner Built

• The building of this home is supervised by the owner.

• Owner built homes require knowledge and lots of personal time and energy.

• The owner does not necessarily do their own work, but hires the individual team of workers.

Factory Built

• Factory-built homes are constructed in parts or are fully finished in a plant/factory.

• These usually cost less and take less time to construct.

Modular Homes

• Modular homes are built in boxes/rooms and shipped to the building site.

• The “boxes” are then assembled onto a foundation to form a house.

Manufactured Homes

• These homes are completely built in a factory or plant and pulled to the lot on wheels.

• The wheels may be removed and the home placed on a foundation to meet local codes.

Stick Built

• A “stick-built” home constructed on the lot using some factory-built components such as precut items and kits (roofs and walls framing)