Residential - Realty in Canada


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RESIDENTIAL: Bungalow, Townhouse, Cottage, Condo, Chalet, Duplex, Triplex and Fourplex

The home-buying process can seem incredibly stressful, regardless of whether you’re a first-timer or a seasoned veteran. Fortunately, you can find a real estate broker who’s willing to do a lot of the grunt work for you. Excellence Brokers took the time to create a list of some of the best real estate practices in the industry.

Residential building

A residential building is a multi-residential space contained in a single structure where dwellers may rent or own their residences.

A residential building has basically:

  • A living room/space
  • A sleeping room(bedroom)/space
  • Conveniences (as in toilet and bath)
  • Cooking room/area (kitchen)

All of these functions can either be in shared rooms or spaces or have exclusive rooms per function. This depends on the type of residential building it is.

  • Bungalow – low house having only one storey or, in some cases, upper rooms set in the roof, typically with dormer windows.

Some types of residential buildings include:

Townhouse – A townhouse, townhome, or town house as used in North America, Asia, Australia, South Africa and parts of Europe, is a type of terraced housing. A modern townhouse is often one with a small footprint on multiple floors.

Condo in Canada and USA

Condo – A condo or condominium is a single building or a community of buildings with separate units owned by individual residents. Condos can vary in size or style, ranging from individual homes to high-rises.  Condo means you own everything inside the walls of your unit but each individual unit has a separate owner and the common areas are jointly owned. The title under which an apartment in such a building is owned.

  • Declaration of co-ownership in Quebec –declaration is like the constitution of a condo.
    • The rules for the operation and the organization of the co-ownership (private and common portions, allocation of expenses, etc.)
    • The rights and obligations of the co-owners and of the syndicate.
  • Condos and USA are usually managed by a Homeowners’ Association (HOA). Although they are usually part of a larger high-rise building, “detached condominiums” also exist.
  • Coop – A coop (cooperative) means you own shares in the corporation that collectively owns the entire building or group of buildings.

Duplex – Duplex, triplex, and fourplex – A residential building unit on two or three floors with connected by stair often with one main entrance on the ground floor.

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