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 – A 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.

Residential Property Appraisals

We provide free residential property appraisals for both of the building and land. Please complete the following information and we will be in contact with you shortly.

? Call today at ☎ 514-654-8890 or e-mail: [email protected] for an evaluation of your home, to receive help in finding the property of your dreams, or advice on investing in real estate.