• Condo Apartment

• Condo/Freehold Townhouse

• Semi-Detached

• Detached

• Re-Sale Home vs. New from Builder

• New Home from Builder
  

• Lowest purchase price, lowest taxes
• Virtually maintenance free — no snow shoveling or lawn mowing.
• Convenient for singles, childless couples and empty nesters.

• Sometimes a lower resale value, hardest to re-sell when there are a lot of choices and can be difficult to finance with low down payment.
• Can have large maintenance fees that can substantially increase carrying costs.  However, this is not anywhere near as common as when condominiums became popular in the lat 1980's.
• No private yard so you can't enjoy backyard activities such as barbecuing, gardening, etc.  Sometimes there are these common facilities.

• Lower purchase price and taxes than semi or detached and less maintenance.
• Better resale value than condo apartment.
• May have a backyard.

• Lower re-sale value than semi or detached and harder to re-sell
• Freehold townhouses may present a problem organizing common lawn care as no formal community organization exists.
• Share common walls and close to neighbours

• Most privacy at least cost — great for first-time buyer.
• Good resale value and easy re-sell.
• Easy to finance at best rates.
• Usually has larger yard than townhouse, more backyard activities possible.

• Share a common wall with neighbours.
• Higher price per square foot of living space than a townhouse in a similar location.

• Best resale value and you own the land, the main appreciating asset.
• Most privacy, least noise from neighbours because there are no common walls.
• Most desirable type of home with greatest perceived value.
• Lower priced detached homes tend to sell quickly because of the combination of prestige and affordability.

• Highest purchase price and property taxes.
• All that maintenance is yours.

Re-Sale Home

Pros

• Lower prices because of some wear and tear.
• You get the benefit of upgrades (finished basement, pool, etc.) at a depreciated price.
• Landscaping is likely already in place.
• Established neighbourhood, current neighbours, etc., are known entities although they can change.

• Home has been used by others.
• No warranty for repairs required by law, although it can be made a condition of purchase.
• If existing décor is not to your liking, it can be expensive and time consuming to change.

• You are the first occupant and the house is yours to decorate as you wish.
• Purchase price includes colours, design features, etc. that you select, usually with negotiable upgrades.
• Protection from construction deficiencies is usually required by Provincial Law.

• There is often an extended period of time without lawns or paved driveways, and with dust from unsodded areas and construction traffic.
• There can be problems with permits or trade strikes that prevent timely completion and occupancy.
• Defects in construction may not be addressed promptly.
• Some closing costs, like GST, apply to new homes that do not exist with resales.