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)