Single Family Homes

Learn More About Single Family Homes

 A Single Family Home means a site-built, Single Family detached dwelling, indicating the house was built at its location distinguishes this type of home from modular and manufactured homes. These homes usually have no common walls, no shared property but is built on its own parcel of land, has its own private and direct access to a street, designated utilities that service the home, such as heating, electricity, water, or any other essential service that can be private or public which are not shared in any way with another residence and one legal kitchen, as adding a kitchen will alter the home’s zoning classification. These types of homes are zoned and built as the residence for one family, person, or household, whose owner has an undivided interest in the unit. Single Family Homes that are detached are the most common type of dwelling in the state of New Jersey as well as the United States with more than 60% of residences in the country being one-unit detached homes.

Single Family Home Options

There are a few options and categories that classify as Single Family homes which include: Condos, Townhomes, Co-ops, Multi-Family Homes, Manufactured and Mobile Homes, Modular Homes

A Condominium, or Condo, can be an affordable alternative if you’re in an area where Single Family Homes is financially unattainable and/or if you do not want to deal with the maintenance and upkeep that required to own a Single Family Home. Condos in a multistory buildings or developments are similar to rental apartments, and detached condos resemble the looks and feel of townhomes, but they are different in many ways. When you buy a condo, you have sole ownership of the walls and everything inside of the unit as well as joint ownership of outdoor and shared spaces which are managed by a homeowners association or HOA to whom you’ll pay a monthly HOA fee for all the maintenance, landscaping and other upkeep that goes on outside your unit. Townhomes might seem similar with condos and often are confused to be the same type of property, but they have their key differences, mainly in the sole ownership of your unit’s parcel of land and the possible responsible for maintaining it. Even if the townhome is attached to an adjoining unit. Co-ops, short for cooperative housing, is a type of homeownership rather than a type of home that allows you to be a a shareholder in the building or development in which the unit is in but removes the ownership rights to the individual unit. The amount of stock you have in the co-op and it’s worth will depend on the value of your individual unit and others in the building along with how the co-op’s finances are structured and managed. Many assume all co-ops are apartment buildings or condo complexes, however any type of living situation, including a development of Single Family Homes, can be offered within a co-op ownership structure.

Multi-Family Homes are those that have multiple units, two minimum, and share utilities or storage space like an attic or basement, parking, or simply aren’t completely divided. There are other classifications of Multi-Family Homes such as duplexes, which are properties that have two side-by-side units and have one owner or each unit can be owned by two separate owners and known as a “half a duplex” or “twin home”. These share a wall and a plot of land, but are actually considered two separate lots and sole ownership of Multi-Family Homes is most common for buyers looking to purchase the entire property and renting out the remaining unit. Sometimes, due to rezoning, it is also common to see older homes that have been split into Multi-Family Homes with each unit having its own entry and usually mailing address.

On June 15, 1976, the Department of Housing and Urban Development (HUD) instituted guidelines for the construction of Manufactured and Mobile Homes which refers to a movable home manufactured prior to HUD’s 1976 guidelines. A Manufactured Home is a movable home built after the “HUD code” implementation and must meet the building code and have a tag that proves it’s property type. Mobile or Manufactured Homes are placed on a foundation but are built on a permanent chassis and can be moved. Many of these types of homes like prefabricated homes, shipping container homes and tiny homes are becoming more popular in modern day real estate but are considered manufactured, however the HUD does not consider these to be manufactured homes and many lenders won’t either from the financing standpoint. Another type of a detached Single Family Home are Modular Homes which are built off-site from the ground up, then transported to the building location in pieces, joined and finished on-site. Though the construction of these homes is different from the way traditional Single Family Homes are built, modular homes have to follow the same local building codes as site-built homes.

Determining if a Single Family Home is For You

Single Family Homes have plenty of upsides that not only include paying off an asset that can be leveraged in the future in order to upsize or downsize, retirement, and utilized to build wealth. It also offers many lifestyle benefits such as privacy, space and the freedom to make as many changes as you want within the scope of zoning regulations of the neighborhood you live in as well as the option to improve the dwelling through renovations or through additions which will allow you to force appreciation of the property over time. However, purchasing a Single-Family Home isn’t for everyone and not ideal for buyers who feel they don’t want or aren’t going to be living in a specific area for longer than five to ten years, on average. If you also feel overwhelmed or can’t dedicate the time and money it takes to maintain this type of property it may not be the best option as the utility cost of owning a Single Family Home is usually higher as compared to the other property types. Additionally, Single Family Homes also tend to be more expensive from the purchase price persepective compared to some of the other other categories of real estate within its classification so compare all of your Single Family options based on your goals as well as the market and area you are buying as, like any market, residential real estate is prone to fluctuations.

New Listing - 6 hours online
$905,000
Single Family Home For Sale
Active
6
BEDS
4
TOTAL BATHS
4,200
SQFT
618 Riverside Dr #1
Cranford Twp., NJ 07016-1951
 
New Listing - 7 hours online
$2,695,000
Single Family Home For Sale
Active
5
BEDS
5
TOTAL BATHS
14 Windsor Rd
Summit City, NJ 07901
 
New Listing - 8 hours online
$395,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
57 Weequahic Ave
Newark City, NJ 07112-2401
 
New Listing - 9 hours online
$615,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
727 Willow St
Cranford Twp., NJ 07016-1858
 
New Listing - 10 hours online
$399,000
Single Family Home For Sale
Active
3
BEDS
2
TOTAL BATHS
5,000
SQFT
511 Richfield Ave
Kenilworth Boro, NJ 07033-1915
 
New Listing - 11 hours online
$565,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
633 Clinton Ave
Kenilworth Boro, NJ 07033-1665
 
New Listing - 12 hours online
$2,600,000
Single Family Home For Sale
Active
6
BEDS
7
TOTAL BATHS
32 Johnson Dr
Chatham Twp., NJ 07928-1167
 
New Listing - 13 hours online
$429,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
211 Lexington Ave
Linden City, NJ 07036-6332
 
New Listing - 13 hours online
$375,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
37 Paine Ave
Irvington Twp., NJ 07111-3947
 
New Listing - 15 hours online
$419,000
Single Family Home For Sale
Active
4
BEDS
2
TOTAL BATHS
58 Heald St
Carteret Boro, NJ 07008-2703
 
New Listing - 18 hours online
$950,000
Single Family Home For Sale
Active
6
BEDS
4
TOTAL BATHS
116 Old Stirling Rd
Warren Twp., NJ 07059-5830
 
New Listing - 18 hours online
$499,000
Single Family Home For Sale
Active
3
BEDS
2
TOTAL BATHS
224 Holly Dr
Roselle Boro, NJ 07203-1915
 
New Listing - 20 hours online
$499,900
Single Family Home For Sale
Coming Soon
4
BEDS
3
TOTAL BATHS
1,692
SQFT
319 Boulevard
Kenilworth, NJ 07033
 
New Listing - yesterday
$340,000
Single Family Home For Sale
Active
4
BEDS
2
TOTAL BATHS
118 Berkeley Ter
Plainfield City, NJ 07062-1502
 
New Listing - yesterday
$899,000
Single Family Home For Sale
Active
6
BEDS
3
TOTAL BATHS
35 Walton Ave
New Providence Boro, NJ 07974-1745
 
New Listing - yesterday
$590,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
128 Monmouth Rd
Elizabeth City, NJ 07208-1312
 
New Listing - yesterday
$380,000
Single Family Home For Sale
Active
3
BEDS
2
TOTAL BATHS
316 Amon Ter
Linden City, NJ 07036-6202
 
New Listing - yesterday
$849,900
Single Family Home For Sale
Active
5
BEDS
4
TOTAL BATHS
3,152
SQFT
262 Woodruff Ave
Woodbridge Twp., NJ 07001-1136
 
New Listing - yesterday
$439,000
Single Family Home For Sale
Active
3
BEDS
2
TOTAL BATHS
520 Garfield St
Linden City, NJ 07036-1406
Residential Subdivision
New Listing - yesterday
$424,000
Single Family Home For Sale
Active
3
BEDS
2
TOTAL BATHS
326 Russell Ave
Rahway City, NJ 07065-1623
Inman Heights Subdivision