What Are the Different Types of Homes? | Bee Mortgage App

April 4, 2023

What Are the Different Types of Homes? | Bee Mortgage App

What Are the Different Types of Homes for Sale?

Achieving the iconic American dream of owning a home is an exciting experience and one that deserves careful consideration. When it comes to selecting the perfect style for your household, there is an array of options that you can shop for online at your convenience. In Florida, many popular designs have been around for centuries but upgrades and the latest technology can update a timeless look for living in the twenty-first century. 

When it comes to turning a house into a home, the process takes time and effort. But, choosing the right style of home is an important first step as it sets the tone for how you are planning to live life. Knowing more about Florida’s different home types can help you make an informed decision as to what will work best for you and your family. Each style offers something unique and can provide the inspiration to help you create the home of your dreams. 

Florida’s Eclectic Mix of Home Styles

Having an idea of what you’re looking for prior to starting the home buying process will make it easier, faster, and much less stressful. Plus, no matter which style of home you choose, you will be one step closer to achieving your American dream. With so many options available, there is sure to be a style that fits your lifestyle perfectly. Keep in mind however, the kind of home you buy can possibly impact the interest rate on the mortgage, so it's important to go with the lowest rate lender you can find. Home types such as:

1) Single Family Detached: 

This is your most popular home; what people would call a regular house with a garage. Detached means it does not share any walls with another home or structure. It is its own standalone home. 

Single family detached homes come in many architectural styles, including: 

Cottages or Bungalows – Craftsman style homes focus on the use of natural materials, such as wood and stone. Many original craftsman houses have been refurbished with modern convenience. Florida town centers often feature villa-style communities for 55+ senior living. 

Ranch Style Homes – Ranch style homes built on slabs are commonly found in inland communities. Although more expensive per-square-foot to build than a two-story home, a well-insulated ranch style home with energy-efficient windows can result in lower heating and cooling costs.

Cracker Style Homes Florida cracker style homes are a vernacular architecture typified by a wood-frame house. Widespread in the 19th century, the simplicity of the cracker style is still popular with homebuyers today. Single and multi-story houses often sit on farm or ranch property.

Mediterranean or Caribbean Style Homes – From conch style wooden gables to stucco walls, Mediterranean and Caribbean style homes reflect the vibrant mixture of cultural influences in many oceanside communities. Lots of doors and windows help to bring the beauty of the tropics indoors.

Victorian Style Homes – Victorian-style homes became popular during the reign of Queen and are still characterized by Gothic influences. These timeless designs feature intricate details, such as spindles, bay windows, ornate trim, and often modernized with updated bathrooms and kitchens.

Coastal Contemporary Homes – Characterized by high ceilings, open floor plans, and lots of glass, this is a popular style of architecture in the Sunshine State. Minimalistic designs create an oasis of light for its living spaces. Building costs are often more expensive but for good reasons.

Colonial Style Homes – Characterized by dormers, gables, symmetrical shapes, and clapboard siding, these classic designs feature American style brick colonial, French colonial, an eclectic mix of West Indies colonial, and Florida’s own coastal colonial styles.

2) Single Family Attached:

These are homes that are connected with a shared wall, and while they might seem similar to a townhome, or even some condominiums, they are a specific type of home construction appraisers designate the property as. 

These types of homes can come in all shapes, sizes, and styles mentioned above, and buyers should carefully consider the other owner before signing a contract to buy the home. If there’s no homeowners association governing the home, any maintenance and up-keep cost of the shared spaces will have to be agreed upon with the other homeowner. 

3) Townhomes or Townhouses:

Townhomes are very popular in Florida, and a wonderful way to invest in the real estate market.

Duplex and Triplex Homes – Always in high demand for their lower maintenance and laid back lifestyle, townhomes are very much a part of Florida’s relaxed lifestyle. Purchasing a townhome or townhouse can also be a great way to increase income to help grow a real estate portfolio. With the proper due diligence, investing in property that have attached walls and spaces can actually lower the homebuyer’s monthly expenses. 

It is important to note that any real estate investment has inherent risks involved, so it is a good idea to find an experienced real estate professional to help you shop. They can better explain the risks and benefits associated with investing in single family attached housing.

4) Condos or Condominiums:

Condos like these are very Florida.

Low-Rise Condominiums – Low-rise multi family condominiums are popular in most areas of the Sunshine State and are generally three stories or fewer. Some condominiums have a built-in garage and provide common areas with lots of amenities, such as a workout facility, swimming pool, dog park, etc.

Mid-Rise Condominiums – Mid-rise multifamily condominiums are a popular option for many homebuyers looking for sustainable places to live in beach communities or downtown metro areas. Residents often have more significant amenities like nearby shopping and restaurants.

High-Rise Luxury Condominiums and Apartment Homes – High-rise luxury condo living has become increasingly popular from Florida’s First Coast to the Gold Coast, Miami and beyond. These mixed use properties often have retail stores and restaurants on the first floor with luxury residential units just a convenient elevator ride away.

5) Multifamily or Multi-unit Houses:

Multi-units = multiple streams of monthly income for property investors. 

Multi-unit properties – These are the most popular types for real estate investors looking to cash flow a property well. These multi-unit homes often come with up to 6 individual units, each with their own unit #, and a paying renter. 

Buyers can also take advantage of specialty loans, such as DSCR and other loans, that let the buyer use rental income to qualify for the mortgage. DSCR loans allow buyers to finance up to 20 properties with loan amounts up to $2M.

6) Movable Dwellings:

Modular, or manufactured homes, are becoming more and more popular due to the advances in consturction quality and home design. 

Mobile, Modular or Manufactured Homes – A manufactured home can provide similar square footage to a stick-built home but at a significantly lower cost per square foot. Lenders typically require 5% to 10% down and may require collateral depending on your financial qualifications. 

Tiny Houses – Whether a tiny house on wheels is lawful in Florida depends on both state and local zoning. Florida is a relatively friendly state when it comes to the legality of constructing a tiny home as well as renovating an older home that has a small footprint. 

Floating Homes – Not every homebuyer is looking to live on the water but luxury floating homes are usually cheaper than a house built on land. As a non-traditional structure, houseboat owners do not pay property taxes but do pay monthly fees and expenses wherever the floating home is tethered.

If you think the online home loan process is best for you, remember that not all online mortgage brokers are equal. So, before you start shopping for the perfect house to turn into your dream home, download the Bee Mortgage App and follow our tips for getting pre-approved for a home loan. That way you can quickly compare quotes to secure a competitive mortgage online. 

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