Dec 05 2008
What type of property is best for you?
When considering which type of property to purchase in Newport Beach, it may prove useful to have a greater understanding of the types of property available, such as condominiums, townhomes and single family homes. Below are some basic definitions of these types of homes for sale in Newport Beach.
- Newport Beach Condominiums – Condos in Orange County are generally one unit within a larger building. The ownership of common areas (such as the interior and exterior walls, roof, swimming pools, gardens, lobby, etc.) is shared by all owners of units within the building. Assessments are paid monthly in order to keep up with the maintenance of these areas. In Orange County you will generally find condos in Costa Mesa and many newer condos in Irvine. One thing to understand about Newport Beach condos, though, is that what is typically known as a condo elsewhere (within high rise buildings, for instance), is not always the case here. In fact, many people consider their home a condo with only one shared wall.
- Newport Beach Townhomes – This type of property will usually have shared walls with connecting dwellings, and be built in a row. They may share amenities such as a pool or gardens and will often share the cost of maintenance for things such as the roof, or driveways. You’ll find some lovely Corona del Mar townhomes on the market with lovely ocean and city lights views.
- Newport Beach Single Family Homes – This term is used to define a detached property, upon its own lot, which shares nothing with surrounding properties. Most often, the owner is responsible for all maintenance and upkeep of the property, and can potentially improve and extend the structure. Find single family homes in Newport Beach as well as throughout all other Orange County communities.
These three terms describe the three main forms of home ownership within the area of Newport Beach. Depending upon your lifestyle and financial situation, one may be more beneficial for you than the others, it is suggested you contact a professional Orange County REALTOR® for further information.