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property type

Finding the right property type for you

Buying a home in 2023 is bound to be an exciting and busy experience. Whether you’re a new home buyer, or you’re on your fifth home purchase, knowing your housing needs is critical. Part of that knowledge includes deciding which property type you’re hoping to buy! Different property types have different prices, locations, and sizes, all of which are big considerations for you. Below, we review the different housing options available, and what you need to consider before deciding which is right for you.

Detached house

Detached houses are likely the easiest property type to envision and understand. These stand-alone homes have their own property and yard, with no other buildings on the premises. The owner of a detached house is responsible for all of the house and property maintenance, as well as any costs that come with them. For example, if a pipe breaks or your roof starts leaking, the owner is in charge of arranging any repairs. Detached houses often come with the most responsibility in terms of property ownership.

In many cases, detached houses are the property type with the biggest amount of space. This isn’t always true, but you will often find a detached home has more square footage and yard space than other properties. On average, these property types are also the most expensive, but again, there are exceptions. On, you will find many three-bedroom houses in Halifax listed in the $550,000 range, but there are also listings as low as $300,000 and reaching $800,000 and beyond.

Duplex, triplex, and townhome

While these are all separate property types, duplexes, triplexes, and townhomes share many similarities. A duplex and a triplex are homes grouped together in twos or threes, with shared walls. A townhouse is no different, except they can be part of larger blocks of buildings. 

These property types can either be freehold, or part of a complex. Freehold means the owners are not part of any kind of building association, so there are no separate fees on top of owning the property. However, those homes that are part of a complex often include services like ground maintenance and snow removal, for which the owners pay an additional fee. There are pros and cons to both of these scenarios, depending on your maintenance and budget preferences. Speaking of budgets, these property types are often a bit less expensive than detached houses, because they are usually smaller and offer less privacy. Many of these properties fall within the $400,000 range.


Condos are, in most cases, the smallest property type. Since condo owners often live in a building surrounded by other neighbours, they are usually not quite as spacious. If you live in a condo building, you will also not have your own yard to maintain. Condo associations charge owners a fee for maintaining outdoor and common areas of the property, so you are just responsible for caring for your own unit. Condos can appeal to some buyers but not to others, depending on the buyer’s thoughts on maintenance duties and fees. 

Condos can have a big price range, with some listing for under $300,000, and others asking for more than $700,000.

Choosing the right property for you

So, how do you know as a buyer which property type is best for you? It comes down to a few factors, including price, size, and location. As we mentioned, detached houses tend to be the most expensive, while condos and townhomes are often a bit more affordable. However, it’s not just about money. The size of your property is likely important to you too! First-time buyers, or buyers looking to downsize, often gravitate toward condos. Townhomes offer a nice middle ground for young families, and detached houses can be great if you need a yard and multiple bedrooms. Finally, location comes into play. You are more likely to find condos closer to downtown areas, with easy access to amenities and transit. Townhomes and detached houses are likely a bit further away from busy city centres, since they require more space. Your buying decision may have to take into account your location and transit needs.

Contact a broker to get started!

No matter which property type you think is right for you, your buying journey will be much easier with a mortgage broker on your side. We have experience helping clients secure all kinds of properties, with lots of different budgets and housing requirements. A broker will also be your key to securing the best mortgage product and rate. We connect you with the right lenders and help ensure you can lock in the right deal. You can read more about the benefits of using a mortgage broker here. We are your top guide in today’s market!

If you have any questions about your mortgage, get in touch with us at Clinton Wilkins Mortgage Team! You can call us at (902) 482-2770 or contact us here.