Taking the step into homeownership is exciting, and here at Colorado Home Grant, we are committed to making that dream a reality. We offer homebuying assistance for all counties to help you secure the financing, but the next crucial step is choosing the right type of property. From bustling city centers to quiet mountain towns, Colorado offers diverse housing styles!
Exploring Different Types of Homes for First-Time Buyers
Single-Family Detached Homes
This is the classic image of homeownership: a standalone structure on its own land. We often find that these types of homes offer the most privacy and freedom for renovations or landscaping. Although a single-family home typically requires a larger budget and maintenance commitment, our first-time homebuyer loan assistance can help bridge that financial gap.
Condominiums: Low-Maintenance Community Living
Condos are individual units within a larger building, perfect for buyers prioritizing location and low-maintenance living. We find this option popular in dense areas like Denver or parts of Larimer County like Fort Collins. Homeowners’ Association (HOA) fees cover exterior maintenance and shared amenities, reducing your personal chore list significantly. A condo offers a more predictable monthly expense with less worry about major unexpected repairs.
Townhomes: The Middle Ground
Townhomes provide a blend of space and efficiency; they are typically two or three-story homes that share one or two walls with neighbors, but you own the land beneath them. This option is a great compromise, offering more living space than most condos and a private entrance, often with a small yard. Townhomes usually come with lower HOA fees than condos, covering only common areas and exterior structure elements.
Unique Housing: Duplexes & Multi-Family
Some first-time buyers find great success with a duplex or other multi-family dwelling, where they live in one unit and rent out the others. We recognize this is a powerful strategy to offset mortgage costs, but it requires a landlord mindset. Our homebuying assistance for all Colorado counties may be able to assist with financing these properties as well.
No matter which style of home is the best fit for you, Colorado Home Grant is here to empower your purchase. Contact us today to discuss your financing options!