6 Popular Types of Houses You Should Know

Apartment

Like condos and co-ops, apartments are units within bigger residential buildings. And some apartment complexes give you access to shared amenities, like laundry rooms, gyms, and even pools. But unlike the other options on our list, apartments are the kind of thing you rent—not buy.

Naturally, there are pros and cons to each option. “The pro of owning is you’re not paying somebody else’s rent,” Zeitlin says. “The con, obviously, is that owning requires more money upfront— you have to make a down payment.” 

And renting isn’t just a budget-friendlier option. “It also gives you more flexibility,” Zeitlin says. Since leases often last between 12–24 months, apartments are great if you don’t want to live somewhere for more than a few years. 

So if you need to save money and want the freedom to move around, renting an apartment might be ideal.

“In reality, all home types can be for all kinds of people,” Zeitlin says. “It’s a lifestyle choice at the end of the day.”