When it comes to buying and owning your first home, what priorities come to mind? Maybe you have an open-concept living room, a spacious bedroom or an en-suite bathroom – basically, you’re looking for a home with a personality that matches your specific needs. Buying a family home can be one of the first steps towards that. But what exactly is a “single-family home”? Here’s how the experts define it so you know what you’re looking at when you see it listed.
What is a family home?
According to New York City realtor Allison Chiaramonte, Family houses are detached houses without common walls that are built to accommodate one owner or family. “Single-family homes have one large kitchen and don’t share walls, roofs or mechanicals with other homes,” she explains.
Although single-family home is an umbrella term, it can take many forms – bungalows and ranch-style homes are just a few examples of residential properties that can also be considered single-family homes. Whether you are a first-time home buyer or a seasoned real estate connoisseur, single-family homes are a great option for families and individuals. What makes single-family homes a special option for clients? And who exactly are they made for? Let’s dive in.
What are potential buyers looking for in a single family home?
According to Chiaramonte, buyers of single-family homes are looking for three things: space, privacy and flexibility. In metropolitan cities like New York, real estate is highly competitive, making spacious interior layouts like single-family homes a commodity. “These houses generally have significant outdoor space, which is rare in New York,” says Chiaramonte. “Furthermore, houses allow privacy that is missing in a gated or apartment building where you share not only common areas but also walls with your neighbors.”
In 2022, Statista declared the average American family home to be 2,299 square feet. As a result, lifestyle preferences, family size and financial situation play a role in one’s desire to move from an apartment to a family home.
What makes single-family homes unique?
Single-family homes provide individuals and families with a sense of autonomy that simply cannot be found in rental apartments. From subleasing and design changes to ownership structure and financing amounts, the strict rules that often govern rental housing can be another reason people turn to single-family homes when it’s time to buy, Chiaramonte explains.
For homeowners with children, a family home layout can offer more privacy than an apartment. And, to be clear, though – whatever the name, single-family homes can be a great option for individuals, couples and families.
Who are family houses intended for?
Anyone who wants to live in one! Single family homes are tracked across a wide range of demographics including age, occupation, family size, etc. “Although it is true that most people are looking for single-family homes because of their value on the PSF [per square foot] basis and to get more space, families of all sizes and shapes are looking for them,” says Chiaramonte.
In addition to looking for more space for a large family, other factors such as a home office, building a home gym or curating the outdoor space play a role in the decision to move to a family home. And it’s not always easy – what might be the perfect home for one family may be rejected by another. Another reason why single family homes aren’t just built for nuclear families!