Did you know that there are four different types of homes available in San Francisco? I’ll explain each of them today.
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There are four different types of homes you can buy here in San Francisco. Let’s dive in.
The first is the regular house, or single-family residence. Here in San Francisco, we usually have attached housing, with a garage below and living space above. There are some detached homes as well.
The second is the condominium. You’ll see them dotting the skyline all over the city. Condominiums are large buildings with separate homes and parking way below. A skyscraper may have as many as 80 or 100 homes. When you live in a condominium, there is a Homeowners Association attached.
Cooperatives are more common on the East Coast than the West Coast.
The third type of home is called tenant in common, or TIC. Getting a building approved to be a condominium was a long process back in the day, so some people started buying these buildings as tenants in common. The plan is to buy the home as TIC, do a condo map on the property, and eventually turn it into a condo.
Finally, there’s the cooperative. These are pretty rare. Although cooperatives are more common on the East Coast, we do have a few here. In a cooperative, all of the owners are owners of the whole building. In a condo, you own your own living space, but in a co-op, you are one of the owners of the whole building. That means you have to be approved to be a member of the cooperative, so it’s a bit of a different process than buying a condo.
If you have any other questions about homes available in San Francisco or any video requests, please give me a call or send me an email. I would be happy to help you!