The term “townhouse” has become a bit of a catch-all term to refer to any home that shares a building with other units, particularly if there are no other units above or below, but the true explanation of a townhouse is simple. A townhouse is a home that is attached to adjacent houses. Townhouses, also sometimes called row houses, can be built as single or multi-storied structures.
A flat is an apartment and may have a number of rooms for exclusive use of the person living there. A “flat” can also be one unit in a building comprising several contiguous housing units, as long as it’s one or two stories (a “block of flats”).
Cluster home is an arrangement where numerous homes are located in a single area with boundaries and fences also. Cluster homes are created in a way that many houses are centred in one single unit which makes space for several owners at the same time.
SMALLHOLDINGS (Size dependant)
UNACCEPTABLE TYPES OF PROPERTIES FOR RESIDENTIAL LENDING
- Share Block Scheme
- Unconventional Construction
- Timeshare Unit
- Hotel Suites
- Prefabricated / Movable Structures