Residential building: Meaning, types and amenities

There are various types of residential buildings like apartments, condominiums, townhouses, and so on. Choosing the right residential building is a very important decision. It takes time and effort to find the perfect one for you. To make this process easier, we will discuss some of the things you need to consider before choosing a residential building.

 

What is a residential building?

To be considered a residential building, a structure must provide more than fifty per cent of its total floor space to living quarters for its occupants. In other terms, a residential building is one that offers sleeping accommodations, either with or without a kitchen, dining, or combined dining and cooking capabilities.

 

Different types of residential buildings

There are many different types of residential buildings. These include:

 

Types of residential buildings #1: Single-family homes

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Single-family houses are residences that are constructed on their own individual plots of land and do not share any walls with any other structures. Sometimes there will be a garage, either connected or separate. Single-family houses, in comparison to other housing options, often have more room, privacy, and outdoor space (in the form of front and rear yards). Since you aren’t required to worry about pleasing anybody else, you may build your house in whatever aesthetic you choose. There is a lot more upkeep for this type of residential building, and the expenditures are entirely on the homeowner. 

 

Types of residential buildings #2: Condominiums

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Condominiums are communities or complexes that consist of a collection of individual dwelling units. Condos often have shared walls with other units and are required to pay dues to homeowner’s organisations on a monthly or annual basis. These dues may be either monthly or yearly. They are common in densely populated urban areas that have a lot of shops, restaurants, and other enterprises.

The responsibility for care and maintenance that falls on the homeowner is quite little. In the event that your roof develops a leak, for instance, you may be able to divide the expense of repairing it with the other people who live in the building rather than paying for the complete replacement. In addition, some condominiums come equipped with luxuries and conveniences, such as fitness centres, social gathering spaces, swimming pools, and other facilities that are impossible to find in single-family homes or to fit into them.

You may be limited in the renovations you may make, as well as in your choice of pets and tenants, by your condo association’s rules. 

 

Types of residential buildings #3: Townhouse

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A townhouse is a kind of residential building that combines elements of both a single-family home and a condominium. Typically, they are multi-story buildings that share one or two walls and include either a small yard or a rooftop terrace. They are larger than a condominium but smaller than a single-family house in size. They are a hybrid between the two.

A townhouse, as opposed to a condo, often offers more privacy to its residents. Some properties have homeowners associations or joint maintenance agreements to help split the expenses of ongoing maintenance. They often come in at a lower price point than a single-family dwelling. Townhomes often do not have access to shared facilities such as a fitness centre or a swimming pool, and despite their smaller size, they do not provide the same level of seclusion as single-family houses.

 

Types of residential buildings #4: Co-op

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The ownership of a piece of real estate in a shared building via the use of cooperatives, which are more often referred to as “co-ops,” is a novel concept. In a condominium, you have ownership of the space that is contained inside your unit, but in a co-op, everyone shares ownership of the whole building. In most cases, an interview is required in order to join a community since doing so involves taking on a responsibility that is shared by all members.

Due to the fact that co-op owners commonly undertake maintenance as a community, their HOA membership fees are typically cheaper than those of other residents. Additionally, the cost is far lower than that of comparable condos. If one of your co-op neighbours stops making their mortgage payments, the bank might foreclose on the whole building, leaving you and them in a sticky financial situation.

 

Types of residential buildings #5: Multi-family home

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One and two-family homes are much more common than apartment buildings and other multi-unit residences. Most of them are converted into two or three-unit residences that were originally single-family dwellings. Duplexes and fourplexes are considered residential, whereas rowhouses and larger multifamily buildings are classified as commercial.

While some multi-family houses have individual entrances for each unit, others have a common entrance that is shared by all of the tenants. The units in the multi-family building are not considered condominiums since the individual units cannot be purchased independently. Instead, the whole building is owned by a single entity.

Many individuals who own multi-family houses do so in order to generate money, either by living in one of the units themselves while leasing out the others or by renting out all of the units. They’re great for families with many generations living together, since each member may have their own space in the same residential building.

 

See also: Godrej to develop a residential housing project in Gurgaon

 

Residential buildings: How to choose the location?

When looking for the appropriate residential building, it is essential to choose a site that is great in every way and includes all of the building’s features. It’s important that you think about the following.

Building purpose

Before settling on a house site or making a purchase, this is the single most important factor to think about. It is important that the location be selected with consideration given to the entire scope or objective of the structure, in addition to the necessary degree or level of seclusion.

 

Outstanding community

The location ought to be in an already-built or fast-expanding neighbourhood. It’s ideal to have neighbours that are similar to yourself in terms of income and education level and who are also pleasant and sociable if you want to feel at ease in your own home.

 

Facilities available

The location of the property needs to be in a neighbourhood that provides a variety of facilities that are detailed further down.

• Contributing to the community
• Utilities-related services
• Amenities
• Infrastructure for shopping
• Transportation modes

 

See also: National Building Code of India (NBC): All about the guidelines for residential buildings

 

Governing laws

It is preferable to choose a location in a zone where the local government has enacted laws limiting the rate of development, the size of front and side yards, the height of buildings, and similar factors.

 

Shape and size

The area of the plot needs to be planned in such a way that it satisfies the necessities of the owner, and ideally with possible extensions in the future, while taking into consideration the constraints imposed by the local authorities. The contours of the site shouldn’t be jagged or erratic in any way.

 

Terrain condition

This position needs to be situated on a raised area that is uniformly sloped to allow for efficient and effective drainage of precipitation from one extreme to the other.

 

Characteristics of soil

The soil at the site must be suitable for the intended building to be built there at a reasonable cost and with no worries. Constructions are more likely to be successful if the site is composed of rock, sand, or thick soil rather than light soil (60–120 cm) or black cotton soil.

 

Natural light and air

The location of the site should be chosen so that it does not restrict the flow of natural light and air.

 

Environmental condition

The location needs to be obtainable in a municipality that, by virtue of its natural attractiveness and environmental quality, fosters favourable living and working circumstances. The ecology is also impacted by the factories, kilns, and other industrial facilities that are located nearby.

 

• Legal and service aspects

Before making the decision to buy a piece of land, a suitable amount of thought should be put into the legal and economic aspects that determine the rights of ownership and the expenses associated with the land.

 

See also: How to save capital gains tax on sale of residential property?

 

What are the amenities offered in a residential building?

Different residential buildings offer different sets of amenities to the residents. Some of the common amenities offered by various residential buildings include:

• Water supply
• Power backup
• Elevator
• Parking
• Security 
• Clubhouse
• Proper sanitation
• Green spaces
• Parking lots with dedicated parking spots
• Recreation areas
• Gyms
• Swimming pools

 

Residential building: Benefits

Some of the major benefits of residential buildings include:

• Relatively less expensive than commercial buildings
• Less paperwork requirement makes them easy to buy 
• Tenants are much easier to find
• The operation is on a smaller scale, causing fewer complications

 

FAQs

What is included in a residential building?

Normal residential structures should make it easy to do things like sleeping, socialising, and cooking. One or more single-family dwellings, multiple-family dwellings, apartments, flats, and/or private garages must be included in the structure.

What is the most important thing to consider when buying a residential house?

An important consideration when selecting a home is its potential resale value. Both those who want to resell the property and those who intend to purchase the home with the goal of making it their permanent residence. It's important to think forward to the benefits you'll acquire from the home in the future when you make your final decisions.

What distinguishes residential from commercial buildings?

What does residential property entail?

Real estate that is designated particularly for dwelling for people or households may be considered residential property. This category of real estate can range from freestanding single-family homes to huge apartment complexes with many units.

Which is more lucrative, residential or commercial?

Gross income from commercial properties often increases with no effort on the owner's part. Investments in single-family homes often provide higher returns than those in commercial real estate since both the landlord and renter pay the interest on the mortgage.