There are various types of real estate available to consider when you are in the market for a property. Each class offers unique benefits and drawbacks depending on your needs and budget. To help you make an informed decision, let's look at the different types of real estate and what sets them apart.
Single Family Home
A single-family home is precisely what it sounds like—a detached residential building that accommodates one family only. These homes can come with lawns, patios, and garages and often have multiple bedrooms and bathrooms. Single-family homes may include other structures, such as tool sheds or garden sheds.
Condominium
Like single-family homes, condominiums are detached residences but are owned by multiple people rather than just one family. The owner holds title to their unit, while all condominium association members jointly own common areas such as the lobby, pool, and fitness center. Condos are more affordable than single-family homes due to their shared ownership structure and smaller size.
Townhouse
Townhouses are similar to condos in that they typically feature multiple stories within a shared space—think row houses or townhouses within a gated community. However, unlike condos, townhouses share walls with neighboring units and usually have private yards or patios. Townhouses can be grand for families who want more space than a condo but still don't require the size and expense of a single-family home.
Duplexes/Triplexes/Quadplexes/Multi-Family Homes
Duplexes (two-unit buildings), triplexes (three-unit buildings), quadplexes (four-unit buildings), and multi-family homes (buildings with five or more units) provide an opportunity for investors looking to purchase rental properties with multiple tenants under one roof. These properties can be great investments because they offer potential income through rental payments while providing tax deductions on maintenance costs associated with owning multiple units in one building. 
Commercial Real Estate
Commercial real estate includes nonresidential property such as office buildings, warehouses, retail spaces, hospitality locations (hotels/motels), medical facilities, self-storage units, etc. Commercial real estate is more expensive than residential real estate. Still, it can also provide greater returns if appropriately managed due to its higher occupancy rate and longer lease terms than residential properties.
Special Use Properties
Special-use properties are designed outside traditional residential or commercial uses, such as schools, churches, daycare centers, etc. These types of properties can benefit investors looking for unique opportunities with higher returns than traditional investments due to their specialized nature.
Conclusion
Whether you're in the market for a primary residence or an investment property, there is certainly no shortage of options regarding different types of real estate available these days! From single-family homes to special-use properties, something out there will meet your needs & budget no matter your situation!
Understanding the differences between each type is essential so you can make an informed decision when selecting your ideal property - good luck!