popular home types in Middle Tennessee

Your guide to the popular home types in Middle Tennessee

Popular home types

Are you looking at different types of homes to decide which option is best for you and your family? In the current real estate market, there are plenty of options to consider when it comes to your next house before purchasing.

When researching home loans and financing options, you must know the types of homes available and which options are most suited to your familys needs.

This article will help you start by examining the various home types, their pros and cons, and what you should know about before approaching a mortgage lender. Lets dive in!

Single-Family Homes

As the most popular home type in the United States, comprising 82 million of the total 129 million occupied housing units in the United States, theres no doubt that single-family homes are a wise choice for many homeowners.

A single-family home isnt connected to other properties, meaning families dont have to share walls or spaces with other properties like you would in an apartment. Single-family homes have unique pros and cons to consider before purchasing.

Among the pros of a single-family home include:

  • More privacy and independence than other housing options
  • Greater customization options, which allow you to modify and renovate your home to your liking
  • In most cases, more space than most other housing options
  • Several mortgage lender and loan options, including conventional home loans

However, this housing option has some cons:

  • Single-family homes are often limited to rural and suburban areas.
  • These homes are generally higher in costs, including your initial purchase, maintenance/repairs, modifications, and property taxes.
  • Managing a single-family home is time-consuming and stressful, and the responsibility for frequent maintenance and upkeep can get overwhelming.


Multi-Family Homes

A multi-family home is a property with multiple separate housing units in a single building. Units are divided and can be rented or owned by residents. Some examples of multi-family homes include duplexes, small apartment buildings, and triplexes.

Like other types of homes, multi-family properties have unique pros and cons. The pros to consider if youre interested in a multi-family home include:

  • Usually far more affordable than single-family homes, making them a cost-effective option and especially helpful for first-time homebuyers.
  • Involve less risk for residents and investors–multiple units mean risks are diversified
  • Shared maintenance costs, lowering the burden of independently paying for an entire property
  • Rental income offsets mortgage costs for a sustainable income stream, and residents can prorate mortgage interest payments

However, there are some cons of multi-family homes:

  • Privacy is significantly reduced compared to single-family homes, and noise disturbances are far more common.
  • These properties are typically subject to stricter regulations and rules for tenancy than a single-family home, meaning youll have fewer customization options and additional housing laws to follow.
  • Multi-family homes often require shared amenity usage, which can cause scheduling issues and interpersonal problems between families.


New Construction

New construction homes are properties where you are the first person to reside there after its been built. These homes are unique, and a new construction property can happen in several ways.

For example, you can purchase a plot of land and plan the building of your new home or purchase a home thats newly finished and never lived in before.

New construction homes are an exciting option for many homeowners and come with several pros, including the following:

  • Lower maintenance costs–because everything in the home is brand new, you wont have to worry about outdated components and systems that require immediate repairs.
  • Higher resale value compared to older properties
  • Stunning, modern design features for a contemporary living experience
  • Option for construction home loans to build a residential property

There are also cons to consider if youre interested in a new construction property:

  • Higher prices compared to existing properties
  • Potential construction issues–because youre the first person to occupy the property, youre also the first person to test its build quality.
  • Completion delays depending on when you purchase the home during construction



Condominiums (condos) are properties where individual units are split into a larger building or complex. With condos, you own your unit like a home, while common areas, the land, and facilities are managed and owned by a separate association. Condos are similar to apartments in several ways in terms of how the properties are styled and split–however, condos come with additional control over your living situation.

The pros of condos as a popular home type include the following:

  • Some of the advantages of homeownership, allowing you to control your property in a way impossible with rented units and other shared properties
  • More affordable than other homes, with lower maintenance and utility prices
  • High levels of security, often include features like gated entrances, security personnel, and controlled access.
  • Various condo mortgage options are available, ranging from conventional home loans to VA  home loans

Among the noteworthy cons of condos are the following:

  • More homeowners association (HOA) restrictions and fees–you must pay a monthly HOA fee to cover maintenance and amenities, which can vary significantly.
  • Greater responsibility on you to maintain and upkeep the property, including costs for any necessary repairs
  • Less privacy with a condo than you would get from a single-family home



Townhomes are a type of semi-detached home. These homes involve one multi-story property attached to similar properties by shared walls. These homes have less horizontal space and might include shared amenities for residents.

There are many pros to choosing a townhome, including the following:

  • Affordable prices compared to other home types
  • Flexible locations–townhomes can be found in suburban and urban areas
  • Less maintenance than you would require for a single-family home
  • Straightforward process to get a home loan or mortgage, similar to single-family home mortgages

However, there are cons to consider before investing in a townhome:

  • More HOA rules and restrictions than other home types
  • Shared walls, meaning less privacy and more noise disturbances
  • Potential for a lower resale value, as the value is determined by the propertys overall condition


Tiny House/Rental

The tiny house movement has flourished in recent years, especially in parts of Middle Tennessee and mountain areas. This type of home is compact and often mobile, encouraging a minimalist lifestyle. There are many unique benefits and pros to tiny house rentals, including:

  • Lower operating costs than other types of homes
  • Enhanced mobility for people who like to move and travel frequently
  • Ability to practice sustainable living and remain eco-friendly

There are also notable cons to tiny house rentals:

  • Significant space limitations, making them less than ideal for large families
  • Fewer amenities than in other types of homes
  • High tenant turnovers, as the novelty of tiny living spaces can wear off quickly
  • Fewer mortgage and home financing options–many tiny homeowners turn to personal loans to finance their property


Navigate the Mortgage Process With First Vision Mortgage

No matter the types of home that youre most drawn to, there are a mix of possibilities for mortgages and home loans available to you. Understanding the mortgage process is possible with a home and mortgage lender service like First Vision Mortgage.

First Vision Mortgage understands the mortgage process and will help you through the proper steps to secure home loans and sustain your property.

Contact First Vision Mortgage today to get started on the home loan process.