Knowing which type of housing is best for you is an important decision. You want to make sure that when you buy a house, it’s an informed decision. Let’s face it: for some home buyers, they might only have the opportunity to buy one or two houses in their lifetime! Therefore, if it’s an investment property, you’ve got to be even more knowledgeable.

Types of Housing in Canada

Since purchasing property is a milestone decision, you need to know your options and which type of housing fits your needs and budget. You should also know exactly what you’re looking for.


Detached houses with property surrounding them

If you want a house that stands on its own and you’re willing to pay a higher price tag because of land cost, then a detached house is for you. However, it’s more expensive because you have the right to own the land and the physical structure of the house.

Since you own the house and the property surrounding it based on its land title, you have the option to renovate it to your heart’s desire. As long as it’s within the by-laws and regulations of your locality, you can undergo whatever mode of renovation you’d want.

Detached houses are a type of housing that can provide more space and are ideal for big families and those who love accommodating guests. Since you own everything, you also pay for everything. From bills and maintenance repairs to utilities, everything rests on you as the owner of your home.

Semi-detached and townhouses that share a wall with one another

In terms of pricing, semi-detached houses cost lower as compared to detached houses. These are two houses located on the same property, joined together with a wall that separates the two houses. You almost have the same benefits as a detached house but unlike a detached house, you cannot sell a semi-detached property. You’re also limited in terms of renovation. If you’re prepared to own a “shared” house for a lesser cost, you might want to consider this.


Condominiums became popular because of their accessibility to major business districts within and around the city. A condo is an apartment within a building that provides a relatively small space for living. Instead of owning land or common space, you can own a unit. Condos have a lot of amenities shared by unit owners such as pools, gyms and designer lounges for guests.

A condo is an ideal type of housing for homeowners or property investors who do not want to manage their property and want to do away with huge maintenance and overhead expenses. If you have a lifestyle that’s always on the go, then this can also be a lucrative housing type for you.

Convenience and accessibility within the city are the advantages of condominiums. This is why it suddenly became popular among millennials and younger generations.

Multiple Units: Duplex and Triplex

These types of housing are popular for owners who want to make a profit or cut their mortgages and save cash. The idea is to occupy one of the houses and look for families who are willing to rent the others for a fair amount of money. Smart, isn’t it?

The house is divided into two or more areas, in order to maximize the space for living conditions. Occupants sacrifice a smaller living space; in fact, there are cases where duplexes are situated on top of each other. A more common design is to see them side by side.

Opt for a multiple-unit property if you’re living alone or have a small family. If you also want the financial viability of owning an investment property, less the financial headache brought about by larger, more expensive homes, then go for a duplex or triplex.

Financing Any Type of Housing Through A Mortgage

You need to keep yourself informed and remain guided on the steps that are needed prior to buying a home or investment property. A mortgage is one of the ways you can opt for, in your quest of purchasing your very own property.

There are four types of mortgage loans that you can choose from in Canada. The conventional mortgage is what’s most opted for. As for those who’re risk-takers and more adventurous investors, they may opt for variable-rate mortgages.

One must be wary about mortgage fraud. In order to avoid this and secure the best mortgage interest rate, it’s essential to get in touch with one of our mortgage brokers, who can help you purchase a property or create an investment plan that best suits your investment capacity. Other services include mortgage renewals and refinancing, as well as estate planning and insurance.

Types of Housing in Canada, Ajax, Pickering, Durham Region, GTA, Ontario

Daisy Raouph, CLU, CHS, specializes in mortgage financing solutions and financial services. A Mortgage Broker and Financial Security Advisor with over 30 years of experience in financial services. Contact us today to review your mortgage financing options. We can help!