It's like the real estate agents' mantra: location, location, location. You've certainly heard the phrase enough and may wonder what possesses agents to say it three times. Or you might think it pertains to three different types of locations -- perhaps an excellent location, a mediocre location and a lousy location. We'll put your mind at ease. It means identical homes can increase or decrease in value due to location.

It's important to choose the highest quality neighborhood when buying a house. Why? It's not only good for you and your family, but you will realize the highest increase of appreciation. In other words, your property value will rise faster in a better neighborhood. Why does appreciation matter? Because when you later sell or rent out your house, you'll command the highest prices. By attracting buyers and renters who are willing to pay more, you'll realize more profitability.

Generally, the available types of Homes are: Apartment, Condominium, Townhouse and (Detached) Home. The major differences between these types of Homes are Ownership and Responsibility. For Rentals, the Owner has the Ownership and Responsibility of the Rental property (rather than Renter). Following are some Advantages and Disadvantages of these Home Types and their comparisons: