A single-family home is exactly that – a home where one family lives. There are many variations and styles of single-family homes. There is ranch, cottage, cabin to country, colonial and contemporary. These homes may be a single-story or have more than one.

Many of these homes come with a yard, some with a garage and some with a swimming pool. With a single family home you will generally have to do your own yard work and maintenance or pay somebody to do this.

The owner of a single-family unit generally owns the property above and below the home, which is the air above the house and the soil beneath it. Many families convert part or one entire level of their residence into a separate residence for another family to live in. They collect additional rent from this. This can help make mortgage payments more manageable.