Definition
A residential property that includes both the house structure and the land it sits on. The buyer owns both the building and the lot, unlike condos where land ownership is shared. House and lot packages are common in subdivision developments.
Examples
- •Single-detached house and lot in a subdivision
- •Lot area: 100 sqm, Floor area: 80 sqm
Tips & Best Practices
- ✓You own both land and structure
- ✓More privacy but higher maintenance
- ✓Check subdivision rules and restrictions
Related Terms
More in Property Types
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