The term 'HOMEBUYER'S OPTION' can be summarized as a type of real estate purchase that involves the purchase of a condominium, or 'CONDO'. A condominium is a type of housing where multiple units are contained within one building or complex, and are owned individually. Homebuyers have the option to purchase a condominium unit, which is typically more affordable than purchasing a single-family home. This type of purchase also offers the benefit of shared amenities and services, such as a pool, gym, or other recreational facilities.