4 Reasons A Single-Family Home Is Almost Always A Safe Real-Estate Investment
Investing in real estate is something that should be done with the utmost in forethought and careful consideration. If you are planning to buy properties to rent out, single-family homes can make a logical choice. Here is a look at why.
1. Single-family homes tend to grow in value.
While some properties can depreciate in value over the year, single-family home values tend to remain more stable, or even better, they grow. In areas where single-family homes are in high demand due to a growing population, you could easily buy a home one year and see it become more valuable within a few short years.
2. These homes usually offer outdoor living space.
If you are investing in real estate for rental purposes, outdoor living space is always a major advantage. In fact, a nice backyard is oftentimes one of the first things a prospective tenant will look at in a property they are considering renting. Duplexes and other multifamily units do not always offer this valuable outdoor space, so this is a property attribute that can mean more tenant stability and higher income potential.
3. Garner more monthly rent for your property.
It is no secret that single-family units do rent for more than most apartments or other units in a multi-family complex. However, many new investors have no idea just how much the difference can be. Single-family homes are one of the fastest-growing types of rentals in the United States, and they have been that way for several years. This is because of the fact that these freestanding dwellings are more preferred by tenants, and the number of renters compared to homeowners is ever-rising. You could easily get double or more for the monthly rent on a home compared to an apartment.
4. Single-family homes are relatively easy to manage.
If you are managing an apartment complex or a multi-family housing unit, it is not uncommon to have to hire a property manager to handle all the maintenance tasks. Multiple units mean you have a lot more to take care of, but a single-family unit is going to be much less burdensome. You have one heating and cooling unit, one plumbing system, and one living space. Likewise, people who move into these units tend to be responsible for managing their own lawn care or landscaping, so that is yet another thing you will not have to do on your own.
For more information about single-family home real estate, contact a local real estate agent.
