Single family homes are those homes which are inhabited and used as a single dwelling. In this article, Zack Childress, a real estate investor, reviews the pros of single family homes.
2. Introduction
Single family homes are those homes which are inhabited
and used as a single dwelling.
In this article, Zack Childress, a real estate investor, reviews
the pros of single family homes.
3. Longer duration of lease
The lease period is longer.
Most of the renters who rent single family homes are doing
so to save some bucks.
Thus single family homes are great sources of income
for many people and provide a good return on investment.
4. More space for families
If you want a home, where after some years, you are going to
have your aged parents stay with you, then, you should go in
for a single family home.
Single family homes can be a great place for parties, family
reunions and other recreational activities.
Also, if you have 3 or more children, single family homes can
be a better option for you.
5. Personal freedom
You can have private recreational activities like starting a
club, gardening, yard sales and vacations in your own homes.
You can arrange parties in your home and celebrate.
This will not disturb others and you will enjoy yourself. In a
multi-family home, even if you have walls to separate the
dwellings, the thin walls cannot obstruct noise from being
transported across.
This will trouble others and will pave the way for unnecessary
quarrels and complaints.
6. Lower property taxes
Single family homes have lower property taxes as compared
to multi-family homes.
Property taxes take up a chunk of your other housing
expenses.
Thus lowering of property taxes will help in saving money.
Resale value:-
Single family homes when maintained well ensure a very
good resale value.
People who are planning to sell their properties after a few
years can go in for single family homes.
7. No fights and squabbles
Tenants of a multi-family home are highly prone to fighting
since they share common facilities and common areas.
But, there is no danger of quarrels in single family homes
unless it becomes a issue with the entire street or area.
Single family homes have privacy, more space and personal
freedom. Also the cost of managing single family homes is
lesser as compared to multi-family homes.
To get a better insight into the advantages of single family
homes, read the article on pros of single family homes by
Zack Childress, a real estate investor.
8. some of the cons of single
family homes
vacancies can hamper rental income
home association fees
cost of maintenance
cost of amenities
personal freedom can be costly and tiresome sometimes
privacy can be risky
difficult to sell
9. Vacancies can hamper rental
incomes
The moment lease ends, the property becomes vacant and
the rent stops coming in.
The cost of placing a new tenant is common for all homes not
excluding single family homes.
Home association fees
Most of the homes in a locality are associated with home
associations. The property owners have to pay monthly
payments to the HOA which can take up a part of their
expenses.
10. Cost of maintenance
The cost of maintenance is higher for single family homes.
The owner has to pay everything from his pockets but
whereas in case of multi-family homes, the costs of
maintenance is shared among the dwellers in all the homes.
Cost of amenities:
The costs of amenities like children’s play area, swimming
pool, table tennis court and so on are much higher in case of
single family homes.
In fact it is non affordable unless the family has a very high
income.
11. Personal freedom can be
costly and tiresome
sometimes
Of course with single family homes, you have more personal
freedom.
You can organize family reunions, keep more pets and throw
parties.
But who is going to clean up after these events. It is you.
You can hire a servant but still you have to spend quality time
supervising.
12. Personal freedom can be
costly and tiresome
sometimes
Also, you can get friends to help you but you have to work
along with them.
Sometimes your valuable things may get damaged
unknowingly. Say someone breaks your costly German flower
vase while dancing.
You bear the loss of the flower vase.
If your servant damages the kitchen slab while working, then
you have to bear the replacement costs.
13. Privacy can be risky
In a multi family home, your neighbors become like your
family members in the long run.
They help you out in times of crisis but this may not be the
case with single family homes.
Also, crimes are more likely to occur in single-family homes. If
you go for a tour for 2 to 3 days and you cannot take your
kids along, then you may not have anybody looking after the
kids.
But in case of multi-family homes, your neighbors may offer
to look after your pets and kids until you come back.
14. Difficult to sell
Single family homes are difficult to sell. There are not many
who would want to buy a single family home.
Only people with high incomes can afford them.
15. Conclusion
Single family homes are advantageous in terms of lower
property taxes, peace and space.
Zack Childress brings out the pros on these terms beautifully,
in this review.
Thus Zack Childress brings out the disadvantages of single-
family homes with respect to privacy, costs and amenities.