it’s not for the traditional. More and more potential homeowners and renters are seeking
out multi-family residences rather than single family. In fact, World Property Journal
reports the rise was 29.4% in multi-family properties and single family properties declined
by .9%.
Today’s generation has an affinity to seek living quarters in and around the city rather than
in a suburban neighborhood, and would much rather rent than buy according to the
reports of Christine Jordan Sexton at Realtor.org.
What are the benefits of renting the multi-family verses owning the single family?
Less worry over maintenance: yard work, appliance fixing, structural malfunctions are just
a few of the up sides to renting, that’s the land lords job to maintain and fix. Whereas with
owning your own property, the responsibility to fix things lands with you.
Living inside the city in a multi-family means less of a work commute and easy pedestrian
access to entertainment and take-out for the young who are not ready to settle down. It
also means easy access to hospital or emergency care.
However, there is no investment in renting as there is in owning. The hundreds of dollars
wasted every month in rent go into the pockets of the landlord, so when you decide to
move there’s nothing there for you. Owing your home means equity; a sold investment
even for a fluctuating market like real estate is always a better option.
To more information in this trend check out the full articles here at:
http://www.realtor.org/articles/the-rise-of-multifamily-housing-multiple-family-
residences-are-dominating-new-construction
http://www.worldpropertyjournal.com/real-estate-news/united-states/new-home-
construction-july-2015-housing-starts-us-department-of-housing-and-urban-
development-new-home-construction-nahb-david-crowe-9234.phpB
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