In our first two posts of this series, we explored the benefits townhome living and duplex living. If those homeownership options didn’t quite meet the match, read on for a few insights into the benefits of single family living.
Long-term Investment
Single-family homes are a long-term investment. You can move in and see it through a long period of time & many seasons of life. This in turn typically helps to build up resale and property value in your home – specifically in newer communities which have not yet matured. Residing in a home over a long period of time, keeping your home up to date and paying down that mortgage will ensure a better return on your investment in the long run, rather than moving homes every few years.
Flexibility
Single-family homes offer the most flexibility in terms of ‘livability’ (wide range of people and families that can reside there) – they offer something for everyone. As these homes appeal to the widest range of folks, resale is often easier as the market will not be as saturated at a certain price point.
These models are also flexible with a larger amount of square footage and space that you can grow into and develop in time. There is no need or rush to do it all right away!
Privacy & Freedom
With condo, townhome or duplex living, you lose a little privacy with each home as you share the space with your neighbour. With single-family homes, depending on the size of your lot, creates a small buffer between neighbouring roads and noise pollution. As you do not share the property with anyone but yourself, this allows more freedom for the types of landscaping, decorating and all-around choices you can make as a homeowner.