Hunting for the best - Single unit residential property vs Multi-unit apartments

Author: Emiley Grace

Most of the newbies who are stepping into real estate investing will definitely have this question. Either to invest in single-unit residential property or multi-unit apartments. It’s a pretty common question out there and the answer to this depends on the investment to be made. Most people think that going for a multi-unit can be beneficial because when one unit is free another one may be occupied which can bring some income in your business funnel. That’s true but it also has some different results. Let’s analyze which one is the best!

The choice of going with single-unit or multi-unit is basically based on various factors such as

  • Timing of the year

  • Financial risk

  • Experience in the real estate industry

These are some of the things that you need to consider before investing in any property. If you are limited with capital investments then you need to stick on with single-unit residential property because maintenance and other aspects of a property are low when compared to multi-unit properties.

But if you are investing in the property for the first time but have got much more experience then you can definitely give a try for multi-unit.

Location

The location also plays a prior role in investing. Check the comparables sales data of your property location so that you can get a clear picture of sticking onto single or multi-units. If your location is close to the city or complexes then going for a multi-unit will work out fine. If your location is moreover of a residential place then sticking onto residential single-unit can work out.

Maintenance

Either your property can be single or multi-unit, maintenance will travel along from the beginning of your investment. Here is a small check-list of things that you need to keep in mind for a single-unit.

  • Lawn

  • Amenities

  • Water bill

  • Minor repairs

These are some of the things that you need to check on the single-unit property. And for a single-unit property, you should be the one who is involved in all these tasks. You cannot assign the work to a contractor or some other company who are experts in the same field.

When it comes to multi-unit all these things can be taken by the property management company. There are so many experts who can take care of your property more than how you can take better care. If you are a busy person, then multi-unit will be the right choice for you. It can eventually increase your income and even property management companies can help you in maintaining the property as new as possible.

With all these aspects lining in, it is purely your choice to place your investment either in single-unit property or multi-unit property. If you are looking for some good property listing sites across the USA, then Enriched Realestate can help you out with proper listings. Now, it’s your call to make either to stick on with single-unit or multi-unit. The more you invest in the property, the more you can get out of it. Happy investing! Visit: https://www.enrichedrealestate.com/