Photo: Apartments and Townhouses Designed and Build by one of our Builders – Metricon.
More demand plus high occupancies is an easy formula for high rental income.
More people prefer or can only afford to rent than buy, most of the time their preference is a single residential house..
Another thing to note is that vacancy rates have hit historic lows in recent years. This is important for you as an investor, increasing the likelihood that your tenants will remain in the property and not move out. Single residential homes generally have higher occupancy rates to begin with! So, as a result, even higher occupancies are expected for single family homes.
Single residential homes tend to be cheaper than Dual Residential properties.
Even when important factors such as area, maintenance, and age are held constant, single residential homes are set at lower prices. The main reason this is the case is that single residential homes are simply smaller than some other properties.
The lower prices of single residential homes can serve as a great incentive for investors. Since this type of property is cheaper than other properties, they are often easier to purchase.
Lower prices also mean that obtaining a bank loan becomes easier. This is great for all investors, but young investors in particular. By investing in single residential homes, younger investors find a great opportunity to get involved in property investing.
Even if you plan on not renting long-term and want to sell your property, investing in a single residential house is a great choice. For instance, they have great liquidity; they can sell relatively quickly, even in a slow market.
As a result, more prospective buyers will be in the market, wanting to purchase the property. Single residential houses also have a high value. They appreciate faster than other types of properties. Whether you’re counting on rent or appreciation from your investment, single residential homes can do it all.
Again, this information is here to help you with your research. The type of property you invest will still depend on the type of property investor you are.
Here at Positive Income Properties – we source the right property deal based on what will work for our client. We are involved in every step of the way – (from sourcing to financing, and finally turn-over and renting the units!). Regardless if you are a seasoned property investor, a beginner or simply wanted your 1st home – we will assist you. We secure tenancy from the onset of the turn-over, please refer to our 1-3 Year Rental Guarantee HERE.
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