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Choosing Between Single Family Homes and Multi-Units

Choosing Between Single Family Homes and Multi-Units

Investing in real estate is one of the biggest decisions a family can make. For this reason, the discussions in choosing between a single-family home and a multi-unit are a hot topic among homeowners community in Illinois.
Today, we want to tackle some advantages and disadvantages of both choices. At the end of the day, it’s you who will decide which you would prefer.

  • Multi-Unit Homes

    From the word itself, multi-units are properties where more than one tenants are occupying a home. One of the advantages of this arrangement is the lower cost per unit. Hence, you’ll have a better cash flow. Also, you will not be required for a commercial loan if you have four units or less. The downside of multi-units is the large downpayment requirement. Another disadvantage is the stressful property management since you have to attend to multiple tenants.

  • Single Family Homes

    Simply, this home is occupied only by a single family, like the homes at Sauganash community association. The biggest advantage of this home is owning a property without sharing a wall or ceiling with someone else. Also, investing in a single family home is affordable, because there are a lot of mortgage lenders for this type of rental. The disadvantage, however, is that you’ll have to pay higher since you don’t have someone to share with the expenses.

Homeowners Association in Chicago, Illinois commonly chooses single-family homes for various reasons. If you need to learn more about how to choose the right fit for you, feel free to contact us here at Sauganash Woods Homeowner’s Association. We are glad to discuss this topic with you.

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