Real Estate Resources and Advice For Growing Families

Single-Family Or Multi-Family Homes?

Home shopping during the COVID-19 pandemic has been altered by forces outside its control. And this gives new impetus to the decision between buying a single-family home and multi-family real estate. How can you choose the option that will work best for your own current circumstances? Here are some tips for buyers whose situations have changed recently.

1. Those Who Work From Home. If you're one of the millions who have switched to working from home, you may not need to worry about your commute anymore. This frees up anyone who would prefer to live in the suburbs and have more space to their name. The work-from-home environment also calls for a dedicated office space, protection from outside noise, and ways to entertain the kids — all of which tend to be less available in multi-family housing. 

2. Those With Home-Schooled Kids. Are your kids returning to school in the fall? If not, now is the time to assess how your home will fit everyone all day long again. Property with a yard and separate rooms for everyone can help keep your family from becoming more annoyed with each other as the months progress. 

3. Those Who Now Entertain At Home. Many people are hesitant to go out for entertainment and recreation now, even when local businesses aren't closed. In this case, the right home choice depends on how you entertain and play. If you tend to go to bars, clubs, or group dinners, consider a home with an outdoor entertainment space and bigger interior rooms. If your idea of a good time is hitting the gym or the dog park, look for multi-family complexes with on-site amenities instead. 

4. Those Who Want to Avoid Crowds. The less densely populated your neighborhood is, the less you come into contact with strangers during your daily activities. Single-family homes are spaced out more and have less immediate contact between neighbors. Shopping options and recreation areas in these neighborhoods also tend to be more spread out and less crowded. 

5. Those Who Need a Good Deal. Have your finances been put at risk by the recession or pandemic? If so, you may be wise to adjust your home shopping goals now. Apartments and duplexes are often less expensive than single-family homes. By avoiding the temptation to stretch your monthly budget too far, you'll be better prepared for income changes later on.  

Which category do you find yourself in during 2020 and into 2021? No matter what changes you face, the right home can help you manage them more successfully. Learn more about today's real estate market and your choices by meeting with a real estate agent.