When it comes to investing in San Francisco homes for sale, the options are as vast and as diverse as the city itself. Now, while there’s a saying that no two properties are the same, it is still important to take into consideration the type of property you’ll be investing in. San Francisco real estate, after all, is in no way cheap, so it is important to ensure that your investment can help you earn back what you spent as quickly as possible and then some.
Conventional thinking dictates that apartment buildings or duplex houses is the ideal choice, as these would allow you to generate an income stream. However, there are also benefits to opting for a single-family-home or two, and it is not just to serve as an alternate offering to the multiple-family variety.
People are looking for more space now
As a result of stay-at-home protocols stemming from the ongoing pandemic, many have had to make a living from home.While the hope is that everything goes back to normal soon, there is also the assumption that many companies will adopt the work-from-home set-up for jobs where it can be applied long after.
So for many homeseekers, home offices are now in the search criteria for places to live, often making single-family homes the better choice for them. In addition to a bigger floor area, single-family homes also feature open space that appeals to potential tenants who like gardening and outdoor activity.
There are fewer people to manage
Multiple-family dwellings are exactly as the name suggests—a place with many tenants. If you’re lucky, they’ll live like a true community, but chances are they won’t always see eye to eye. As the landlord, you’ll essentially be something of a babysitter to them if you want them to stay and keep renting.
With a single-family home, you only have to deal with one set of people. House dwellers tend to take better care of their place, doing the upkeep of the yard as if it were their own. They will generally treat your house better because house dwellers tend to stay long term, and are often also open to buying the place from you if available.
Less expense and maintenance
Single-family homes often only need one (or two at most) of everything, be it a furnace, laundry machine, or toilet. Multiple-family dwellings, on the other hand, require multiple units because there are of course more people there. The latter is expectedly more expensive, and can also be frustrating and time-consuming to maintain.
With single-family homes, tenants are usually responsible for the payment of utilities, which means one less thing for you to worry about, as opposed to multiple-family dwellings where the set-up is often the other way around.
Looking to buy a single-family home for investment or use? Connect with one of our experienced San Francisco real estate agents and begin building your property investment portfolio in the area! Contact me, Amir Hardy, at 415.602.0570 or send an email to amir.hardy@compass.co.