When browsing the real estate market, one term you may have heard used fairly often is “single-family home”. But, what is a single-family home exactly, and how is it different from other types of homes?

According to the U.S. Census Bureau, a single-family house is one that may be fully detached, semi-detached, a row house or a townhome. However, for a dwelling that’s attached to other homes to be considered a single-family home, it “must be separated from the adjacent unit by a ground-to-roof wall,” they note. Also, units that are attached in some way to another must not share heating or air-conditioning systems or utilities, nor have units located above or below. You can also visit for tiny homes for sale Ottawa.

In most cases, it is what you would imagine it to be—a freestanding home set alone on its own piece of property. 

However, it’s not as easy as how your mind defines it. This single dwelling unit / independent residential structure should have these structural requirements to be classified as a single-family type of home:

Land:

• A single-family home sits on its own land, and has no shared property. The area around the built building or property should be for private use of the owner.

Single kitchen:

• This kind of home has one kitchen. Adding a kitchen to an in-law suite or carriage house will alter a home’s zoning classification.

Unshared Walls:

• The home doesn’t share common walls or a roof with any other dwelling.

Entrance and exit:

• It has a private and direct access to a street or thoroughfare. This is opposed to an apartment, which has hallways and a lobby that lead to street access.

Unshared utilities:

• Only one set of utilities can service this home—and may not be shared in any way with another residence. This applies to heating, electricity, water, or any other essential service.

One owner:

• This home is built as the residence for one family, person, or household, whose owner has an undivided interest in the unit.

Single kitchen:

• This kind of home has one kitchen. Adding a kitchen to an in-law suite or carriage house will alter a home’s zoning classification.
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TWO TYPES OF SINGLE FAMILY HOMES

Attached single-family homes are home units wherein the occupants inhabit a shared wall with another home. They’re often found in the form of row houses, subdivision, or town homes, 

Detached single-family homes, on the other hand, are separate structures that don’t share a wall with another building.

SINGLE FAMILY PROPERTY MANAGEMENT

According to Pew Research, around 43 million  American households rent their home. And while the rental property market continues  to grow, now’s the time to take your property into an income-generating investment! How? Simply have a well-trusted single family property management company to do all the “renting-out” hassles for you. 

When the Pandemic hits global, no industry was not affected by it. However, people who got their property for rent were able to earn a profit even middling the COVID-19 recession – which explains why most property experts suggest investing in Single-Family Home Property. SFH is forecasted to heighten its demand, partly due to millennials. Millennials want a home with space to raise a family, and them becoming more transient, they’re likely willing to rent – no matter how costly it is. Who doesn’t need shelter anyway. 

Many choose to work with a property manager who has the time and expertise to overcome the difficulties of having a single family property be occupied. If you’re still wondering what really is the buying edge of Single-Family Homes, here are the Pros and Cons which can help you levy if it is the right property type for you:

Pros

• If you’ve got a detached single-family home and rented it out, tenants have the advantage of not sharing walls or common areas with neighbours. Therefore, privacy is very much promoted. 
• Large yards to upkeep is both a challenge and a privilege for SFH. Your tenants will have an extended space for them to lawn, play with children, picnic, or even garden barbecue events. You can’t get these to other property types like condos and townhomes.
• Tenants can have an extra huge storage space like an attic, garage or basement.

Cons

• For long-term tenants, you may find it annoying when they’re too used to the place and do stuff on their own like changing wall paints or tile works. 
• Tenants are responsible for landscaping and outdoor maintenance unless the homeowners association (HOA) fees cover this.
• You, as the owner, may experience payment fluctuations for homeowners insurance and property taxes.

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