Are you thinking of buying a few properties as rentals? Your first thought may be to purchase duplexes or even a few walk-up buildings. However, more and more landlords are beginning to buy single-family homes to rent out. Is this a good approach for your real estate investment? That depends. Take a look at these pros and cons of buying single-family homes as rentals.
Pro: Your property taxes will probably be lower.
- If you plan to buy a home in 2020 or 2021, you face many new and unique challenges due to the pandemic, regional closures, and a struggling economy. But if you want to save money by trying to go it alone without a realtor, you may want to reconsider. Now is a time when a professional real estate agent could be more important than ever. Here are four reasons why.
- Buying a home is a big decision and an important process in which you want to have the best knowledge and keys available to you to succeed. When you hire a professional real estate agent you will have their real estate knowledge along with expertise on negotiating the contracts and arranging for the final closing meeting. Here are some additional tasks that your real estate agent will help you with when you are ready to buy a home.
- You might be trying to decide whether you should buy a single-family home or a condo. It can be a big decision and both choices could have advantages to them depending on what exactly you want in your home. A condo can be convenient for not having to worry about making your own repairs or maintaining the grounds, and a home can give you the privacy that a larger building just can't.
- If you're shopping for a home, your first thought may be that you really don't need that much land. You just need enough space to have a few flower beds and grill outside, right? This may be true, but actually, many homeowners do find that they benefit from buying a little more acreage than they think they need. A home on a 2, 3, or even 5-acre lot is often preferable to one on a half-acre for the following reasons.