Rising Popularity of Multi-Unit Homes

Green Escrow | Real Estate News

According to a recent article at RISMedia, some first-time home buyers are using the purchase of a multi-unit home as a way of covering the cost of ownership by using the additional as either a mother-in-law apartment or a rental unit. The article note that many renters prefer to live in a smaller unit rather than an apartment complex.

The New York Times reported that 15 percent of home buyers are willing to pay extra for an accessory dwelling as it will serve as added income and increase the value at resale time.

As multi-generational households are increasing, these extra untis can be used for relatives, tenants or a detached home office.

Currently these multi-unit homes are expensive, often selling at up to 60 percent more than single dwellings.