Do you want to invest in North Carolina real estate or real estate in the southeastern U.S.? If so, multi-family housing is a category you can’t afford to ignore. These buildings fall into the category of residential real estate. Still, they differ from traditional housing options in a significant way. Whereas single-family homes house one family, multi-family development aims to provide independent housing space for multiple families in a single structure.
This type of development comes in all shapes and sizes. While duplexes are different from small apartment buildings and condo complexes, these all fit under the umbrella of multi-family real estate. That said, the size of these buildings matters – if a residential property contains over four units, it is instead referred to as a “commercial” property.
As of August 2021, America’s multi-family housing industry continues to grapple with the economic effects of the COVID-19 pandemic. However, as the national economy continues its recovery, multi-family housing is expected to follow suit. If you’re wondering why multi-family housing is so appealing, keep reading for a closer look at the benefits of multi-family real estate development.
The Perks of Multi-Family Housing
Today, multi-family housing is an essential aspect of the United States real estate market. Here are some prominent reasons why this type of housing appeals to so many people:
Low Cost of Entry
Buying a house can be stressful for several reasons, including the sheer expense involved. If that’s a crucial factor for you, it might be worth it to investigate multi-family housing. In many cases, the cost of entry for these structures can be lower than that of single-family homes!
Possibilities of Unit Rental
Multi-family housing won’t just save you money upfront – it can actively generate income for you, too. If your multi-family development has vacant units, you can rent these units out to other
families. That can make it considerably easier to pay off your mortgage or help cover the costs of homeownership!
Tax Savings
When April 15 rolls around, any homeowner can benefit from various tax breaks. For multi-family housing owners, these benefits can even cover units they aren’t living in. You could be able to deduct costs on upgrades, maintenance, and more for other units in your multi-family property.
Less Upkeep
Some homeowners enjoy owning large properties, but this comes with a great deal of hard work. Would you like to invest in southeastern real estate while minimizing the time you’ll spend taking care of mowing, snow removal, and other outdoor chores? In that case, multi-family housing may be right for you.
Space for Extended Family
In some cases, the families living in multi-family housing are technically part of the same family. If you’d like to help your relatives by letting them move in and want space for yourself, multi-family real estate is a fantastic choice.
Ask Us About Multi-Family Housing
For these reasons and more, multi-family housing is here to stay in America. Catalyst Capital Partners is proud to invest in high-quality multi-family real estate projects across North Carolina and the southeast U.S. region. If you have any questions regarding our multi-family housing projects, feel free to get in touch!