It’s one of the age-old debates in real estate – single storey versus double storey.
Both property styles have their own unique benefits and disadvantages which must be taken into account as you consider which type of property to purchase as an investment. Whether a one-storey home is a better investment depends on many different factors, including personal taste, the local real estate market, and location.
Benefits of Single Storey Properties
Some people believe that single level homes are more visually appealing than multi-storey homes. However, this is highly subject to personal taste as well as the prevailing architectural style. From a more practical perspective, single storey properties may be beneficial because sound travels easily between floors.
Single storey properties can also appeal to buyers who find stairs difficult or dangerous to navigate, such as older adults or those with disabilities. Families with young children also prefer to avoid stairs, which can be a safety hazard for curious toddlers. Although gates mitigate this problem, single storey homes may be appealing to avoid the problem altogether. Staircases can also take up valuable space within a home which could be used for storage or living space.
Benefits of Double Storey Properties
One of the first benefits of multi-storey properties is that they tend to have larger yards. This depends on the area, but many will allocate a certain percentage of a lot size to the building structure. Single storey homes tend to take up a higher percentage of a lot to fit in adequate square footage, leaving less room for garden space.
Multi-storey properties can build up, leaving more room for a yard. If you’re catering to buyers or renters who would find yard space important, such as families, then a double storey property may have the advantage in this regard. If lot sizes are small to begin with, double storey homes also allow you to make the most of your space.
Another advantage of double storey properties is that although construction costs may be higher, they can be built on less expensive lots which could translate to affordable prices. Large single storey properties require bigger blocks of land, which could lead to a high price tag.
There are pros and cons to both types of property. As land to build becomes increasingly scarce, particularly in inner and middle ring suburbs, double storey homes are becoming increasingly popular. They allow you to build a large home on a small block of land. High-set homes can be more cost efficient than single-storey living.
Yet at the same time, single storey properties remain a strong investment particularly in suburban areas. There are several reasons why they are consistently in high demand. Without the danger of stairs, they appeal to retired adults as well as families with young children. In the end, whether or not a single storey is a better investment boils down to the taste and lifestyle needs of the buyers or renters you’re trying to attract.
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