Wondering what type of home you should buy – duplex or single-family home? What are the differences? Read more to learn whether a duplex or a single family home is right for you. We explore the cost and home value as well as why builders may focus on building duplexes.
What makes a house a duplex?
A duplex is where you have two homes side by side that are adjoined by a single wall. It differs from a single family home as those do not adjoin any other homes.
Are duplexes worth more than a single family home?
A duplex could be worth more than a single family home. It depends on the two homes you compare. A duplex could have a double garage, whereas the single family home might be on a smaller lot with a smaller square footage.
Duplexes are not always worth more than a single family home, so one must compare the options on the real estate market.
Comparing by price per square footage, they could even be the same.
It is always a good idea to work with a local experienced realtor who can help you get the right home at the right price. They can help you find homes that meet your criteria whether a duplex or single family home is right for you.
Pros of a Duplex over a Single Family Home
Duplexes are gaining more popularity over the past few years. That’s simply because you can get a bigger square footage of the home than a single family home. Not to mention, your backyard space is significantly bigger. Each of the yards will still be split. There is a fence line between you and your neighbour, so it is still private to your space.
Usually with a single family that would be comparable in price to a duplex, you have little to no backyard. Plus, the garage actually sits in the back or in the front underneath the rest of the house and it is detached from the home.
Cons of a Duplex over a Single Family Home
One of the potential cons of a duplex is that you are right next to your neighbour. Your homes are side by side adjoined by a single wall. Some may have concerns for privacy in a duplex as opposed to a single family home. That is a thought that a lot of people do have as a first time buyer coming through.
However, many people cannot tell the difference in privacy between a duplex over a single family home. Thus, the shared wall may not be as troublesome as one might think. This is something a buyer can observe when touring around potential homes.
Why would builders go towards a duplex over a single family home?
It is more efficient for a builder to build a duplex rather than a single family home. You have two units coming up side by side at the same time and it’s more cost effective. Thus, in turn builders can put more square footage into the home. So on the other hand for the buyer, you get more square footage and more land value. It’s a win-win situation.
Looking for a Duplex or Single Family Home in Vancouver BC?
Work with top local Vancouver realtor Leo Wilk to find the perfect Duplex or Single Family Home for you.
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For more information on real estate market in Vancouver, current trends, buying a home or selling a home, contact Leo Wilk – Your Top Vancouver Realtor.
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