Multi-Family Property Buying Guide

Are you thinking of buying a multi family Property? If so, you're in luck because some great options are available right now.
Whether you’re looking for a duplex, triplex, quadraplex, something small and cozy or a larger property that can accommodate more people, there’s definitely a multi family home out here in Cochrane that’s perfect for you. Keep reading for a closer look at some of the best multi family homes currently on the market in Cochrane. Give us a call today and let us help you find the perfect multi family home.

What is a Multi Family Home?

A multi-family home is a single home that is built to house more than one family. They can range from apartment buildings with multiple units, a duplex which has two dwellings or more. (Buildings with more than four units are considered commercial properties.)

Why Buy a Multi Family Property?

When it comes to real estate, multi family homes are often seen as a great investment. And it’s no wonder why – they offer a number of benefits that single family homes simply can’t match. For instance, multi family homes are perfect for growing families. Not only do they provide more space, but they also give you the option to rent out extra units to help cover your mortgage payments. All of these factors make multi family homes an attractive option for both buyers and investors. So if you’re considering purchasing a multi family home, Cochrane is a great place to start your search. With a wide selection of multi family homes for sale, you’re sure to find the perfect property for your needs.

What to Look out for in a Multi Family Home

The right information is very important when purchasing a multi family home in Canada. From financing to renting, maintenance, etc, getting the right information can help to make the entire buying and management of your multi family home seamless. Below are 4 key factors you should consider when buying multiple family homes in Cochrane.

Location: Location is one of the most important factors to consider when buying a multi family home in Calgary, Alberta. A great location means more tenants which means more money into your pocket.

Today Number of Units: The next to evaluate the cost of a multi family home in Cochrane is the total number of units the home has. The total number of units can give you a rough idea of how much you can make in rental income from the house.

Potential Income: Potential income is another factor when purchasing a multi family home in Calgary. Sites like Rentometer.com or Craigslist are very helpful in finding rental prices but investors should keep their eyes open taking everything into consideration.

Cost: Every situation will differ when financing real estate, especially multifamily properties. You may choose to live in one of the units or homes while renting out the rest to qualify for owner-occupied financing.

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