Bungalows offer the best return on investment in residential real estate. If you are considering an investment property, consider a bungalow. If you have any questions, contact a sales representative from DurhamBungalows.ca
When purchasing a property being for a Family home, perhaps looking for investments in real estate or both, many don’t stop to look at what `Type’ of property they want to purchase to get the best return on their investment.
Bungalow Highlights
USABLE SPACE: Bungalows typically are built on large foundations, one main floor and a basement. The “usable space” of bungalows are entire length and width of the home. Being that Bungalows site on a large lots their space tends to be wide open to allow additional living space which can bold well for adding an in-law-suite or apartment (always check with by-laws)
EXTRAS TO ADD VALUE TO TENANTS AND PERHAPS MONEY IN YOUR POCKET: Bungalows, especially older ones, tend to sit on a min 50ft lot. If your property is tenanted in the basement and someone on the main level, to add more value, you can simply erect a fence (check with appropriate by-laws or contact us) splitting your yard in half, allowing each tenant to have their own space to entertain, relax and or split the duties on lawn maintenance… whatever the value… it can add to your pocket book. Some tenants are willing to pay more for an exclusive space of their own.
PRIVACY: Many Bungalows are situated in areas among other bungalows. Being that they are single level, if your neighbours’ and the people behind you also live in Bungalows, by adding some shrubs or a tree line to your property, this can provide you with the privacy you have been looking for, in some cases, you wouldn’t even know you had a neighbour!
ECONOMICS: We all know that the price of natural gas is escalating and my doubts are that we won’t be seeing major reductions!! That’s another topic all together. There are many renovated bungalows out there that can be renovated or already are that have an attractive open concept design, which will allow heat to easily make its way around the home, and being that there is only one level to heat (excluding the basement) you may see a reduction in heating costs.
ACCESSABLE: This can be a huge value! Bungalows are typically very accessible and with the aging demographics, and with health challenges that can come as a results, it can be very helpful to have all amenities and access on one level, plus, cleaning and entertaining become much more efficient.
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