A Single Family Home is a residential property in which the building is maintained and used as a single dwelling unit. Most single family homes also include a yard or garden.
Montreal's growing and changing market has also pushed up the growth of single family homes as a viable investment. Unlike condos, single family homes have their own advantages and disadvantages.
Advantages of buying a single family home:
- Single family homes can cost more but also tend to be less subjective to market fluctuation, because of their unique characteristics.
- More privacy - Single family homes are usually enclosed within a fence, offering more privacy to the homeowner.
- Your house - your rules! - Single family homes offer more freedom to renovate or maintain the property as per the homeowner's wishes.
Disadvantages of owning a single family home:
- Buying a single family home will cost more than buying a condominium
- Single family homes are usually located further away from the downtown core
- Higher maintenance costs, as all repairs are paid for by a single homeowner