REMI Recommends that Buyers Take a Look at Multi-Family

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The Real Estate Marketing Insider follows up on news that Sarasota home builders are increasing multi-family offerings, by stating that the new homes are worth a look from home buyers.

The Real Estate Marketing Insider responded to a report in Virtual Strategy Magazine that home builders in Sarasota are increasing their multi-family offerings. REMI advised its readers, especially those looking at their first home purchase or transitioning from rental, to take a serious look at multi-family housing while researching properties.

Multi-family housing is exactly what it sounds like: permanent real estate designed to house more than one family, usually while still allowing each resident their own space. Common multi-family real estate offerings include apartments, condominiums, and duplex or triplex houses. In Sarasota, Fla., multi-family homes are becoming more attractive to consumers, and as a result, home builders have stepped up their production of multi-family town homes in Southwest Florida in recent years. Furthermore, multi-family developers in the area have bought fourteen additional lots in recent months and are looking for more space. Most properties in Sarasota hover between 1400 and 1500 square feet, and are substantially smaller and more versatile than single-family housing.

REMI advises its readers interested in buying homes, especially first homes, to seriously consider multi-family real estate. Despite the smaller size, there are real benefits to multi-family housing. For example, multi-family homes are generally cheaper - the homes in Sarasota start just under $200,000, with some units available for as low as $150,000. There also appear to be more multi-family homes available than single family homes, with six months of multi-family inventory readily available in South Florida. The nature of multi-family living might also suit some buyers better, because it allows for greater access to urban areas, since most urban living is multi-family. It also relieves homeowners of maintenance responsibility, and can easily become an income-generating property should the owner move to another home and decide to rent the space. Interested buyers can look at multi-family offerings in their area by heading to any of the best real estate sites or by checking with a realtor.

The Real Estate Marketing Insider suggests that first-time homebuyers take a close look at multi-family housing, after news broke in Sarasota, Fla., that multi-family housing was becoming more popular with home builders. Multi-family homes tend to be cheaper and more urban than single-family properties, and retail for between $150,000 and $200,000 in Sarasota.

About Real Estate Marketing Insider:
The Real Estate Marketing Insider helps its readers make decisions about home buying, selling, and investing. Readers of REMI enjoy market analysis, breaking news, and hot tips about new listings.

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