Should I Rent a Single-Family Home?

When shopping for a Saint George rental, it can be tricky to decide if a single-family home is right for you and your needs. Single-family homes are a relatively new category of rental properties, and they are priced differently than other rentals, which are usually thought of as apartments or other multi-family units. However, in recent years, single-family homes have begun to make up more the 50% of the market for residential rentals.

Single-family homes, which are generally stand-alone properties in neighborhoods where many homes are owned, are often preferable to many families. In these types of developments, a family’s rental status is undetectable to their neighbors that own the surrounding homes. Sometimes a family whose home has gone into foreclosure is able to make the rent payment on a single-family rental home and will find that to be a preferable option for their family size. In the past 5 years or so, foreclosures in the market have turned over 3 million homeowners into renters of homes of similar size.

In a single-family or stand-alone home, a family will be able to have a lot more square footage, bedrooms, and bathrooms than in a multi-family unit in most cases. In addition, a family will enjoy privacy and noise privacy, which is a valuable asset if you have young children or pets. Another added bonus to renting a single-family home is that you will likely have access to lawn or garden space, which can be great for pets, children, and entertaining. Another benefit is the permanent feel of a family oriented neighborhood, as well as increased parking space availability.

However, in choosing a single-family home for your Saint George rental, you will lose some benefits that come with living within a multifamily rental property. These benefits include things like access to a community pool, clubhouse, or fitness center, as well as added security on site in parking lots and communal areas.

It is important to keep in mind that there is likely to be quite a cost difference in renting a stand-alone property vs. an apartment or condominium. It is more expensive for landlords to maintain properties at a variety of different locations, instead of all in one place. It is also more expensive to maintain the lawn, landscaping, and exterior of a stand-alone home. Those things are generally covered within a reasonable standard fee at multi-family units. These costs, as well as the size and amenities of the home, will be reflected in the rental amount charged to you as the tenant.

All things considered, a single-family home may be the perfect choice for your family, depending on your financial situation and family size. You are likely to find a greater feeling of hominess and permanence in a rental home, and you may find the desire to remain in the home for a long time. This can be a great step to rebuilding your credit before purchasing your own home in the future. As a tenant that wants to stay a while and take care of a stand-alone home as thought it were your own, you will make an ideal tenant for any landlord.

single-family home

Should I Rent a Single-Family Home?

Single-Family Home

HolidayResortRealty.com