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Buying Duplex Vs. Single Family Home: Which is the best investment for you? - YouTube
Channel: Homebuyer's School
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- In this video we talk about single-family
homes versus duplex –which costs more
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– which is the right one to buy.
That's starting right now.
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- Welcome to Homebuyer's School
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brought to you by Brookfield Residential.
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Hi everyone, Karl here and welcome to
another Homebuyer's School video –
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a channel where you get the latest
strategies tactics and tips from home
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buying experts, and remember if this is
your first time on this channel and you
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want to get the latest strategies from the
experts – hit the subscription button
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below, hit the little notification bell
so you don't miss anything. Today I'm
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joined by Jessica McKnabb, area
manager with Brookfield Residential and
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the question we're gonna answer is –
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What is the difference between a single-
family home and a duplex?
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So I guess the first thing is
what makes a house a duplex?
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- So the difference would be a duplex is
where you've got two homes side-by-side
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that are joined by one single wall, and
then a single-family home is a
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standalone home that doesn't enjoin any
other homes.
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- So are duplexes worth more than a
single-family home?
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- They could be.
A duplex could be worth more.
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Sometimes the duplex will have
a double garage, whereas
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the single-family home might be sitting
on a smaller lot and might be a little
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bit smaller.
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- Are duplexes becoming more popular?
—because I'm seeing a lot a lot more.
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- Yeah, historically in this last probably
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three to five years they've become more
popular and that's simply because for
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the square footage of the home you can
get in a duplex, it can be bigger than a
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single-family and your backyard space is
significantly bigger. Usually with a
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single-family that would be comparable
in price to a duplex, you'll have little
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to no backyard and the garage will
actually sit in the back and be detached
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from the home.
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- So do you mean like the duplex—with the
duplex you get a bigger yard.
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- Mm-hmm.
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- But you're sharing it with
somebody else right? Or are the actual
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yards split between
you and your neighbour?
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- Right. Each of the yards will still be split.
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You'll still do a fence line
between you and the neighbor so you
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still get your own backyard but it
typically does have more space because
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the garage sits in the front underneath
the rest of the house.
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- So do you think—what are some of the
reasons why you think builders are going
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towards a lot more duplexes?
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- So it is more efficient to build a duplex.
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You have two units coming up side
by side at the very same time and it's
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more cost-effective, and then for the
buyer you do get more square footage,
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you get more land value.
So it's a win-win situation.
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- But I think one of the cons would be is
that besides from a single-family home is
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that you're right beside I guess, your
neighbour right? There isn't—would
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you say the privacy isn't as much as a
single-family home?
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- Right. That is a thought that a lot of
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people do have as a first-time buyer
coming through but
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when you're looking at let's say our
single-family show home and walking
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through our duplex show home you
actually can't tell the difference. The
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shared wall actually is above some—is
above code and soundproofing and
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fireproofing so they're joining wall
has really come a long way. And then in
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terms of the size of the home for a
duplex you actually get more bang for
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your buck. You get bigger square footage.
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- Now why do you get
bigger square footage for a duplex?
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—Because one would think that
if you're living in a duplex you get
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less square footage than living in a
single-family home.
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- So for the Builder it's more
efficient and more cost effective to
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build the duplex so in turn they can put
more square footage.
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- Okay do you have anything else to add in
terms of the differences between
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a single-family and a duplex?
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- Well with single-family homes nowadays
because of zero lot lines for example or
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even if it you're not on a zero lot line,
the houses are so close together
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anyways so people don't have that worry
about buying a duplex and being so close
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to the neighbor anymore.
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- Perfect, perfect. So the last question I
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have is, which costs more I guess—a
duplex or a single-family?
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- If you're looking at apples to apples in
terms of square footage they could be the
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same. So a single-family home if you're
looking at about 1,400 square foot you
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get a little bit smaller backyard and that'll
be around the 350 thousand mark, and for
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the duplex you're looking at about 1,600
square feet and you get a significantly
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bigger backyard, and then you're still
paying around this you know,
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350–360 mark for the home.
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- Do you have anything else add?
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- No I think we covered everything.
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- Perfect. So the question of the day
I have for you is –
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Does a single-family home or a duplex
home appeal to you and why?
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Let us know in the comment
section below—and remember
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if you enjoyed this video or found it
helpful – hit the thumbs up, remember to
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comment, and remember to subscribe.
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Thank you and we'll catch you next time.
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- That's another edition of
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Homebuyer's School. Tune in next time
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for more expert tips and tricks and visit
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homebuyersschool.ca to bring you one
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step closer to finding your dream home.
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