Flats are not popular options for big families or ones with multiple branches and generations. That’s because they are often associated with small yards and cramped spaces. They are typically ideal for small families or couples. However, what if you invest in two or more adjacent flats? You can ask help from a multifamily lender to rent two flats or a line of them in a compound to accomplish this. This way, you can stay close to your relatives and check on them regularly while securing more than enough privacy for your own.
Flats are often compared unfavorably to houses, but there are a lot of reasons that they are rising in demand. For instance, there are costs and conveniences. Also, there are opportunities present.
Costs
Flats are much cheaper than high-rise apartment units, plots, or lands. Buy them in bulk, and you will get a better chance of receiving some discounts. Another financial perk is their lower outlay, which directly translates into lower risks. Mortgages are more difficult to obtain because of their cost, and their value may even increase when you maintain and update them. Investment-wise, purchasing a flat or a set of flats is cost-efficient, quick, and safe.
Opportunities
Flats attract big and small families alike. Solo tenants, groups of friends, or couples who are still thinking about starting a family can also consider this housing type. Whatever the case, what you have here is something marketable and adaptive. Once you have gotten enough space in your flat to rent out when your child goes to college or a relative decides to live somewhere else, you have the chance to reinvent the look of your space to suit the needs of whoever wants to use it next. Flats have great buyer appeal not only due to their cost but also the level of innovation and creative independence required to maintain it. These do not include the added difficulty of size, which leads us to the next point.
Conveniences
You get enough privacy with flats. You may seem like you’re living with your cousins, uncles, aunts, siblings, and grandparents because of their proximity. However, you have space enough for yourself and your immediate family. You still get to be and live close to your other relatives, and you can know what is going on in their lives and how you can be of help.
But on the other hand, you’re also in your own area, free to decorate and refurbish it whichever way you please. Flats provide the right degree of independence and privacy. The size of it all makes everything convenient to clean, too.
Family time is under-appreciated nowadays, and part of the reason for this is the division caused in our public spaces. Connected flats for us, its occupants, help us reconnect. Your kids will learn to get along with their cousins, and you and your siblings will enjoy a better rapport with each other. All this is because you plunged into the same investment of owning flats.
