The Industrial Revolution from 1760 to 1840 is often considered a major turning point in history that influenced every aspect of daily life in some way. This was due to the fact that the average income and population began to exhibit unprecedented sustained growth. This also resulted in the emergence of new residential structures in the form of a multi family dwelling unit. Here is a quick rundown of what they are and how you can use them.

MDUs and Multifamily Residential

While ADUs (accessory dwelling units) are secondary houses or apartments that share the building lot of larger, primary homes, MDUs (multi-dwelling units) are a bit different. A multi-family residence houses more than one family and they can ideally be built on any multi-family property.

Generally speaking, owners of multi-family lots can acquire various options to build ADUs. This can include the conversion of existing non-livable space into an ADU or the construction of detached ADUs. Multi-family homes are a great choice for those who want to accommodate more than one family living separately.

Types of Multifamily Housing

There are several types of options available when it comes to the construction and layout of multifamily housing. Here are some of the most commonly used styles:

• Apartment Buildings – these are a block of flats or a building with multiple apartments where there can be multiple apartments on each floor and there are often multiple floors. The buildings can range in many sizes with some offering only a few apartments while others having hundreds.
• Condominiums – this offers a form of ownership with individual apartments for everyone as well as co-ownership of common areas. This can include common corridors, hallways, grounds, lobbies, outdoor areas, porches, recreation rooms, rooftops, and stairways.
• Duplexes, Triplexes, and Quadruplexes – duplexes are a two-flat or a building that is commonly built on an edge yard lot. They might consist of two residences or a pair of semi-detached dwellings. Triplexes are similar to duplexes but have a total of 3 units while a quadruplex has 4 units in total.
• Row/Terraced Houses – they are a form of medium-density housing where a row of attached dwellings shares common sidewalls. In the US they can be found in older cities such as Baltimore and Philadelphia often showcasing uniform fronts and uniform heights. They can be identical or not.

The Benefits of Multi-Family Homes

It goes without saying that owning, living, and investing in multi-unit buildings offers one of the best opportunities to increase net operating income as well as inflate the overall property value. Other pros include:

• As mentioned earlier, the property itself can help you earn income through rent from tenants which can offset the cost of your other expenses while freeing you up to use cash for other things as well.
• Plus living close to your rental property offers you the ability to carry out maintenance and repairs more easily. Thus you are able to respond faster when problems arise.
• Moreover, a multi-family home can be an ideal option for a multi-generational family who not only wants to live close to each other but also retain their privacy to some extent.
• Lastly, if you decide to move to a new home, you can still keep the property as an income-producing investment such as renting out your own former unit to tenants who are looking for a living space.

Important Things To Consider

When it comes to building multi-family dwelling units there are however some legal concerns that you should keep an eye out for before investing in them. This is where you should gather up all the general facts such as what your local state laws enable you to do.

Here you have to familiarize yourself with local zoning codes and the number of ADUs that are allowed on your property. There might also be other limitations including height restrictions and other local ordinances as regulations may differ since every jurisdiction has different rules.

Final Word

To sum it all up, multi-family homes are best for those who are either interested in getting into real estate investment or genuinely require living space for their multi-generational families. Moreover, without any doubt for Americans, real estate remains the top choice for long-term investment.

If you are comfortable with the added responsibility and time commitment that comes with being a landlord then multi-family dwelling units can serve to be a smart choice. Furthermore, these properties can serve as a great residential choice for larger families that want to live together while still having their own dedicated space.