Norwich has seen a boom of multi-family home sales in the last 18 months. There have been 121 sales in the last 18 months alone- that means one sold every 4.5 days! But why the sudden demand for this type of property? The most frequently cited benefit is that multi Family homes can provide income when the homes additional units are rented even when buyers are living in one of the units. The added potential income of a rental unit can often be used as income when qualifying for a mortgage. Many owners of multi-family homes note lower maintenance costs (vs. owning a separate rental entity)- one roof, one lawn, one sewer, etc.
Are you interested buying or selling your multi-family home? Call or text 860.961.8627 for a one on one consultation.