Multifamily Housing: Why Seek the Help of a Professional Contractor?

According to data published on housingwire.com, the housing industry in the U.S. saw a growth of 6.3% in September 2014, just after a 14.4% plunge the previous month. While this growth is not enough to make up for lost ground, it is enough for a new start. What’s surprising is that almost all of the gains in one month consisted of multifamily properties, as opposed to single-family homes. It seems that the multi family renovation industry is riding high these days in the U.S.

Sales volume is at an all-time high and so are the profits!
Based on data reported by the Federal Reserve, banks funded 82.5 cents of every dollar on the net money loaned for all multifamily projects since the start of 2013. No other bank loan category has seen such fast growth over a short period of time. Moreover, according to americanbanker.com, multifamily housing loans make up 3.5% of all outstanding bank loans.

What’s Behind this Multifamily Surge?
A big reason was the housing crisis which caused millions of families to leave their single-family homes in order to occupy multi-family units. Moreover, the millennial generation has shown more interest in living in apartments, as opposed to older generations.

Taking Advantage of the Multifamily Market
We know that the trend of multifamily housing will only rise in the coming times. So, for those who want to turn their residential properties into multi-family properties, there is no better time than this. Getting a loan from the bank is as easy as finding the right tenant or buyer.

Transforming your existing property into a multi-family property on your own is difficult; especially when you are expecting a high return. Hiring a contractor to repair the roof, add a room or merge two rooms together is just half of what needs to be done. Just the basics won’t cut it, especially when there are so many beautiful and well-built houses in the neighborhood.

So, what is it that will greatly add to the value of your house?
Professional Help.
It is easy to find professional renovation contractors nowadays with the help of the internet. If you have residential property in Austin, Texas, then there is good news for you! There are a number of professional remodeling contractors in Austin, TX who specialize in multifamily property renovation projects. Here’s why you should hire a professional:

• Somebody with dedicated experience in multifamily property renovation will come up with better ideas
• An expert will have more knowledge of what’s working well in the industry
• Construction work will be smooth and less time consuming

Whether you have already decided to turn your property into a multifamily property or have plans to in the near future, make sure that you seek the services of a professional to get the job done right.

Always remember that today’s investment is a future reward, especially when we see the rising trend of multifamily housing.