Calgary is the biggest city in Alberta and one of the wealthiest in Canada. Being at the heart of Canada's oil industry, which is estimated to have oil reserves second only to that of Saudi Arabia, it has one of the highest average salaries and the lowest unemployment rate in Canada. This makes the city a magnet for businesses and people looking for employment opportunities. Naturally, housing prices here are among the highest in Canada and growing every year. One area with the highest and fastest return on your investment is the Calgary infill home market.
To accommodate a rapidly growing urban population, the city of Calgary has relaxed the housing rules to allow the construction of infill homes in underutilized areas inside the city. Builders are seizing the opportunity to build duplex and fourplex homes in the limited lands available to them. On their part, homebuyers and investors have been grabbing the infill homes like hot cakes because of their money making potential.
A duplex is a house with two separate units inside it. From the outside, it looks like a single family home. But on closer look, each unit has its own front door, backdoor and patio. The two units may be separated by either a wall or a floor. There are basically three duplex designs. The first is a one-story duplex with each unit occupying one half of the building; the second is a two-story duplex with one unit on each floor; and the third is a two-story duplex with each two-story unit occupying one half of the building.
A Calgary infill fourplex is a house with four separate units inside it. Like the duplex, its outward appearance is that of a single home, but each unit is a complete living space. Basically, there are three fourplex designs. The first is a one-story fourplex with each unit occupying a quarter of the building; the second is a four-story fourplex with a unit on each floor; and the third is a four-story fourplex with two two-story units on the ground floor (and first floor) and two two-story units on the second floor (and third floor).
The primary reason duplex and fourplex are so attractive is that you get two or four living spaces for the price. This makes it better than buying a single family home or a condo if you’re interested in an investment property. Another reason is their location in the inner city where opportunities for business and employment are plentiful, which makes them much sought after by tenants. Because duplexes and fourplexes provide privacy as well as offering the opportunity to socialize with neighbors, they are popular with homeowners and tenants of every age group and social background.
Duplex and fourplex homes in Calgary are great investment properties not only because of rental opportunities, but also because of the rapid appreciation in value. At the rate home prices are rising in Calgary, you can make a huge return on your investment in just a year. In a rapidly expanding city like Calgary, you will never languish for want of a buyer willing to pay your asking price. So invest your money in Calgary infills today and sit back while your money works for you.