Home Buying in Gilbert>Question Details

Miu Miu, Home Buyer in Gilbert, AZ

Single story vs two stories property

Asked by Miu Miu, Gilbert, AZ Wed Oct 9, 2013

Is two stories property harder to rent out? How about the rental price and property appreciation?

Help the community by answering this question:


Based on my experience, there are many people that will ask to see only single-story homes and will not even consider two-story homes. There are much fewer people that will want the opposite - only two-story homes.

Having said that, two-story homes are typically bigger (more sqft) than single-story homes and they allow for a smaller home footprint -> bigger yard.

Single level homes are typically more expensive per sqft than two-story homes. I am selling a community in Avondale where the single story homes are around $90/sqft, while the two-story homes are below $70/sqft.

Now to answer your questions:

1. "Is two stories property harder to rent out?" - Everything else being equal, it is typically easier to rent a single-level home. More people looking for single levels exclusively than two-levels exclusively.

2. "How about the rental price" - because they are more sought after, single levels will typically rent for slightly more than two-levels. However, each neighborhood is different. Ask to see comps for single level and two level homes. They will give you a pretty good idea about rental prices.

3. "and property appreciation?" - that is an interesting question. I haven't seen any analysis on appreciation differences between single and two story homes. My gut tells me that they should be comparable. But I can't back it up with hard data. Sorry!

Bottom line: as long as you buy right, you can make money with both single level or two story homes.

Good luck!

Jose Dias, REALTOR
(623) 418-5700
email: jose at MyFirstHouseAZ.com
website: http://www.MyFirstHouseAZ.com
1 vote Thank Flag Link Thu Oct 10, 2013
All things being equal the single level would likely rent out faster than the two story, the challenge is getting all things equal.

Our Property Management expertise helps define the best properties to purchase and separate the apples from the oranges.
1 vote Thank Flag Link Thu Oct 10, 2013
Here's my take..younger people rent more than older folks so they have no problem with 2 stories but 1 stories generally sell better than 2 stories, but I have investor clients that buy mostly 2 stories and lease them out and they lease out quickly because of their locations. Price & property appreciation will depend on the area, but overall the metro Phx area has seen approx 20% appreciation, more or less depending on location. All the best
1 vote Thank Flag Link Thu Oct 10, 2013
A little on all 3 questions. Generally single stories are more desireable because of stairs. They are more expensive to build, and therefore may rent or appreciate a little more. Some do like 2 stories for mountain views and raised ceilings though.
1 vote Thank Flag Link Thu Oct 10, 2013
In our Florida market we see every day the desirability of single level homes over multiple story without elevators. Seniors just aren't normally interested in dealing with stairs and will avoid them at all costs. So if your rental market is one that consists of a large percentage of older people it may be good to revisit your plan.

Good luck,

1 vote Thank Flag Link Thu Oct 10, 2013
Single stories will cost a bit more as they typically cost more to build (more foundation, roofing material). Folks like single stories for various reasons (no stairs, heat rises so bedrooms upstairs can be warm for sleeping, harder to clean windows, paint, decorate for holidays).

With that said - rentals in Gilbert are in high demand. I have rented out several properties this year and all had accepted tenants within 1-2 weeks from going on the market.

I would be happy to provide a free market analysis for you as well as give you an idea of single story versus two story historical trends. Just send me an email with the property address or subdivision you are thinking about. My email is pattysellsaz@gmail.com
1 vote Thank Flag Link Wed Oct 9, 2013
Yes because you limit your market share some. Some elederly and families with small children will be hesitant to rent because of the stair hazard. You do get more home for your money as most two levels sell for less per square foot. I hope this was help ful.

John McDonald
Homesmart Realty
1 vote Thank Flag Link Wed Oct 9, 2013
It really depends upon your market. If you have families with younger children, they may prefer a 2 story. Some older renters may prefer a single level. Look at the demographics in your area as that could assist you in making a decision.

I handle some condo rentals in the Scottsdale area and have found very little resistance to the second story location. My two story rentals in Chandler and Gilbert present no problem at all.
Flag Sat Oct 26, 2013
Two-story homes, as a rule of thumb, rent for less, sell for less and appreciate for less as many buyers don't want the hassle of the stairs. It's rare to find someone who only wants a two-story (usually it's because the areas has small lots and the two-story has a smaller footprint) but it's not uncommon to find folks looking for a single story.

Miu Miu, if you haven't already, you may want to get with an agent who can help you with all of your questions rather than sending them up to the peanut gallery, particularly if you're looking for something for investment as it seems.
0 votes Thank Flag Link Thu Oct 31, 2013
Not really. Some renters prefer upper level unit because they like the idea of no one above them

Upper units are also viewed as more safe than ground level units. Break end usually occur on ground level unit more so than upper level units.

Kawain Payne, Realtor
0 votes Thank Flag Link Thu Oct 17, 2013
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