In today’s buyer’s blueprint, we will be exploring the key differences between a single-family home and a duplex to help you choose the right home that best fits your needs.
- What is a single-family home?
- What is a duplex?
- What costs more: a single-family or duplex home?
- What is a party wall?
- What type of home is a better investment overall, a single-family or duplex home?
- Can I still receive the first-time home buyers GST Rebate if I purchase a single-family home or duplex home?
What is a Single Family Home?
A single-family home is defined as a freestanding home on a lot that is separate from other homes. Typically, there are two types of single-family homes: attached garage homes, also known as front drive homes, or detached garage homes, also known as laned homes.
At New Era, our single-family front attached or front drive homes start from the low 500’s and are within the range of 1700- 3000 square feet. We offer over 20 different single-family floorplans, including bungalow and 2-story styles, allowing buyers to pick a plan that best suits their lifestyle.
What is a Duplex?
A duplex is defined as one unit with 2 self-contained separate units that share one party wall, also known as “semi-detached homes”. Each unit has its own private entrance, utilities, and living space.
At New Era, our duplex homes start from the low 400’s and typically range from 1500 to 1800 square feet. We currently offer 4 duplex 2-story floor plans.
What costs more: Single-family or duplex?
Cost is an important factor when purchasing a home; duplex homes are more affordable than single-family homes.
Because duplex homes share a wall and are typically built on smaller lots (generally 20–22 ft pocket lots), land costs are reduced. As a result, buyers often see a noticeable price difference of approximately $50,000–$80,000 when comparing a duplex to a single-family home.
What is a party wall?
A party wall is a shared wall that separates the two properties. In other words, it is the wall shared with your neighbour. This wall is jointly owned by both homeowners and is constructed with enhanced soundproofing and fire-rated assemblies to meet safety, privacy, and building code requirements.
What type of home is a better investment overall, a single-family or a duplex home?
Purchasing a home is one of the largest investments individuals make in their lifetime. It’s important to understand which type of home may be a better investment overall — a single-family home or a duplex.
This really depends on the homebuyer and what is most important to them. It’s difficult to say that one type of home is a better investment than the other, as there are many determining factors.
When looking at resale value, single-family homes tend to have stronger resale and appreciation value since they are larger units and generally appreciate more over time. However, duplex homes often sell faster, as they are typically more affordable than single-family homes.
In terms of maintenance costs, single-family homes usually cost more to maintain since the yards are larger and any structural repairs, such as roof replacement, are solely the responsibility of the homeowner. In a duplex, certain structural repairs, such as roof shingles, are typically a shared responsibility between the two homeowners.
Can I still receive the first-time home buyer’s GST Rebate if I purchase a single-family home or duplex?
To qualify for the First-Time Home Buyers GST Rebate, at least one of the purchasers must be a “first-time home buyer” acquiring the new home as their primary place of residence. That individual must also be the first person to occupy the home as a place of residence.
The FTHB GST Rebate would generally be available if:
- The agreement of purchase and sale is entered into with the builder on or after May 27, 2025 and before 2031; and
- Construction of the home begins before 2031, and the home is substantially completed before 2036.
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