Why more people are opting for multifamily homes in Charlotte

Industry News,

An emerging trend allows people to find their dream homes in some of the most sought-after parts of town. 

Instead of the traditional single-family homes, more people in Charlotte are opting for "multifamily" or "duet-style" homes. "A typical duet-style home... appears from the street as like a single family but there are two sides of it," Kate Terrigno, realtor with CorcoranHM Properties, explained. Terrigno said you can expect to see more of this housing style in Charlotte neighborhoods such as Myers Park, Dilworth and South Park. "I think aesthetically, it's pleasing," she said. "Versus having a ton of townhomes or something like that."

With more people moving to Charlotte, Terrigno said the housing market is becoming tighter. This means people will need to become creative when it comes to finding an affordable home. "It enables you to get into a place in town where prices are skyrocketing," she said. "We're finding it harder and harder and harder to relocate people here as the city grows."

As real estate gets further away from the city, Terrigno said she’s seeing more people purchasing larger acres of land. Some of this land could later be developed into additional homes for friends or family, Terrigno said. She believes the pandemic could be the driving force behind this trend because of changed lifestyles and hybrid work schedules.

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