Multiplex construction projects: where to start ?
21 June 2022
An aging population and the buildings that make up urban areas are, among many factors, aspects that have led to the growth of multi-family construction (also known as multiunit, multiplex, construction) in recent years.
A multiunit building is any residential building that has more than one rental unit. Investing in a multi-unit building is a great way to build an asset while earning passive income !
Are you considering a multiplex building project ? Talk to us about it !
Choosing the type of building
What type of building are you planning to build ? -Plex, multiplex… Several options are available to you when developing your multiunit construction project !
First of all, it’s important to know that the processes and rules surrounding a multiplex project of five apartments or more differ from those surrounding a building project of four units or less.
Secondly, depending on the amount of land available to you and your objectives, you can choose from the following types of buildings:
- Duplex : 2 unit building
- Triplex : Building with 3 units
- Multiplex : Building with more than 3 units
Advantages of multiunit construction
Obviously, by superimposing and juxtaposing housing spaces, the required exterior surface is minimized. Savings can therefore be made on various levels such as:
- Exterior cladding
- Energy costs
Optimizing the use of land space
Multiplex construction also brings together several individual residences on a single lot. This enables multiple residents to occupy the same area.
With the appreciation of land values, this is certainly an advantage in optimizing housing costs ! By building more housing units in a smaller area, we are able to increase the value of our investments.
Multiunit construction for investors or property management companies
As an investor or investment firm, we understand that you may be tempted to set up your own multi-family construction project. Trust in the real specialists who can take care of your project, from its development to its execution, down to the smallest detail !
SPACIA assures you the best use of the money invested. We have been working with solid and reliable partners for many years ! The choices we will make with your collaboration will guarantee greater quality, durability, and a greater return on your investment.
Multi-family construction for individuals who wish to live there
Getting into real estate is usually a wise personal investment. Why not make your living space a way to generate income and lower your housing costs ? Building a multiunit residential building to live in is an exciting residential project that can pay off big time !
While living in a single-family home has its advantages, the multi-family model is also worth considering. By living in a multi-family home, the owner can spread the cost of his mortgage by having more leeway thanks to the income from renting.
Also, since the pandemic, more and more people are looking for multi-generational housing plans or even to build new buildings to live in with their loved ones ! Living this way offers many advantages, such as strengthening family ties, the possibility of helping a loved one in need, savings, sharing of tasks… It can also counteract isolation, a much sought-after aspect in times of pandemic. The multigenerational house offers a solution to many issues !
We can build the multi-residential building of your dreams, with all the features you’re looking for. Our team works with great professionalism and a constant concern to build durable and practical buildings that allow you to quickly get a return on your investment.
A housing crisis is currently weighing on not only the major urban centers of Montreal and Quebec City, but also on several cities located in the regions. According to the latest report from the Canada Mortgage and Housing Corporation (CMHC), the vacancy rate is even less than 1% in some areas.
In fact, there is a serious housing shortage across the country. According to the Association des professionnels de la construction et de l’habitation du Québec (APCHQ), there is currently a shortage of nearly 100,000 housing units in Quebec to meet the population’s demand. This is in fact the main cause of the real estate difficulties of the last few years. Added to this is, a labor shortage in almost all sectors, a pandemic that is dragging on, tense supply chains, more expensive materials, and the highest inflation in 30 years.
So, “The more we build, the better it will be for the market, says Guillaume Houle, public affairs manager and spokesperson for the Association de la construction du Québec (ACQ). We will reduce the cost of housing, because the more we build, the more prices will drop.”
Choosing SPACIA’s turnkey service
There are several advantages to turnkey construction: respecting the budget and deadlines, better management of the construction site and cost reduction through ideas and solutions proposed during the development of the plans. We can build according to your plans and on your land. In addition, we always partner with the best subcontractors to ensure flawless work.
Whatever type of multiplex you’re planning to build, we can take charge of your project, from its conception to its completion. Doing business with SPACIA means adding value to your real estate projects compared to their construction costs !
Do you have a multiplex construction project in mind ? Get a free estimate.
The best building contractors are not easy to find. Not only LIRE LA SUITE