Many homeowners find owning duplex appealing. Duplex are residential buildings that can cater to two hosts or tenants at a time. In the real estate market, duplex is noted for its strong value and rental yields. Duplex basically features two homes that are separated by a common central wall.
There are people who bought two units at the same time for investment purposes. The title should be separated in case the owner wants to sell it again. It is common courtesy for both owners and neighbors sharing a duplex house to agree on a building insurance policy. There are different builders out there that offer different types of duplex houses. To choose, check www.renovateplans.com.au.
According to experts, many homeowners are now exploring being a landlord with the help of duplex structures. Buying a duplex home has indeed enormous benefits. Benefits include:
•It is cheap: You have to know that duplexes are cheaper compared to other types of
houses. In fact, it is about half the price of a single-family home. The good news is that duplex is not associated with body corporate fees compared to owning an apartment.
- It is located in premium areas: If you consider single family homes located in premium areas, you will surely find it very expensive. If you are thinking about duplex, its cheaper cost will allow you to own one even if it is in a premium area. You can still afford it at the end of the day.
- It offers the benefits of a house: Regardless of the size or area of the duplex, it is basically a fully functional house. It offers enough space for the backyard, bedroom, toilet, living room, dining room, and kitchen.
- It is low maintenance: If you have a small house, the maintenance is not too much. If you only own one duplex, the other neighbor will share the expenses for upkeep and other maintenance for common areas. If you are a landlord, the cost of the rent should be enough to keep the houses in good condition.
- Its value will increase: If you buy a house, it is for sure that the value will increase over time.
- Security: Having a neighbor close by can help when it comes to security. It won’t hurt you to utilize more pair of eyes in terms of being vigilant.
- Only one neighbor: If you choose to live in apartments, you will be forced to share different things with other residents. If you live in a duplex, you only have one neighbor to worry about.
With these things, you will think that a duplex is right for you. However, if it is not your personal taste and desire, you should think of other options. The important thing here is you are happy with whatever you decide on. There are other types of home you can consider and if it is within your budget, there is nothing wrong in choosing a single family home. When looking, make sure to enjoy the process. Seek out a real estate agent to help you.