Skip to main content

Top Reasons to Consider a Duplex Home

People have various options to choose from when it comes to the type of home they would like: a single-family home, a townhouse, a condo, etc. Amongst so many choices, one is, of course, a duplex. Owning a duplex in several countries offers you several perks, mortgage advantages and tax benefits. You can rent out a part of it or put it up for homestay on platforms like Airbnb to earn a handsome amount consistently. The benefits are not limited to just this, we have few more reasons as to why you should consider a duplex home.

Construction Company



  • Mortgage Benefits
If you need help with mortgage, investing in a duplex is a wise decision. It lets you create equity quickly depending on the situation. Let’s say building a duplex costs you $500,000, once it is subdivided, each piece can be sold at $300,000 giving you a profit of $100,000 within a year or two. These extra bucks let you pay your mortgage quickly.
  • Rental Income
You can pay a mortgage not only by selling other parts of the house but also by renting it out. This way duplex gives you a high rate of return. You can rent out one portion to a tenant while you continue to live in another portion. By this not only do you earn money you also live near your property and continue to take care of it. So, if you think that an extra portion will cost you money, think again. The rental income that you generate from it will cover the cost.
  • Source of Cash Flow
From both the above points you must have evaluated that a duplex is a source of income. But there is one more way to generate cash from a duplex and that is by making it available for vacation rental sites such as Airbnb. In other words, generate revenue by way of a homestay. In fact, you might be able to make more money this way than by renting it out the traditional way!
  • Use It for More Than Stay
If you don’t have the burden of a mortgage or you don’t like tenants living next door, a duplex is more than these opportunities. If you work from home, you can make it your workspace. It can be used as a guest house when your family or friends visit you for get-togethers or parties. 
  • Stay Close to Your Family
If you have elder members or your child’s family living with you, they can live right next to you while everyone continues to enjoy their privacy. This way you will stay close to each other and help each other in case of emergencies. You can also provide other kinds of support as and when required and give them some much-needed company. Elderly parents can live with you and the need for a retirement village or nursing home is eliminated.

Furthermore, duplexes are affordable too as they are usually not located in pricey neighbourhoods.

Comments

Popular posts from this blog

New Trends in Kitchen Remodeling You Should Know

Your kitchen is the real working heart and most used part of your home; it is no surprise, therefore, it shows signs of wear and faded appearance sooner than the other parts. That is why kitchen remodels are among the most common of home remodeling projects.
Also your kitchen should be remodeled to acquire two vital features – trouble-free, high utility and refreshing look – both lasting for long and making your time there a pleasant experience. Here are a few new trends that demand your active consideration.
White is always right
Yes, a white kitchen is indeed traditional! But its popularity continues to trend: about 67% of the members of the National Kitchen and Bath Association (NKBA) say that it is their top color choice.
The 2014 ‘Best in American Living Awards’ of the National Association of Home Builders highlighted layering white on white. This means fixing white cabinets on white counter tops with white backsplashes. 
Moreover, white appliances are easy to clean and …

6 Reasons Why You Should Remodel Your Home

Remodeling your home is definitely not an inexpensive proposition, and sure it will cause some disruption in your everyday life for a while. A time will come when you feel you should remodel your home: however, your family may not see eye to eye with you.
It may be hard for you to convince them of the need to do it. Here are six reasons you can put forth to sell the remodel idea to your family, and perhaps even to your own self.

Enhancing market value

Your home is an integral part of the future of your family. Remodeling your home will fix any deterioration that has occurred, and increase its market value as well. Whether you plan to sell it in the near future or not, any increase in its market value is always good.

Incorporating ‘go green’ measures

Utility costs are going to keep increasing forever. ‘Go green’ measures incorporated into the remodel, will reduce your electricity bills significantly.

The following are a few such measures: replacing old windows with energy-effic…

Remodeling Your Home for Sale

If you are thinking of remodeling your home, there is one very important question you have to ask yourself before you begin. Are you remodeling to make the home more comfortable for your family? Or are you remodeling to enhance its value for sale in the future?  The answer is important because it will guide you how to go about it. If it is for future sale, there are five remodels that will give you a good return on your investment when you sell.
The kitchen
The kitchen is the heart of the home and one of the main things that buyers look at. If you are doing it for yourself, go ahead and tear out walls, change the size and shape, move the plumbing and appliances to suit your needs. But if you are doing them all with the sale of the house in mind, spending this amount of money will not get you the returns you want. Instead, have the painting done, and the cabinets replaced or refurbished, put in new lights and veneers and think about linoleum flooring. These will give the k…