Who Should Buy A Duplex?
A duplex is the best choice of investment if you are interested in building equity while securing rental income besides other benefits.
Benefits Of A Duplex
- Rental Income: Duplexes have great potential as rental properties. So, if extra income is a priority, duplexes are worth your investment. However, it is important to familiarize yourself with the local laws of renting out property.
- More Options: Duplexes are best-suited for anyone looking for versatility and flexibility. For example, if you want additional space for your work, accommodation for elderly family members or even to function as a guest house, you should consider investing in a duplex. There are limitless options to what you can do if you own a duplex.
- Affordability: Those interested in owning property at an affordable price, should consider investing in a duplex. They offer top-notch facilities and amenities, privacy, space and much more at reasonable prices. Investing in a duplex offers you the best of both worlds i.e. single house benefits and affordability.
- Mortgage Benefits: Opt for a duplex if you want a reduction on your monthly mortgage expenses. Income earned by renting out a duplex can be used to pay off a part of your mortgage expenses.
- Excellent Resale Value: If reselling property is your ultimate goal, you will be glad to know that duplexes enjoy a high resale value. Most buyers are willing to shell out attractive amounts in exchange for duplexes.
- Privacy: If privacy is an important consideration for you, a duplex is the right choice. In addition to all the benefits mentioned above e.g. good neighborhood, extra income, resale value, etc., duplexes offer great privacy. In fact, staying in a duplex is akin to living in a single home with all the utilities, amenities and facilities devoid of any interference whatsoever.