A person in search of a dwelling would usually have many choices. They could turn to a single home or a duplex home for a start. Choosing the latter would mean flexibility in both financial and living aspect, and for investors, a duplex can a good form of investment. Heather Levin in her article shared some advantages and disadvantages of buying a duplex:
Buying a Duplex - Advantages & Disadvantages
Advantages of Owning a Duplex
- You Get Help with Your Mortgage
From a homeowner's perspective, buying a duplex can be especially appealing because you can live in one area of the building and collect rent from the tenants living in the other area of the building. This can help you pay off your mortgage.
- Duplexes Are Affordable
Many duplexes are located in very affordable neighborhoods. If you can't afford the home you want in a pricey neighborhood, a duplex in a less expensive area may put you on the fast track to buying a home.
Disadvantages
- You Live with Your Tenants
If you purchase a duplex and decide to become a landlord, this means you live right next door to your tenants. This can cause many headaches, especially if they knock on your door for help with every little complaint or request. Read full article...
Like any other form of undertaking, choosing or investing on a duplex can make or break your economic goals. That is why it would be best for you to make all the necessary preparations for a better outcome of the huge step you will be making. Whether you will be purchasing or renting a duplex house as your dwelling or buying it for business, individual guidelines and consideration should be done ahead of time to avoid complications. And for you to be guided accurately of your actions, it would be wise to ask the help professional real estate agents.
