What Are The Benefits Of Building A Duplex Home?
If you're trying to build a new home right now, odds are, you're probably pretty excited about any opportunity to get more value for your money. With the market moving in such unpredictable ways, something like a duplex property can offer all sorts of benefits that you may not have previously considered.
Your Family Might Find It Helpful
As the years go on, it's becoming more and more common to find families all moving in together on the same property to save money on taxes, mortgages, and rent. With that in mind, you probably don't want to share your home with yourself, your parents, and any other family that might come to mind.
With a duplex property, you can get the best of both worlds. You'll be able to offer your family somewhere to stay without needing to sacrifice your own space for it – simply allow them to stay in the other unit, and everyone will be happy.
You Could Probably Pay Your Mortgage By Renting Out The Other Unit
If you don't want to offer the other unit to family, you could always rent it out to another tenant. By building on your own, you'll be entirely responsible for the mortgage, which means that if you encounter any problems with your money supply, you might find yourself unable to make mortgage payments. Instead, depending on where you've built and the rent market in your area, it's entirely possible that the rent payment will be equal to your mortgage payment, entirely offsetting the cost of your investment. Do that for a couple of decades, and you'll be significantly better off than when you started.
It Pays To Be The Landlord Next Door
There's very little more irritating than trying to explain an issue to a landlord that never seems to want to play up whenever they come to have a look. By living next door to your tenant, you'll not only be able to come immediately to inspect any problems they might be having, it's even possible that you'll have experienced the issue yourself, which means you'll be able to help them get back on their feet in no time at all. Even better, if you fix an issue that affects both yourself and your tenant, the cost of that repair may even become tax deductable, helping you keep the price down.
Are You Interested Yet?
A duplex home can be of benefit to anyone who builds one, but it's important that you design a building that will give both residents privacy from one another. Thankfully, residential drafting is a speciality of our team here at Go Design Solutions thanks to our years of experience working with the local community, and we're more than happy to help you design a duplex home you'll love. To see how we can help you with all drafting in Penshurst, you can check out our portfolio, or call us on (02) 8091 0588.