Are There Any Drawbacks To Building A Duplex Home?
In the current real estate market, everyone is trying to do what they can to get the most out of their investments. That might mean building on smaller parcels of land, or it may mean leasing out the property for a little while to help get the mortgage down. For some, the volatile market has led to an increased interest in duplex homes, and it's not hard to see why. A duplex home allows an owner to build themselves a home while still getting rent income from the land, or can they provide family with a cheap place to stay without needing to cramp everyone into one house. However, that doesn't mean it's all positive, because there are a few things to consider before you sign on the dotted line. Thankfully, that's something we can help you with.
It's A Bigger Home, And That Means It's Going To Cost More
If you build a duplex that has two bedrooms in each side, you've essentially built a more complicated four-bedroom home, because there'll also be a second kitchen, potentially as many as two more showers, bathrooms, and toilets, and a second garage. Logically, all of these extra rooms, services, and connections are going to cost you more, so it's important to remember that when you consider how much of your mortgage your rental income will be able to offset.
Lessors Have Obligations Which Have To Be Met
When something breaks in your own home, you might decide to ignore it for a while for a number of reasons. Maybe you need to save up a bit of money to fix the problem, or maybe you'd like to shop around for various solutions. When something breaks in your tenants home, you don't have that luxury. You have obligations to that tenant that you need to meet, including having problems repaired within a set amount of time. As a result, you might find yourself spending a lot of time learning basic DIY skills if you can't afford to call a professional, where applicable – of course, some things, like plumbing, demand by law that you call a qualified individual, which can quickly become expensive.
You're Going To Have House Guests, And That's Not For Everyone
With the proximity of a duplex home, inviting in tenants is not as simple as it is with a stand-alone property. While tenants of a stand-alone property may damage your house, that's about the worst they can do. Living next door to you, those same tenants can also decrease your quality of life if they're loud, intrusive, or generally difficult to live with. The walls of your home can only do so much to block out anything obnoxiously intrusive.
It's Not All Bad, Either
At the end of the day, the decision is yours to make. If a duplex home sounds like something you'd be interested in, you'll need an expert in residential drafting, such as Go Design Solutions, to help you create the plans for a fantastic home. 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.