It is easy to understand why many families are choosing to live in a duplex. Apart from it being affordable, a duplex can also provide a rental income source, especially for those considering owning one. This makes it perfect for first-time homebuyers, those on a moderate budget and anyone wanting a low-maintenance living environment in a premium location.
Read on and find out if duplex housing style is right for your situation:
Grown Child with an Elderly Parent
Duplex is a practical choice if you have an independent elderly parent who wants to live with you. You will have the option to subdivide your property to provide a secondary dwelling for your loved one. VisiononeProjects.com.au suggests looking at duplex designs to find a layout that will suit your existing property.
If you are a single parent with one or two children, a duplex home style is a good choice. This can provide an adequate living space for you and your growing child at a more affordable cost of living. Many duplexes today are also located in good neighbourhoods, so you can find a good school for your little one.
Young couples and first time homebuyers can do well and get by with a smaller dwelling, like a duplex. This costs less and will free up the much-needed money for your furnishings, cars and others. There are also property developers who can help you build a duplex based on your budget and special requirements.
If you don’t see the need for a big house, you can choose to live in a duplex. Downsizing or giving up a big home can free up some cash that you can put in liquid investments or extra savings. You also have the option to develop or subdivide your property for extra income.
A duplex housing style is also ideal for investment purposes. You may find an advantageous purchase or develop one, live in one of the units and rent out the others. This may work well if you have a relative or a friend you would like to have living nearby.