Buying a good house is certainly not as easy as it appears from the outside. As a potential buyer, you’d always be spoilt for choices since there will be options galore in the form of single-family homes, townhouses and condos.
On top of that, you’d always prefer to invest in a house that not only epitomizes style and luxury but also upgrades the standard of living in a big way. And the biggest of considerations would be to check whether the property will bring value in the long run, or become high-growth and high-yield real estate investments over time.
But the question is, can there be any property that fits all the bills perfectly?
Well, finding a duplex for sale does… as it comes with many benefits for home buyers. It brings you the dwelling you need and also creates an opportunity for extra income.
And since duplexes come with the added benefit of lower cost and potential rental income, maybe that’s why more families in Canada prefer buying them over traditional flats or apartments.
However, if you’re still not sure why a duplex should be the property you need, you better consult an experienced real estate broker today or read the many benefits listed below and decide on own.
What Is A Duplex?
A duplex house is a specific type of property with two residential units under one roof. It brings you the option to live in one and rent out the other. In essence, a duplex is a multi-family house that’s split between two units with each having a separate entrance. It comes in a variety of combinations of side-by-side or one unit on top of the other with both units interconnected from the inside. Although a duplex building houses two units, it can be owned by a single individual and sometime can also be owned separately as condo.
Reasons Why to Invest on a Duplex
Duplexes for sale are now seen as top property investment options for homebuyers across Canada for many reasons. Some of the reasons include –
Potential rental income
Buying a duplex house makes a perfect sense when you have a potential rental income in mind. These houses will give you the option to live in one unit and rent out the other. And the rental income thus generated can prove a great support in paying out mortgage payments. More importantly, a steady income means your debt-to-income ratio will also improve, bolstering your ability to repay a loan and get good mortgage rates for future properties. Apart from the income, only a duplex house can make you a “landlord living next door” and taking a full care of the property.
Modern and contemporary home
Many home owners wrongly assume that duplexes are outdated types of dwelling. The reality, however, is entirely different as new duplexes in Canada are built on modern concept with unique designs and sizes. Most builders now design these houses keeping in mind the aspirations and expectations of new-age buyers. In fact, the duplexes of modern times strike a perfect balance between old-world charm and new-age elegance. You will easily find them with meticulous planning about the interiors or a proper structural flow for natural lights. In essence, you can now expect a duplex house to look and feel as contemporary as it could get.
The unique structure of a duplex house makes them perfect to meet your varied dwelling needs and choices easily. Whether you’re a party lover or workaholic or a family man, the ample of space in a duplex house can always cater you well. You could always use the other side as a place when family or friends come calling. The other side of a duplex could always serve a space to house elderly parents who need constant care and vigil. So, you can keep the family together with everyone getting the kind of privacy they deserve as well. On top of that, a duplex is a great option for party lovers as you’d always have plenty of spaces for chilling out with friends on special occasions.
Less price, more space and more features
Duplex is just the ideal property for those who want a house that costs less yet provides more space and more feature. It gives you value for money as you can have half a house at half the cost. So, you will pay much less for the same size as a single family home with the same space. Plus, a duplex property may also come with features such as large outdoor yard spaces and basement suites which you won’t get in town homes. On top of that, you get a perfect size house that has more space than a single-family home.
Privacy is surely a huge consideration when people plan to buy a property. After all, why would you invest in a house that does not offer enough privacy? With duplex however, contrary to popular misconception, privacy is never going to be an issue. There won’t be any such issue as modern duplex houses in Canada are built with modern current code requirements in mind. Which means, the party walls are engineered in a way that causes no disruption from neighbours.
Property investment is a big life decision and home buyers should always weigh on the options carefully before taking the plunge. The focus should always be on buying a house that meets all your standards of living and also proves a good resale value. This is where investment in duplex makes sense. It comes good on virtually all the parameters of a property and maybe that’s why Canada is seeing a boom in such houses for sell across the country.