A duplex is a type of real estate that belongs to the category of houses and is very similar to a townhouse, but differs in that it is adapted to accommodate no more than two families. As a rule, both parts of the duplex have their own separate exit and have 2, sometimes 3, floors. In such a dwelling, only the roof and one common wall are common.
Duplex features
Modern duplexes have several distinguishing features:
- one-piece facade. Regardless of the interior renovation and exterior furnishings, the house looks like one long cottage of two mirrored parts;
- separate entrance to each part of the house. Sometimes they make one common entrance, but the most popular are just two doors on both sides of the house for each of the families;
- two or three floors. The standard layout assumes a two-story building, but sometimes developers make duplexes one floor higher;
- individual metering devices for water, electricity and heating are installed in the sections, that is, apartment owners pay only for their living space;
- a lot of light. As in many private houses, townhouses often have large and panoramic windows. This is due to the desire to reduce the cost of lighting and heating: natural sunlight enters the house from the street.
In addition to the duplex, there are triplexes - houses for three families and quad houses - for four families with corner apartments. More sections turn the building into a townhouse.
Duplex pros
In a cottage, developers offer a much larger living space for a lower price compared to a city apartment. Duplexes are rarely chosen for single use. As a rule, this is an alternative option for a large family, which will cost significantly less than a whole house. The area of a standard duplex is 100-150 sq. m. In the category of elite buildings, there are houses with large areas, but rarely; if you need huge living spaces, it makes sense to think about buying a whole house.
Apart from the opportunity for owners to live in a large house at an adequate price, duplexes have a number of other advantages:
few neighbors. Sometimes people choose apartments on the top floor so as not to hear the noise from the upper apartment. In the duplex, the problem of neighbors is minimized: there is only one family left behind a common wall. And if you initially buy a house in half with friends, the atmosphere will be as comfortable as possible;
the presence of a local area. As a rule, this is a small area, but it is enough to accommodate a garage, outdoor gazebo, playground, flower beds or a place for a barbecue;
infrastructure and ecology. Modern duplexes are often built in already populated areas of the nearest suburb. Thus, future tenants receive not only a developed infrastructure with shops and educational institutions, but also fresh air;
low maintenance cost. If you own a whole cottage, then you fully cover the costs of replacing communications, repairing and restoring facades. In a duplex, all expenses are divided equally into two families;
convenient for delivery. You can buy out both parts - the owner lives in one, and the second is leased to tenants who can be controlled without wasting time.
Cons of duplex
The main disadvantage of a double cottage is that there will be neighbors.
It is not completely private, as if the house belonged only to you. But not a multi-apartment townhouse, and even more so a high-rise building, in which neighbors will be at least from three sides. Many owners prefer to isolate themselves behind a fence and reinforce noise insulation along the adjacent wall. It makes sense to get to know your neighbors before buying a section in order to understand how easy and pleasant it is for you to interact to resolve common issues.
Duplex for sale
Duplex stocks are low and demand remains high. People have their reasons to buy duplexes, but many people are looking for a way to invest in real estate without a big investment. If you buy a duplex as an owner, you may be eligible for an FHA loan. You may be able to bet as little as 3.5%. If you end up renting out the other side to a friend or tenant, you can “share” the burden of paying off the mortgage, but the long-term benefits of owning the property will belong to the owner ... you.
Generally speaking, duplexes offer a better return on investment than single family homes. You will usually have a lower gross rent multiplier for a duplex than for a single family home, so duplexes are also a great way for investors to become landlords. The gross rent multiplier is the duplex's selling price divided by the annual rent. For example, a duplex that sells for $ 360,000 and receives $ 30,000 in annual rent would have a gross rent multiplier of 12.
Cash flow is generally better in duplexes than single family homes. Another advantage of duplexes is that if one tenant leaves, you still have income on the other side.