Hunting for a new place to build your dream home? Tired of clicking through the endless pages of listing to find the best single-family home, condo, or townhouse on the market? Are your sure you’ve explored all the options available to find your new home? What about a duplex home? Most people who are looking for a new home often overlook duplex home, but what they fail to understand is building a duplex home can offer more benefits. Today, some homeowners are hiring duplex builders in Sydney to develop their own duplexes with the exact specifications they want.
What is a Duplex?
A duplex home plan is a contemporary style building with separate entrances on opposite sides of the house and shares a wall. Duplex Home builders in Sydney say that these two-family homes are often indistinguishable from single-family homes at first glance. Here we’ve listed a few reasons that substantiate the point that duplex homes come with some perks.
Generates Additional Cash Flow
Duplex home plans come with a lower price tag and can be built in affordable neighbourhoods. Moreover, they are cheaper than single-family detached homes and offers a lot of flexibility when it comes to the usage of your second unit. You can use it as a residential rental space, or to keep your parents near.
Pay Off Your Mortgage Quickly
As stated earlier, you can rent out the second unit of your duplex home to generate additional income. This helps you to minimise your mortgage payment or pay it off much sooner than you expect. One of the greatest benefits of investing in a duplex is that mortgage companies consider duplex home as a single property and offer lower interest rates to buyers.
When you decide to live in one side of the property and rent out the other, you can reduce half of your mortgage interest, half of your property taxes, and half of any deductible points that you pay. You can include advertising fees, tenant screening fees, repairs that you make, insurance on the unit, and lawn services in a separate write-off.
Multi-generational Family Unit
If you aren’t interested in renting out your property, you can use it to keep your adult children starting a new life nearby to give them a helping hand. Or, you can bring back your aging parents who are independent to make them feel secured. This allows you to check on them daily while still giving them the freedom to live on their own.
Investing in a duplex can be profitable. Your duplex home builders in Sydney will provide you with beautiful duplex home plans that allow you to creatively transform the second unit of your duplex into a rental property or a multi-generational family unit. Talk to our experts now to know more about duplex builders in Sydney prices.