Do you know that people are rapidly investing in gold and properties? People are hoping that the value of home will appreciate. Well, with due respect to the people’s investment capability and their hope, it is better to buy a duplex. As a homeowner, you need to know the advantages and disadvantages of a duplex apartment.
They are as follows:
Advantages:
1. If you have taken a loan or on the basis of mortgage bought a duplex, then you can give one part of the flat on rent. Like this you can collect rent and pay off the loan or mortgage. There is also a provision for clearing the amount by making your payment double than what the settled EMI is.
2. The duplex are quite affordable. If you have a shoe string budget, then you can go for duplex. Plus you also receive a handsome rental income.
3. If you own a duplex, it means that you can let some of your family member stay with you. This will be a great contribution on your part towards your family. You can keep them close to you and have healthy living.
Disadvantages:
1. Tenant and Landlords often do not gel well. As a result of which you can face a number of headaches, complaints and requests. To limit the above things, you need to keep up certain rules and regulations and strictly ask your tenants to follow them.
2. Tenants, the very word is reflective of impermanence. In fact tenants are temporary residents in your house. As a result, for how long you will get the rental income from your tenants is never certain. Therefore, it is important to choose your tenant wisely.
3. Another disadvantage of duplex is that you will have to undertake supervise all the major and minor repair work by yourself. Therefore, it is very important to think before you invest in a duplex apartment.
Thus, we see how a duplex has various advantages and disadvantages. Nowadays many go down are also available with duplex apartments that helps to store those things which you do not want to keep in the house. Despite everything, you will love to live in a duplex. If you choose to take a plunge, then analyze all the aspects. This includes choosing the rightful company, weighing the prices and many other things. If you take a bank loan, then be sure that you have enough provision to pay the EMI. Your investment in such things is worth the amount and the happiness that follows.