Multi-family housing can come in many forms in the real estate industry. We are going to discuss one form in particular, the duplex. There are several reasons you may want to live in, or own one.
A duplex essentially has one foundation with one structure but it has a wall separating it into two separate units.
If you are considering a move into a duplex, it may be a great alternative to an apartment. You will only share one wall and you won’t have someone living below you or above you. If you have pets, or a family, you’ll be happy to know most duplexes have yards. There are definitely some benefits to choosing duplex life over apartment style living.
If you are interested in investing in a duplex, there are several perks to this as well. You could collect rent from two families rather than one. This could help you to pay off the loan faster. It could also keep you from going into the red if one family isn’t able to make their rent payment on time, or suddenly needs to move out. In addition, you always have the option of living in one side and renting out the other!
When looking to invest, multi-family homes may be a good move for you. Want to talk about it? Call me, Jill Bell, at 479.799.3023.