The terminology of real estate can get confusing when looking to shift to a new apartment. People will hear about efficiency apartments, multi-family complexes, single apartments, and everything else in between. A duplex home is getting immense recognition from savvy-landlords and extended or close families.
Features of a Duplex Home
A duplex often confused with that of a twin home is a two-family house. This layout essentially is two units in one building. Its configuration can be one on top of another or side by side. Some of its features comprise,
- Both units have separate entrances and typically have the same square footage.
- They are classified as a duplex when two units are present on a single lot with a common wall. Hence, people that own a duplex home own two homes.
- Giving out individual units on rent can save one on mortgage expenses that will appeal to the budding landlord.
A Sneak Peek on Different Types
A duplex home is a kind of family home which has two units in one building. It has two different entry and exit points. These homes are of five types, namely,
One above Another
Here, one floor will be stacked above another. The guest will enter the lobby and from there proceed towards the first floor. It will comprise a storeroom, kitchen, a big hall, washroom, and a guest room. The floor will have a separate entrance. The owner can earn an additional sum by giving the other floor on rent. This way, two families can stay together as there are two separate entry points and exit points, which means complete privacy and independence. One above another duplex is costly, luxurious, comfortable, and an all-time favorite.
Side by Side
There is another type of duplex side by side, yet still a duplex. They are together and not separate entities. These houses are highly-priced. As opposed to one above another type, it occupies double space. Side by side duplex homes is extremely comfortable as people will not have to climb stairs. It is highly preferred by physically disabled, ill, and older people. The best part, they appear spacious as the front portion of the home has vast space.
Ranch Style
Ranch-style duplexes are mostly found in high earthquake zones and high altitudes. This style is simple to construct and manage. It does not need stairs owing to the low ceiling and comes in huge sizes horizontally.
Single Storey
This style of the duplex can be constructed where there is enough space. Here the single story is connected to more than a single house. Every room and common area from the inside is connected.
Mansion Style
This style has good value and is equipped with modern amenities. A modern look with high ceilings and high windows are its key characters.
Duplex vs. Two-Storey House
Although a duplex house is a two-storeyed structure yet not every two-story house is a duplex. The floors in a duplex are connected with a staircase, but a two-storeyed building can be independent of one another, and they may be connected or may not. To know more about duplexes, contact My Friend Fernando Calgary.
Why Choose a Duplex Home?
A duplex house has become increasingly popular for the different alluring features and plethora of benefits that it offers residents. Below are the real perks of choosing a duplex house,
Desirable Location
First and foremost, people, today can choose a duplex home in a desirable location. Since there are two units in a single slot, one portion can be given on rent, thus reducing the living expenses. This way, people can enjoy a good neighborhood at pocket-friendly prices.
Growing Popularity
In comparison to efficient apartments and studios, duplex houses have gained more recognition. This is true in places such as Calgary.
Shared Maintenance Costs
A duplex will pave the way for shared costs between the landlord and their tenants. Such costs can comprise things such as yard work, garage clean-up, living area maintenance, or any renovations for that matter on shared spaces. Splitting the cost of such expenses will save the homeowner a good amount of money.
Live Adjacent to Neighbours
If one looks for a place to share it with family members or friends, giving a part of the duplex on rent will be an ideal choice. The walls will separate every living space; thus, one will still enjoy their privacy and independence. Since one will be below or above another or side by side, both neighbors can be close.
Scope for Additional Income
When one gives a part of their duplex on rent or uses it in the form of office space, they can enjoy some additional income scope. This will be extremely beneficial if the house is purchased on loan, as they can utilize the rent, they collect for repaying the loan. As both the units will be equipped with separate entrances, bathrooms, and kitchens, a duplex will have good resale value and also appreciate at a quicker pace.
Positive Reselling Value
A duplex makes an excellent real estate investment. Owing to the thriving rental market in Calgary, people will come across investors interested in purchasing one’s duplex house should they plan to sell it in the near future. The improvements they make on the property and also its age and location will have a huge effect on the resale value.
Disabled or Elderly Family Members
If one has disabled or elderly grandparents or parents who do not desire to move to a nursing home, investing in a duplex house will act as a savior. This way, they can uphold their independence while staying close to them when they need it.
Conclusion
A duplex home is ideal for people that want to earn an additional income or for extended families. Most people invest in duplex homes to reap the perks of two homes on a single block of land. To buy a property is a big financial decision. Thus, one should make the right choice through the assistance of real estate experts.
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