If you’re building your home, you might not want to build a single property. Building a duplex might be a much better investment for you.
Read on if you want to learn more about the kind of advantages the duplex can offer.
It Can Be A Source Of Income
If you build a duplex, you can start renting out the other half of the property as soon as you move in. You’ll be able to start making money off of your home from the moment it’s finished.
A lot of people love living in a duplex. It offers many of the benefits of house ownership but has much lower costs. Because of this, it should be easy for you to find tenants for the other half of your place.
Passive income streams can help you to achieve financial security. In some cases, the money you make from your tenant may wind up covering your monthly mortgage payments.
It Gives You Flexibility
If you decide you don’t want to live in your half of the duplex anymore, you won’t have to sell. Instead, you can move out and collect rent from both halves of the property. You’ll be able to increase your income even more.
When you build a single family home, you’ll probably have to sell it if you want to move. When you have a duplex on your hands, there are far more options available to you.
It Can Fit On A Narrow Lot
You don’t need a big lot if you want to build a duplex. A lot of duplexes are expertly designed. They use every inch of a lot efficiently, allowing you to fit two homes on a single lot. Also, both halves of the property should have some yard space.
Even if you’ve only managed to secure a small patch of land, you should be able to build a duplex. Take a look at some floor plans and see if you can find something that makes sense for you. You should be able to find plans for a duplex that will work on your lot.
You Can Maintain Your Privacy
A lot of people are reluctant to have roommates or take in tenants because they value their privacy. The money that they would get from a tenant isn’t worth what they would have to give up.
Thankfully, if you build a duplex, you can hold onto your privacy. You won’t ever have to deal with your next door neighbor if you don’t want to. Your half of the duplex will belong to you and you alone. You’ll be able to get plenty of privacy if you need it.
The benefits of building a duplex are hard to deny. If you’ve been thinking about building a new home, don’t just look at floor plans for single family properties. Look into duplexes as well. Once you see what a duplex can offer you, you’ll want to find a duplex builder to construct one of your own.