You might not have thought that a duplex could ever make it into the top three homes you would want to own and live in – next to a beachside villa, a chic city pad, and a remote cottage in the woods, who would want anything else? However, the duplex concept is making a strong comeback in the modern world, bearing with it numerous advantages for the owner, whether you are planning on living in one of the units, or taking on the real estate market by storm. Here are just some of the perks of living in a modern duplex and why the rewards can be life-changing.
Living in one, rent the other
Who wouldn’t want to make a decent buck on the side without having to move a finger or worry too much about the sustainability of their side gig? This is one of the areas where owning and living in a duplex home truly shines, as it gives you the opportunity to rent the other half of the property to tenants while being physically present to deal with any issues that may suddenly arise.
Another great idea is to convert the other side of the duplex into a vacation rental instead of renting it to long-term tenants. Why might you ask? Because vacation rentals are extremely popular with online platforms such as Airbnb where prospective travelers are constantly looking for a great deal on a full-size home for their short-term stay. The best part is that you can increase the rent for short-term renters instead of keeping it the same for
The second unit can serve a multitude of purposes
Living in a duplex has many advantages, of which bringing the office nearer to you and establishing your business right next door is one of the more predominant benefits. In case you don’t need to go to the office every day, or if you’re thinking about starting your own business venture, you can simply convert or even purpose-built the other half with the help from genuine pros, as these modern home builders from Sydney, and create an amazing home office space or a workshop. With numerous possibilities available, the other half of the property can also serve a multitude of non-work-related purposes.
An excellent way to keep family members close
Life is full of unexpected scenarios that require careful planning and consideration. In case some of your family members are looking for a place to stay, or if a family member requires care and looking after, you can
accommodate them in the adjacent home without having to adapt your own living environment or change your daily habits.
Alternatively, having a duplex home is excellent for giving your growing children the freedom and independence they yearn for without actually having to let them out of your sights. This is especially beneficial to
parents who have young teens that demand their freedom but are not quite old enough to take it. This way, you are keeping the peace in the family and giving them what they need.
Maximising land potential
A duplex allows you to maximise the value of the property and generate twice the ROI than if you were building a single home on the same-sized block. Getting two for the price of one is never a bad deal, and you can effectuate these benefits by renting both homes if need be. Alternatively, simply living in one and renting out the other half will allow you to produce a positive return on investment.
There are plenty of residential options in the modern world, of which the duplex design does not enjoy the recognition and praise it deserves. With these awesome perks in mind, you can consider making the duplex concept your preferred home design that will help you pave the road to a happy and thriving future.