Designing Elements that Make Duplex Flat a Worthy Investment

When most people think of buying their first dream home, they look for designs that are stylish and trendy from the architectural point of view. At the same time, they look for the ones that can earn them long-term benefits. Buying a home involves investing a lump sum amount of money. Therefore, if you are planning to invest in a property, you must take into account the benefits that you can achieve in the long run.

Generally, your mind roams around three options when it comes to buying a home - townhouse, single family home and a condo. However, there is another option as well that can serve both the purpose. Well, that’s the duplex home. Owning a duplex has certain advantages. They include offering you ownership of the home along with mortgage and tax credits. Moreover, if you rent out a floor, the tenants can help you pay the mortgage.

If you want to know why duplex can be the hot new home, here the reasons are:

What Qualifies as a Duplex?

While some people are acquainted with the concept, a majority of the people might wonder about what is a duplex home? Well, modern duplex designs in Sydney typically imply a residence meant for a single family built with two floors. Although it comes with a dual floor structure, there is a single kitchen and dining space. More or less, it resembles a villa, but the size is comparatively small.  

3 Potential Reasons Why Your First Home Should be A Duplex

Owning a property is not something to be taken lightly, as it involves years of your savings. Therefore, you should opt for an option where you can reside with your family and rent out a portion that can earn you a fixed monthly income, especially if you are on the verge of retirement. So it gives you a two-pronged benefit.

Here are the top 3 reasons why it is wise to invest in a duplex home.

• Fixed Rental Income: The main reason that has propelled the demand for a luxury home designer in Sydney is that a duplex home is ideal for fetching a monthly income. While you invest a significant share of your savings to buy a single family home, you can let out a floor on rent to offset those expenses.

Moreover, the rent of a duplex is significantly higher, compared to any other apartment. This is because it is a single-family home entirely separated by a floor, with a front and backyard and a driveway that lure tenants to choose duplex flats.

• Avail Tax Benefits: You might be aware that you can avail tax write-off when you buy a new home in Sydney. You can avail the option of deducting the mortgage interest that you pay. If you buy a duplex and live in one floor, you can write off only that floor. If you rent out the other floor, you can get additional write-offs as well. Moreover, you can write off all costs such as the fees accrued to rent the floor or even managing the property.

• Get Mortgage Advantages: With a duplex, mortgage companies in Sydney consider the two units as one property and thereby you can be eligible for lower interest rates if you occupy any one of the units. Also, if you plan to rent out the other unit, you might also qualify for a larger mortgage. Therefore, it is better to consult a renovation architect in Sydney and plan your home strategically.

After knowing the host of benefits, hope you will make no other choice than invest in a duplex home. If you want assistance in designing your home, you can always contact the architect designers for affordable help.

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Created on Jun 6th 2019 05:19. Viewed 274 times.

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