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OWNER-OCCUPY: A
duplex home purchase can be
appealing to an owner-occupant buyer
who would want to live in one side
of the duplex and rent out the other
apartment!
Read more in the article:
Should Your First "House" be a
Duplex?
FOR INVESTMENT: A
duplex home purchase can also be
appealing to an investor who uses
both sides of the property for
rental income! The investor
can manage the property
himself/herself or hire a
professional management company to
manage the rental and upkeep on the
property.
Owning a duplex can provide many
advantages including:
1. Duplex
owners
can use the rental income from one
or both apartments to help pay for
the mortgage cost of the property.
2.
Duplex owners can gain equity
appreciation on the
duplex.
3.
Duplex owners can deduct mortgage
interest and taxes from income tax
liability!
4.
Duplex owner occupant buyers have
more privacy and usually a larger
yard than found in apartment
buildings!
5.
Duplex owner occupant buyers own
their apartment -- so they can
paint, paper and decorate their
apartment to make it their own!
6.
Duplex owner occupant buyers, by
their proximity to the rented
apartment, can carefully supervise
the tenants to ensure that the
property is properly cared for and
it is easy for the owners to collect
rent and complete needed repairs.
Buying a duplex for either an
owner occupant or an investor
will come with some of the same
responsibilities as buying a house
... yard work, maintenance, and
repairs. If the duplex owner
rents one side of the duplex --
he/she becomes a landlord -- with
all the responsibilities of a
landlord.
Buying a duplex has many tax and
appreciation advantages for both an
owner occupant buyer or an investor!
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