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Greyson Bell
Greyson Bell

Buy Duplex House


An apartment building consists of five or more independent living spaces with common areas and amenities accessible to everyone in the complex. Like duplexes, apartments have shared walls and floors. However, duplexes are significantly different from apartments because apartment tenants pay rent and never own the apartment. As a result, they have little control over renovations or updates and need landlord approval to make any changes. With this comes less responsibility than duplex owners, as they are not liable for any issues.




buy duplex house



A townhouse is very similar to a duplex, as they are both separate living spaces that share at least one wall with each other. Most townhouses share two walls with a neighbor on each side, while duplex residents typically only share one wall or floor/ceiling. Additionally, townhouse owners often have their own private yard, while duplex owners share common areas, including outdoor space. Both duplexes and townhouses are responsible for property maintenance, but townhouse owners are more likely to be required to adhere to homeowners association fees and guidelines.


Rental income: The fact that you can gain both a primary residence and investment property (or two investment properties) by purchasing a single home is a considerable advantage for first-time home buyers and investors alike. By renting a unit to a tenant, a duplex owner can gain a significant revenue stream that will enable them to pay off their mortgage faster.


Finally, duplex owners can share the property with their loved ones. There are numerous possibilities here, all of which are personal choices. Multigenerational homes are on the rise, with duplexes, triplexes and attached family units (also called accessory dwelling units, or ADUs) being the main facilitators of interdependent living. Duplexes can be great for keeping aging relatives close while everyone maintains their independence.


FHA and VA loans provide qualified borrowers with the ability to put less money down on the home. However, these loan options must be used for primary residences. If you purchase the duplex as an investment property, you will have to make a down payment of at least 25% of the purchase price.


Begin your search for an investor agent by going to Realtor.com, select your city of interest, and filter your search by multi-family property type. You may not find a lot of property, but you may find a great local real estate agent to help you find the perfect duplex to add to your portfolio.


While Realtor.com and Zillow are good options for finding a duplex, the search process is surprisingly cumbersome. You can literally spend hours searching for a property, only to come up empty-handed.


A duplex home is defined as a type of residential property that attaches two living units to one another, and places two separate residences under a single roof. Duplexes can be single- or multi-story structures, but the two individual dwellings that are contained within these properties (which essentially pack two units into one home) will have separate entrances.


Most commonly utilized as a form of passive real estate investment, duplexes effectively combine two units into one home, both of which may share an interior wall, floor, or ceiling. But both housing units are effectively separate residences with separate doors, interiors and utility meters.


As opposed to single-family homes, duplexes allow for scenarios in which dual occupancy can be offered, allowing landlords to charge two rents, thereby increasing the earning potential of the property.


Examples of multifamily home options include townhouses (wherein two families live in one house that is separated by an interior wall) or apartment complexes (a single structure which houses at least five or more common units, and in which residents share common areas).


Costs to build a duplex can vary widely depending on the specific features and amenities that you wish to include. For instance, a more high-end, luxury home with added architectural flourishes, higher-quality building materials, and more interior space will naturally be more expensive. Expenses also tend to go up if you wish to build a multistory versus a single-story structure.


As with any other form of real estate, prices associated with building a duplex can be impacted by state, region, neighborhood, community and local real estate market. By way of example, certain cities are more expensive than others, and urban areas are often more expensive to build in than rural locations. A variety of external factors such as the type of community that you live in, the current housing market, demand for duplex or rental housing, and other variables can impact your bottom-line costs.


Like many aspiring investors, rehabbers and real estate developers have noticed lately, prices on building materials and labor are trending upward. Rising costs (often fueled by rising demand for high-quality materials and skilled labor) can also lead to rising expenses associated with building a duplex. Note that demand for labor and material can fluctuate greatly between individual markets and may be higher or lower at certain times of the year.


In keeping with other forms of housing, the larger your duplex buildout is, the higher that associated building costs tend to be. Different styles and structures of building can also cost more than others, and expenses can further be impacted by how much land needs to be purchased and the terms of the land loan. Adding additional features like garages and sheds can also add to the expenses generated by building a duplex as well.


Similar to single-family homes, the more rooms that you wish to add to a duplex, the greater the costs will be. You can also expect to incur further expenses for adding additional walls, windows and doors. Any interior flourishes or amenities that you wish to introduce will cause the budget behind these projects to increase to boot.


A duplex home build is often well worth the investment for real estate developers and armchair investors hoping to increase their rental income. Some factors that you may wish to consider as you weigh whether or not to build a duplex include:


Myriad expenses such as materials and labor are associated with building a duplex, some of which can vary extensively by market, region and even the time of year. But with a little upfront planning, it should be much simpler to determine how they fit into your overall investment plan and budget.


Buying a duplex is a great way to enter the real estate market as an investor and reap the huge benefits it can offer. Properties that generate income for their owners are a smart move, and the housing market has seen rising rents since early 2020. Fueled partly by a housing shortage, the national rental market is projected to continue seeing high demand over the next four years.


Owner-occupied financing If you decide to live in the duplex, you can pursue multi-unit financing, meaning government-backed loans that cater to homeowners who want to purchase a home with multiple units and live in it as their primary residence.


It is possible to buy a duplex with no money down, but unless you qualify for a VA loan, you may have to get creative. You could look into entering a lease-to-own deal or pooling resources with others through group investing.


The average cost to build a duplex is between $95 and $220 per square foot, according to data from Fixr. The cost to buy a duplex will vary widely depending on the location, size and housing market when you buy.


The maximum conforming loan amount for a two-unit property like a duplex in most of the United States is $828,700. In Alaska, Guam and the Virgin Islands, the limit is higher to reflect higher housing costs and is capped at $1,243,050.


Here at the Duplex Doctors, we specialize in helping families and individuals buy their first multi-unit property in the Minneapolis area. We specifically love helping them understand the investment potential of buying a duplex or other multi-unit property.


Keep this difference in mind as we look at the other investment property types. It will be important when it comes to understanding the difference between town houses, condos, apartments, and duplexes.


A condominium, or condo for short and an apartment have a lot in common because they are both typically 5+ unit buildings where amenities are shared by all owners. So the differences between the apartment and a duplex are the same as a condo.


If you were to pay off a duplex you would only have to keep up with the normal bills required of a residential property; things like, maintenance, HOA fees, utilities, and property taxes (if applicable).


Duplex houses are great for families who are looking to buy a house and use it as an investment. A lot of duplex owners will live in one side and then rent the other side out. Many owners are even able to pay their whole mortgage by doing this, effectively letting them live rent free!


Right on our website we keep a list of various duplexes that are for sale, but we would strongly encourage you to reach out to us so we can help you meet your specific needs. We can help you determine things like the best school district, best areas for safety, or even the best options if you want to build equity.


What are duplex house plans? Duplex house plans feature two units of living space - either side by side or stacked on top of each other. Different duplex plans often present different bedroom configurations. For instance, one duplex might sport a total of four bedrooms (two in each unit), while another duplex might boast a total of six bedrooms (three in each unit), and so on. Is a duplex considered multi-family? Yes, because more than one family can live comfortably in a duplex. In fact, if you think you might house aging family members down the road, a duplex plan might be your best bet, as this type of home allows you to keep loved ones close while still maintaining a good amount of much needed privacy. 041b061a72


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