Buying a Duplex: Is it Right for You? Investing in a duplex could be a good investment but is duplex living the right decision for you? CANSTAR has highlighted a few duplex pros and cons to help you.
If you’re looking to buy a house but are on a smallish budget, or don’t have enough for a house in your desired area, a duplex property might be the answer to your problems. According to VFM buyers’ agent Tony Coughran the humble duplex is commonly overlooked in the property search for would-be home buyers and investors.
“Overall duplexes are a solid investment and often a good stepping stone towards buying a house, or the next best thing to buying a house,” he said.
Sometimes the pair of homes in the duplex will be owned and sold together if they exist on one land title. Sometimes separate titles exist so a duplex pair can be individually owned and sold.
If you’re considering buying a duplex, there are three main pros and cons with duplex living that you should take into account.
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So as you can see there are many aspects you should consider if you’re thinking of buying a duplex property. While there aren’t any definitively negative things about owning one, there are a handful of things that could become problems if you buy a duplex without considering them. Ultimately it comes down to personal preference and choice.
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This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you. Consider the product disclosure statement and target market determination before making a purchase decision. Canstar provides an information service. It is not a credit provider, and in giving you information about credit products Canstar is not making any suggestion or recommendation to you about a particular credit product. Research provided by Canstar Research AFSL and Australian Credit Licence No. 437917.