Buying a Duplex
September 7th, 2008 Jacquie Cliff - Real Estate Agent and Loan Officer Posted in Duplex | No Comments »
Why would someone buy a duplex property? I firmly believe that for those people entrepreneurial enough, it is a great way to not only purchase a home, but invest in a rental property as well. Buying a duplex has several advantages over a standard single family home.
- Duplex properties are less expensive per square foot than single family homes.
- Buying a duplex means you can generate rental income to offset your house payment
- The maintenance costs are lower for one duplex vs. two single family properties
- Duplex homes, only share one common wall, unlike condos or town homes.
Buying a duplex does have some risk, but most of it can be mitigated by good planning. Looking ahead and investigating insurance rates, rental prices, and planning for needed repairs and maintenance will greatly reduce the risk of loss over the long term. I always advise my clients that are purchasing duplex or other rental properties to take a portion of the rent and establish a ’slush fund’ for any emergency repairs that may come up.
Buying a duplex is a great way to purchase a first home, so if you are considering making the jump into owning your own home, look at your local market conditions, talk with your real estate agent and give buying a duplex some serious thought!
Jacquie Cliff – The Amazon Negotiator
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Real Estate Agent, Loan Officer and Real Estate Investor serving:
Lynnwood, Bothell, Mill Creek, Seattle, Bellevue, Marysville, Mountlake Terrace, Edmonds, Everett, Snohomish, Kirkland and the surrounding areas!
Call me with any of your real estate questions at 425-773-3149 or email me at Jacquie@jacquiecliff.com anytime!
Copyright © 2008 By Jacqueline A. Cliff, All Rights Reserved.
“Buying a Duplex”
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