Why Buy a Half or Full Duplex Home in Calgary?
Aren’t sure if a duplex home is right for you? In today’s residential market, affordability is a key part of purchasing real estate for many home buyers and is one of the many benefits of considering a half or full duplex home.
But why else should you consider purchasing a duplex in Calgary as your next home? Here are five reasons why a duplex may very well be. Also see Calgary Multi-Family Home Starts – July 2017 for more on duplexes.
#1 – Lessen the barrier to home ownership
Buying a duplex home is a great entry point into home ownership for first-time buyers or those who desire a more affordable property.
Comparatively, a duplex unit often costs less than a single-family home with a similar square footage, number of bedrooms, bathrooms and overall condition.
#2 – Opportunity for passive income
If you were to buy a full duplex and live in one of its units, you could easily choose to rent out the other and create a passive source of cash flow.
This could also factor in to affordability as a secondary source of income could take care of various expenses you have.
#3 – Chance for faster home equity
Once again, buying a duplex and living in one side while renting out the other would provide the chance for you to accelerate your mortgage payments, therefore effectively reducing the overall term of your loan repayment.
This would accelerate the amount of equity you have in your home while also reducing the amount of interest paid over the long-term.
#4 – Great potential for future rental property
The time may come when you outgrow the space in your duplex, have to move locations for work or simply want something different.
Whenever the time comes for you to move into your next home, you’ll be left with the option of keeping your half-duplex and utilizing it as a rental property.
As a previous resident of the duplex, you’ll have insight as to how to maintain the property from a landlord point of view while earning double rent cheques from your tenants.
#5 – A unique living arrangement
Say you needed to take care of someone who is close to you and supervise them for an extended period of time but still wish to respect yours and their space and privacy.
A duplex home would accommodate that scenario perfectly as you could live in one unit and effortlessly check in on your loved one at any time.
Some communities with new duplexes in the Calgary Metropolitan Area:
Questions about Duplex Homes for Sale in Calgary?
As a highly experienced REMAX agent and REALTOR® in Calgary, I promise to help guide you every step of the way through your duplex home transaction while providing only the best service, advice and third-party representation when negotiating with a builder.
Call me anytime at 403-370-4180 or message me below for a quick response. I am looking forward to helping you accomplish your real estate plans!