Planning to buy a home in Edmonton and confused what to choose? Houses in Edmonton for sale can be categorized into three main types, single-family home, duplexes, and apartments. If a single-family home is too expensive for you and an apartment will not suffice your needs, then a duplex is what you should be looking for. Duplexes, also known as multi-family homes are made up of two units, which can be used together or separately. While you may have never thought of buying a duplex, you should think of it this winter for the following benefits.
If you have a limited budget and plan to buy a spacious home, you should consider buying a duplex. Compared to a single-family home, duplexes are much affordable and as compared to apartments; duplexes are much spacious. Also, duplexes are generally located in an affordable neighborhood, making it an easy buy. For a first-time home buyer, duplexes are a good entry point in the realty market.
The Extra Money
A duplex is made up of two living units which are connected to each other. These units could be connected sideways or above each other. When you buy a duplex, it’s like buying two houses for the price of one. This means that you could reside in one unit and put the other for rent, thereby making extra money from the rent. Also, with the concept of half duplex in the realty market, when you decide to sell the house, you could sell both the units separately.
Facilitates Unique Living Situations
There are times when you find yourself in a situation where you need to be close to a relative or a family member. However, you cannot stay under the same roof to maintain your privacy. For instance, if you have an ailing aunt who cannot live alone, but you do not want to hamper the privacy of your family, you could accommodate her in the other unit. For situations like these, a duplex is a good option.
If you have a short budget, an apartment could be ideal for you. However, an apartment would not really be an option for your beloved pet, as many condominiums have policies against keeping pets. Also, a duplex gives your pet more place and open area to play around.
Expedites Mortgage Payments
When buying a home, paying off the mortgage is the most important agenda on your list. When you buy a duplex, paying off a mortgage can be an easy task. With the extra money you make by renting the other unit, you can make your mortgage payments and be a smart home buyer.
If you plan to buy a home this winter, which not only acts as your residence but could also be a good rental property, then a duplex is the best option for you. Owning a duplex in Edmonton is comparatively cheaper and yet has so many benefits. So why wait? Get in touch with the finest real estate agents to help you find the best duplex out of the houses in Edmonton for sale.