Investment properties are appealing to customers post the COVID outbreak. It is because the prices are rock-bottom, and investors are taking it as a golden chance. If you are interested in purchasing property either for living or to resell it, you should consider purchasing a duplex. A duplex is a two-story building with two complete apartments on different floors with separate entrances. Are you confused about whether to purchase a duplex or not? It would be best to go through this article to make a wise decision!
Reasons to purchase a duplex apartment:
Purchasing a duplex has multiple advantages over a traditional apartment, and we have compiled a few of them in this post. Traditional villas and apartments might come at the same price, but they can’t expose you to the benefits associated with a duplex. Before making any investment decision, you should carefully review these points and decide whether it could be a profitable move for you. Let us go through the points quickly!
Many people think of a duplex as combined apartments with relatively less privacy. However, they need to rethink and reform their ideas. A duplex promises you to complete privacy and comfort since it has different entrance points for the two apartments. They are completely private with complete front and back entrance points and no connectivity or least connectivity between the two.
Residents can enjoy complete privacy in their apartments. In most cases, the two apartments are connected through a staircase. However, it won’t be used unless you need it. Would you like to purchase an apartment with complete privacy? Consider exploring apartments for sale in Jumeirah village circle!
Regarding the price factor, duplex apartments are much more affordable than other residential apartments/properties. You would be surprised to find out that a duplex is more affordable than a traditional apartment with the same carpet area and location. If you have a modest investment budget, purchasing a duplex could be a better option.
A duplex apartment can put you on a fast track to purchase property than any other property. Moreover, these apartments are often located in less pricey areas, attracting more customers and renters. You won’t find a more appealing aspect of purchasing a duplex than this point.
3. Easy to resell:
Apartments inside a duplex are complete with every aspect. Whether it is the kitchen, washroom essentials, or dining needs, residents will always find these apartments perfect. These aspects uplift the resale value of a duplex, which can help you resell it whenever you want. Moreover, the transaction could grant you a capital gain as well.
Duplex apartments have been considered the easier apartments for resale. They have excellent appreciation rates, and customers never step back once they decide to rent or purchase these units.
4. Easy on mortgage:
If you purchase a duplex with a mortgage, the process is well-balanced. You can live in one portion while renting out the other one. The rental income can help you pay your mortgage off easily without any delay. This point is useful for those who are shorter on budget and thinking of borrowing funds from a bank.
The trade-off will help you pay your mortgage on time and own the duplex within the stipulated time. Another option is to rent both the units out and pay your mortgage quickly to enjoy the ownership.
5. Large space:
Your previous flat/apartment might have a lesser living space, but a duplex is never short on this aspect. It comes with larger living spaces with enough room for almost everything you possess. Whether furniture or other house belongings, a duplex and accommodate everything you bring to the room.
The spacious feelings in such apartments are appreciated with the added yards, gardens, and garages. These are essential amenities that residents should look for before making any decision. If you want to purchase a duplex with such amenities, consider exploring apartments for sale in Jumeirah village circle today!
6. Lower insurance coverage:
Do you know that you can reduce your insurance cover by renting one portion out? It is true! Purchasers have this added benefit of reducing insurance cover when they rent one portion out to someone. The insurance cost for that portion is reduced, and you can enjoy peace of mind.
Once you rent out a single portion, you can take insurance cover for a single building. It would be opposed to taking for two separate families that would have been the case otherwise.
Book a luxury apartment with property developers!
Purchasing a luxury apartment is a critical investment decision that requires great due diligence. It would be best not to go along for the hunt and take professional property developers with you. Having them on your side will help you explore different aspects and make a wise decision. Consider hiring them!