Things You Should Know Before Buying a Duplex

duplex architects in Ryde

The term “duplex” conjures up images of sagging wallpaper, grimy kids and dusty old furniture. But what if we told you that owning a duplex could actually be the perfect solution for you? Well, good news! The term “duplex” is a legal term that refers to two separate residential properties linked by an entrance hallway, so it isn’t something to be scared of. If you happen to live in a city with plenty of duplex options, think no further, there are many duplex architects in Ryde.

The housing market is slowing down

All of the recent interest in real estate is great, but it’s also important to remember that we’re in an economic climate that is very different from a few years ago. The market has been cooling off, and you should shop around to find the right deal. Ask your real estate agent about any recent price reductions, and make sure the seller knows their current market value. Also, if you have a mortgage lender that is putting pressure on you to “knee-in” and buy a property at a certain price, you should let them know how much you’re actually willing to pay and see if they’ll lower their offer. If a seller is trying to pressure you into buying a property at a reduced price, it could be a red flag that the market is slowing down for other reasons, such as a rise in interest rates.

You should shop around

When it comes to shopping around for a duplex, there are a few things you should keep in mind. First, you should shop around for both properties. You don’t have to buy both houses, but you should ensure you’re aware of what’s available and that each house has room for. Second, don’t be afraid to ask questions from duplex architects. Your hired professionals should be happy to help out with any questions you have, but keep in mind that they’re only as knowledgeable as the homes they’re working with. Make sure you ask questions about the specific features of the properties you’re looking at and the financing options and closing costs involved. 

It’s not for everyone

Some people will look at a duplex and see a cheaper option than a traditional house, but that’s not the case with all duplexes. If you’re in the market for a two-level home with character and history, a duplex may be exactly what you’re looking for. In fact, duplexes offer some of the best of both worlds; they offer more space than a traditional house, as well as a second bathroom, kitchen and more storage space. They also tend to appreciate value, so if you’re lucky enough to find a great deal on one, you could save on closing costs.

The floor plans should match

You shouldn’t have to shop around to find identical floor plans for either house because duplexes have the same layout and features. If one house has a large family room and the other has a formal living room, both would work well as the home’s main floor plan. And if both homes have a formal dining room, you don’t have to worry about finding a matching formal dining room for each house. Finding the perfect floor plan for your duplex isn’t just about the houses themselves; it’s about the location. Both houses should be able to fit in their respective grids.