Many young professionals have the urge to live independently, so they look into buying their own house as soon as they can. While it’s not yet practical for yuppies to spend on such purchase, they can instead share their first home with other tenants. For up-and-coming individuals, the most fitting residence is a duplex, triplex or quadplex.
There are two ways duplex house builders build such residence: side by side or house behind a house. Either type proves to be more practical than a house or condominium for young professionals as their job may more likely compel them to move to another state for promotion or, for whatever reason, resign.
Free Rent, Extra Income
As it is uncommon for yuppies to start and end their careers in a single company, buying a duplex, triplex or quadplex is a more fitting choice money-wise. In general, purchasing a multiplex enables you to save as much because you’ll be dividing most of the payments of the property with the other tenants.
Unless you’re also a tenant and not the landlord, owning a multiplex allows you to live rent-free and still have an extra income. In addition, you may enjoy some tax benefits as the homeowner. It’s possible to offset taxes with the income you earn from rents. You can claim the cost recovery or depreciation of the rented units.
Future Housing Option
Moreover, buying a multiplex gives you flexible options. At first, you’ll probably take the one-bedroom part of the property and put up the bigger rooms for rent. But, if you don’t relocate to another state and you continue to live in the property for long, you have the option to occupy the bigger rooms in case you marry and start a family. That way, you won’t have to find and move to another place.
In case you have to move to another place, selling the multiplex on the market won’t affect much of your finances as you may have earned from the rent the same amount you’ve spent on purchasing it. That should be enough to cover all property expenses and conveniently move on to another place.
Buying and investing in a duplex, triplex or quadplex property is a smart move for young professionals. More than having a home, you have the opportunity to earn something from it.