Modern homeowners are constantly trying to come up with ways that will maximize their property and increase its value. While most opt for additions, home improvements and landscaping, those who are smart and progressive choose to turn their home into a duplex. This allows them to improve their rental profit and expand their home. So, here’s how you too can reap these amazing benefits by creating a duplex.
Check the laws
Creating a duplex might seem easy, but simply dividing your home into two equal parts will not cut it! First, you need to check whether you live in a neighborhood that allows single-family homes to be transformed into duplexes. Every state and every neighborhood has different laws, so make sure to check all policies. You can talk to your local counselor or consult a planning website of your state or area.
Set on a type
Once you know you can start your construction, you need to consider different duplex types and find the one that will satisfy your needs. Luckily, there are only two main types of duplex apartments: one that contains two separate units that share a common wall and one that contains living spaces on two separate levels like the ground and first floor. Most homeowners opt for the first option since the renovation works are much easier and cheaper to pull off. The second type requires a whole fresh level with all the utilities that can be accessed by stairs. This involves a lot of construction, expenses and disturbance. But no matter which type you choose, both units will need to include basic facilities like a bathroom and a kitchen.
Find reliable constructors
Unless you have plenty of experience with construction and interior design, you’re going to need a good contractor to conduct your renovation. A great way to save some money is to shop around and consult with different building companies in order to find one that will handle your project with care and respect. Luckily, there are good contractors with duplex experience out there! For instance, builders from Meadan Homes not only offer great prices and amazing final products but also treat their clients with integrity, transparency and honesty. They can even handle all the legal stuff like council approvals that can help you accelerate the process and propose innovative design solutions you might never come up with by yourself!
Ensure the flow
If you still decide to DIY your duplex construction, keep the good flow in mind. Every room needs to have proper ventilation and practical access that will make your unit more comfortable and attractive to renters. Flow is something many duplexes struggle with, so ensure you don’t have that problem!
Inspect the property
You might think that once you finish the construction phase, you can finally rest. But before you start seeing potential renters, make sure to invite a building inspector to conduct a full inspection of your units and ensure everything is up to code. Once all problems are handled, you’ll get a certificate and occupancy permit that allows you to rent without any legal issues.
Know the risks
Don’t think that owning a duplex comes without any cons! One of the biggest issues you’ll be facing is taxes, so make sure to hire a good tax professional familiar with all IRS rules. Another thing that might bother you is noise. Even though living next to your rental property is practical in times of emergency, you’ll hear all the noise your renters make and experience some disturbance you might not be used to living in a single-family home. You will also have the responsibility as a landlord to take care of certain issues your tenants experience in your property like plumbing, gas and electrical problems.
Building a duplex is indeed one of the best ways to earn a steady income from your property. If you ensure practical design and good flow and arm yourself with all necessary permits, you’ll rent out your unit in no time and reap great profit!