Duplexes, are they worth the investment?

[Toyoabasi]

I am considering the purchase of a new duplex that was put up near me a few months back. It's for sale and I am thinking I may buy it and rent out each side. Or I may even live on one side and rent out the other. Is it worth investing into a duplex? What are your feelings on that?

You would have to consider the location of the duplex. It is located where your target market would easily gain access to?
In my area, families really go for one, two or three bedroom flats, students go for self contain apartments.

 

[YERUS]

I am considering the purchase of a new duplex that was put up near me a few months back. It's for sale and I am thinking I may buy it and rent out each side. Or I may even live on one side and rent out the other. Is it worth investing into a duplex? What are your feelings on that?

Yes, they are worth your investment.
I see a lot of duplexes in well developed areas of Lagos where you find the middle and high class citizens.
If you want to invest in duplex, consider the type of people living in the area or around it.

 

[Mayox25]

Aside the fact that if you purchase the duplex it is an asset you can also make money by renting it out but you must have a projection of what you are expecting from it over a period of time and see if it is worth it.

 

[Laurentta]

Acquiring a duplex is a good idea but for peesonal use. I don't think people would really like to live in a rented duplex. Why not buy flats instead and rent them out, i feel that would be better.

 

[Dagm1]

It all depends on the type of neighborhood you are leaving; in certain areas, it may work better for you and be more profitable, but in others, people do not prefer to leave in such houses. Some folks require their personal space.

 

[greenie]

Well houses don’t depreciate most times. Duplex isn’t always suitable for rent but I’d suggest you renovate the house. Get a good engineer to help you restructure the building that way it’ll be easy to rent out each section of the building.

 

[Sincerem]

I am considering the purchase of a new duplex that was put up near me a few months back. It's for sale and I am thinking I may buy it and rent out each side. Or I may even live on one side and rent out the other. Is it worth investing into a duplex? What are your feelings on that?

Duplex will be an expensive property for you to buy except you have thousands of Dollars to spend . The most important thing you need to do is to do some enquiry and get to know about the actual price of the property first before you take the next step.

 

[Shaffy]

I am considering the purchase of a new duplex that was put up near me a few months back. It's for sale and I am thinking I may buy it and rent out each side. Or I may even live on one side and rent out the other. Is it worth investing into a duplex? What are your feelings on that?

If it's in good state and you know you won't need the money for any urgent need at least within 5 years or more, it is a great investment. You should also find out the real reason they want to sell so you won't buy a property that has issues.

 

[Kane]

The best way to profit from real estate is by using it as your home so that you can save money on rent as well as rent out and earn rental income. rental income is a great passive income source.

 

[Shahid987]

Whether duplexes are worth the investment depends on various factors such as the location, market conditions, rental demand, expenses, and your personal investment goals. Duplexes can provide a steady stream of rental income and the potential for appreciation in property value, but also come with added responsibilities as a owner and the potential for maintenance and vacancy costs. It's important to thoroughly research and consider these factors before making any investment decisions. Additionally, seeking advice from a financial advisor or real estate professional can be helpful in determining if a duplex investment is suitable for you.

 

[Shigobad20201]

Though estate business is always a lucrative business , but renting out duplex to people can only be lucrative if the location is in the urban area where people that can afford to rent duplex are staying and working .