Investing in real estate is a great mechanism to diversify investments. Nonetheless, it is suitable for real estate investors to be familiar with managing different types of houses. Such information will help you make well-informed decisions and handle their obligations perfectly. Let’s look at what it will take to manage a single-family home vs. a duplex in terms of repairs and notices.
Difference Between a Single-Family House and a Duplex
The main difference between the two is in a duplex; two homes can be located side by side or on top of each other. They are joined together by a single wall. In contrast, a single-family is one stand-alone house that is not adjoined to another house.
Repairs for a single-family house vs. a duplex
For a single house, the homeowner you have the responsibility to repair and maintain the house. In most cases, you will be responsible for repairing leaky showers, broken-down furnaces, broken windows, or other things that may affect the tenant’s comfortability. Moreover, you are responsible for maintaining the outdoor: trimming grass, shoveling walkways, removing debris, and other activities that will enhance the tenant’s safety.
On the other hand, if you own a duplex, you should repair the two homes’. That will cost you more.
Single-Family House vs. Duplex Repair Notices
It will be easier to communicate with your tenant for repairs in a single-family house since it is a single-family. But for duplex it might be a bit challenging especially when different families live in the two places. You have to organize repairs for the two homes to avoid hiring repair experts twice, which will cost you more. Also, you have to give them notices in advance to avoid inconveniences. But no matter the case, it will cost you more when managing a duplex than a single-family home. Nonetheless, a duplex has more financial gain than a single-family house.