Duplex apartments have become quite common in India. There is some confusion in the minds of the people concerning what exactly is a duplex apartment. People tend to mix them up with a two-story house. But there are some fundamental differences between the two.
What Is a Duplex House?
A duplex house is a single residential house property having two floors. It has one dining room and one kitchen. The duplex structure has a common wall encircling the entire building but has two living units. The two units can be stacked one upon the other or side-by-side. The entries to each of the units are separate. The two units are inseparable and owned by a single individual.
A flat, on the other hand, is an individual residence with a set of rooms. The layout is spread over a single floor. The number of rooms and arrangement of the same may be different across different properties.
If you happen to have stable employment, investing in real estate can be a very logical decision. All financial institutions offer home loans on duplex houses. Home loan EMI calculators are available on the websites of all lending institutions. All you need to do is visit any of the sites, check out comparative home loan interest rates and offers, and go for the scheme best suited to your needs.
Buying a duplex house can be a good option for you as it has some distinct advantages over a flat or an apartment. Some of the benefits given hereunder will explain why choosing a duplex house over a flat is a more prudent decision.
Some of the advantages of duplex houses are as follows:
- Offers Privacy:
The duplex houses come with separate entry and exit for their two units. The duplex properties often come with an open space with a clear bifurcation of boundaries between the units. This gives you a sense of privacy which is not available in a flat, as the property is spread over the same floor.
- Sense Of A Higher Self Esteem:
Without an iota of doubt, duplex houses are individual houses with their own entity. It surely gives a sense of high-end living. A flat, on the other hand, is located inside a building containing other similar apartments. There you are going to share space with many others. This may deprive you of the feeling of being exclusive.
- Affordable:
Duplex houses are more affordable than other residential properties having identical carpet areas in a similar neighborhood. This aspect makes a duplex house a popular choice among the target audience who have a limited investment budget.
- Scope of Additional Income
More often than not, you may opt for a home loan for purchasing a duplex house. Letting out a duplex on rent or for commercial purposes can offer you a scope of additional income. The rental income that will come in from the duplex property may be used to repay loans and expenses that need to be incurred for property tax, insurance, etc.
While you may also let out your apartment as well, you have the option to give your duplex house on rent to two tenants. Therefore, you have a better chance of earning more while renting a duplex house instead of a flat.
- Small Home Office:
The duplex house offers excellent facilities for having your office in the same house along with your residence. Your residence and office may be under the same roof while being separated. This is a direct saving on the rent that you otherwise would have spent taking up an office space. This may not be an option in a flat as your privacy will be compromised.
Keeping all these factors in mind, going for a duplex house is a much better option than a flat. However, it is advisable to check out all pros and cons before putting your coin on either of them.
House property is an asset on which you may not spend many times in your life. Therefore, you may look at owning a duplex apartment rather than a flat, which has more social esteem. Top lenders offer home loan schemes where loans of upto Rs. 5 crores may be taken depending on your eligibility. The rate of interest is also very affordable at 9.25%. For this, all you need to do is to visit your lender’s official website, check your eligibility and go for your dream home.
