Advantages Of Buying A Duplex And Using The Second Side For A Home-Based Business

If you're interested in living in a duplex, your first instinct might be to buy one side of it and hope that you like your neighbors. An alternative approach, however, is to investigate the idea of buying the entire house. Doing so presents a considerable financial investment, but if you're able to do it, you may appreciate it. Buying a duplex can especially be advantageous if you're a small business owner who works from home. In such a scenario, you and your family can live in one side of the duplex while you use the other side for your business. Here are three advantages of this idea.

It Separates Work From Family Life

Perhaps the biggest challenge of operating a home-based business is the lack of separation between your work life and your family life. The presence of your family around you can be distracting. When your children come home from school, for example, you'll often find yourself stopping work to ask them about their day.

Conversely, it can be a challenge sometimes to step away from work. When your home office is just a few steps away, working on a project can trump family time. When you buy a duplex and use one side for your home office, there's a distinct separation that you may find helpful.

It Presents An Earning Opportunity

Depending on the nature of your business, you may be able to turn the business side of your new duplex into an opportunity to earn — beyond the money that you yourself are earning, of course. For example, if you're a physical therapist or massage therapist, you might think about having a couple other practitioners working out of the space either when you aren't or even while you are there. You'll take a percentage of their earnings, which you can then put toward the mortgage.

You Can Always Rent It

If you ever reach a point that you're changing the nature of your business — perhaps by investing in an actual office away from your home because the business has become very successful — or you simply need some extra money for some expenses, you can empty out the business side of your duplex and rent it out.

Many people buy a home or duplexes to live in one side and rent the other, as doing so may pay a significant percentage of your mortgage. Having this opportunity always within reach can be a comfort for you.

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Buying the Vacation Home of Your Dreams

Do you absolutely adore going on fun trips with your family? Perhaps, you and the ones you love the most travel to the same beautiful location multiple times each year. If this scenario sounds familiar, you might desperately wish to buy a vacation home in your favorite beach or mountain town. To help you accomplish this meaningful task, consider hiring a dependable real estate agent in your part of the country. Working with a real estate agent is especially important when you’re purchasing property in an area you don’t live close to. A real estate agent can sometimes find out about promising listings before the general public can. On this blog, I hope you will discover the valuable ways a real estate agent can turn your dreams of vacation home ownership into a reality. Enjoy!



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