What?s it Like to Live in a Duplex?

 

One of the lesser known gems of real estate is the duplex. Most people have lived in a house or an apartment but by comparison, fewer people have lived in a duplex. There are many advantages to living in a duplex. There are financial rewards as well as spacial benefits to owning a duplex.

 

duplex

Image by reallyboring via Flickr

As a business opportunity, it’s a more affordable way to live when you have someone else paying half the mortgage. Purchasing a duplex and renting out just the bottom floor is an ideal way to get half your mortgage paid. A duplexis often spacious and one floor is all that is necessary if you have a small family.

 

If you are renting a duplex, you will likely have just one set of neighbors to contend with instead of various families. Renting a duplex is also good practice for home ownership as you are often expected to mow your own lawn and remove snow from your driveway in the winter time. This could also be a drawback of renting a duplex if you like apartment living where these small inconveniences are all taken care of for you.

A duplex is most likely to come with a useable back yard and shed space to store a lawnmower, extra kid’s toys, and shovels. Depending on your landlord’s rules, you can also hang a laundry line to save on the electricity it costs to run a dryer. You may also be granted permission to plant and run your own garden if renting. Owning a duplex would make sure the best of all worlds in regards to home ownership and mortgage savings.

Three Reasons to Rent Instead of Buy

As the economy makes a sluggish recovery, and it becomes harder to get a good mortgage interest rate, it may be better to rent instead of buy a home for some people. Here are three reasons that renting could the best option for you. Don’t think of it as a permanent option, but it might be the right option right now.

Do You Know Your Credit Rating?

One of the biggest factors when buying a home is your credit rating. Do you know yours? If not, the law allows you to receive one free credit report a year. Find out what your credit history looks like! You may find it isn’t good enough to get you a good interest rate on a mortgage. In that case, renting is the better option for you. Then work to improve your credit score. Make sure you find a rental that is well within your budget. The cost of housing is usually our biggest expense, so you’ll have more money to pay your other bills if you don’t rent outside of your financial means.

The Cost of Maintenance

If you rent, your property owner or manager is responsible for the maintenance of your home. If you buy a home, then you’re responsible for upkeep! That means that you pay for plumbing repairs, broken windows, painting, new flooring, etc. Talk about expensive! And guess what! You’re responsible for paying the property taxes on a home you own. Can your budget handle a mortgage, maintenance and property taxes? If you’re carrying a mortgage, you also have to pay home owner’s insurance. See how home ownership gets really pricey?

Mobile Lifestyle

Finally, it makes sense to rent if you have a mobile lifestyle. If your job or dreams mean lots of moving, then rent your home. Buy when you finally settle down. Just live within your means until you’re ready to find that dream house.

Earth Houses for the Progressive Home Owner

Bedroom in the Blumenschein House, Taos, New M...
Image via Wikipedia

Traditional home construction can really inhibit the creative spirit in a forward thinking home owner. As people strive to push the aesthetic and environmental aspects of home ownership, earth houses may be just the thing for the progressive home owner.

Earth houses are located all over the world in many different forms and designs, but the overarching feature that makes this design what it is would be the fact that the homes use natural terrain to form the walls of the house. This does not mean the house in built underground. Rather they are incorporated into the landscape around them. Some may be built into the side of hills, and some may be part of a man made mound of earth.

In Taos, New Mexico, earth home outer walls are made from filling old tires and solid waste with dirt to create strong structures. The homes demonstrate an innovative way to recycle large trash objects.

As the structures have advanced, they are being designed with windows and natural lighting instead in dark, cave-like ways. Keeping in step with the structures in New Mexico, the outer “hill” faces north to protect against the winter wind. The south side of the home is all windows. This affords plenty of natural light to reduced energy costs. Earth homes are extremely energy efficient because heat and air conditioning are unable to escape the thick earthen walls. The homes also hold humidity better.

Since these homes follow the flow of the earth, the walls are not square. Therefore, the creative homeowner will find the possibilities endless when decorating the interior. Every earth house project is considered a highly individual project where the focus is on the human being rather than the structure.

A few drawbacks to earth homes would be too much humidity if not properly ventilated, and dark areas opposite the window side of the structure. Both problems are remedied with proper construction and planning.