A friend of mine is looking at buying a duplex property. Does anyone here have experience owning or living in these types of properties, and if so, what are the pitfalls that one should be wary of.
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Noise from one unit to the other I guess.
I own one duplex. There is a concrete block wall between the two, so no noise problem.
If tenanted, be aware that you need separate water meters for each unit in order to be able to pass the water charges on to the tenants.
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Hi Thanks,
She is considering of purchasing a unit of duplex property to live in. Sorry I wasnt clear initially. Are they complex to renovate, as it needs a lot of work in terms of finishing tasks, reflooring, repaining, new kitchen and bathroom etc.
Thanks for your helps
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Just be aware that the ownership might be a little different.
I have a Duplex, and own both units under a Cross Lease arrangement. So if I want to modify one unit, turn the garage into a bedroom for example, I need to seek permission from the owner of the other unit.
Conversation goes like this :
Unit One Owner - The Big Dog - "Dear owner of Unit Two, can I please modify my unit?"
Unit Two Owner - The Big Dog - "Yes"
Unit One Owner - "Thanks Mate"
It might not be this easy if the other owner decides to be difficult, which could happen if the modifications are extensive, or have an impact. Also, need to consider use of any shared areas such as driveways etc. Kids tend to play in all the space available, which cuts both ways depending on which unit has the most kids! A little more consideration might be needed is what I'm saying.
TD
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