Many people dream of being able to invest in a rental property but feel that it is a difficult financial goal to achieve. If you are able to do it, you can increase your monthly income, have more to put away in your savings, grow your net worth, and—best of all—have somebody else paying off your mortgage. One way to make this dream come true, especially if you don’t have a lot of extra cash to invest, is to build a duplex. You can live in one unit and rent out the other one, decreasing your monthly living expenses and allowing yourself to save for the future.
One of the Adair Homes floor plans that investors love is the Pines, a stylish and affordable duplex that you can either live in or rent out for even more monthly income. Each 1,200-square-foot unit has three bedrooms and one-and-a-half-baths, making it the perfect size for a small family.
Step into the foyer from the covered porch and enjoy plenty of space to take off your jacket and hang it in the coat closet just down the hall. The sidelights by the doors provide natural light and keep the hallway from feeling too closed in. Go up the stairs or through the first door to one of the bedrooms, or head back to the common areas to see what the rest of the family is up to.
The Great Room
Located at the back of the house, the great room is the place where everybody can gather to watch a movie, play a game, or catch up on homework. Connected to the kitchen in this open-concept floor plan, the space feels open and larger than the relatively small square footage would imply. Add a covered patio just outside the sliding doors to extend the common area to the outdoors and get even more space for friends and family to connect.
The kitchen may be compact, but it has everything you need in a clever layout to make cooking both enjoyable and efficient. Add the optional island to create an informal dining area and low-profile separation from the great room. You also get the advantage of additional counter space and storage. Double sinks and a dishwasher make cleanup a breeze, and the upper cabinets ensure that you have plenty of space for all the necessities.
The Pines has a master suite upstairs and an additional bedroom on each floor so everyone in the family can have their own space. The washer and dryer are conveniently tucked away in the master bath, or you can put them in the closet at the top of the stairs if you want to use that space differently. Two closets in the master suite and large closets in the other bedrooms make sure everybody has enough storage space for clothes and other items.
The full bathroom upstairs is centrally located and easy for everybody to access. It can also be upgraded with dual sinks to make the morning routine go smoothly. A half bath on the first floor is tucked under the stairs, so guests don’t have to go to the more private areas upstairs.
Choose our Classic exterior package for a simple, elegant look with clean lines. With high-quality James Hardie fiber cement siding, you get the benefits of durability and little maintenance with a modern look and feel. For a minimal upgrade fee, you can also get the Traditions exterior package. Add a touch of texture with board-and-batten siding surrounding the top windows. The front door feels more inviting and allows natural light to filter in through the decorative glass at the top. Contrasting trim around the windows and door frames bumps up the style and accentuates the simple lines of the home.
Start Investing Today
The simplicity of this floor plan makes it affordable for investors, especially for a duplex. If you’re just starting to think about building a new home, why not get more for your investment by building a rental unit at the same time? Even if your long-term plan is to live in a single-family home, if you build a duplex and live in it for a year or two, you can generate equity and save money to build the home of your dreams. As soon as you move out, new tenants move in to pay for your mortgage with their rental fees.
If you’re interested in learning more about how to build your first investment property or which floor plans make the most financial sense as rental units, contact your local Adair Homes branch office. We’ll work closely with you to build to your budget so you can meet your investment goals and save more for the future.