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Scottsdale, AZ, is home to over 265,000 residents who love the lifestyle it affords them. Scottsdale, AZ is a popular tourist destination because of the upscale amenities and the beautiful warm weather throughout the year. No matter what you are into, there’s something that aligns with your hobbies. Spend your days outdoors enjoying the desert climate going on hikes, rock climbing, visiting the numerous parks, or swimming. If you love to eat and drink, Scottsdale, AZ has plenty of delicious options to try, and you can go somewhere new every . Scottsdale, AZ has a strong economy and real estate market, so it’s no wonder so many people are looking to relocate to the beautiful city.
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A duplex is a type of multi-family home that contains two separate suites in one building. These types of multi-family homes look like townhomes, but there are only two units.
Duplexes in Scottsdale, AZ are not overly popular, but there are several currently under construction with new listings appearing all the time. These beautiful new duplexes range in price from $650,000 to $1.5 million.
Duplexes in Scottsdale, AZ are located among some of the best communities in the city. Neighborhoods like South Scottsdale, McCormick Ranch, and the newly developed Scottsdale Heights. With new listings coming up on the market every day, Scottsdale, AZ residents are sure to find their dream duplex in a community they love.
There are many reasons why investing in a duplex in Scottsdale, AZ is an excellent financial decision. Whether you’re looking to become a real estate investor or you want to put a little extra money in to get a secondary suite, a duplex could be the best solution for you. As a first investment, a duplex is an excellent option to add to your portfolio. If you plan on living in one suite, you may qualify for better mortgages, and you may be able to subsidize your rent and end up living rent-free. As long as you don’t mind becoming a landlord or hiring a company to take care of the property next door, this can be an excellent option. It’s essential to find something you can afford even without a tenant, just in case it stays vacant for any length of time. Another reason might be needing the extra space for aging parents or other family members. Suppose privacy and personal space are important to you and your family. In that case, a duplex is an excellent option for having proximity but still having your own space. Not to mention, you can still have a steady flow of rental income offsetting your mortgage costs. Regardless of your intentions with the property, a duplex is an excellent choice if you are in the market to purchase multi-family homes.
Once you’ve decided to purchase your duplex, congratulations! It’s an exciting time, but the work doesn’t stop here. If you have the cash to pay for your property, then you won’t need to worry about financing options. Most individuals are looking for the best mortgages for their circumstances. When purchasing a duplex in Scottsdale, AZ, depending on your plans with the property, a few different options are available.
If you plan on living in one of the units and renting out the second one, you may qualify for a mortgage offered by the FHA. The Federal Housing Administration loan offers plenty of benefits like lower interest rates, fewer requirements, a lower down payment, and more. This mortgage can save you a lot of money, so you must ask your broker about it if you qualify.
Suppose you are strictly purchasing your duplex as an investment property, and you have no plans to live in one of the units. In that case, you will need to get a traditional mortgage. You will be required to put down a larger down payment, have excellent credit, and pay typical interest rates. An investment property is riskier for banks, but as long as you meet the requirements, it should be no problem to get approved. The rental income you’ll generate from the property can be used towards qualifying for the loan.
The last option is available to current and former members of the U.S. military. The VA, or Veterans Affairs, loan is an excellent option for interested homebuyers that have served. There is no down payment required, lower interest rates, no need for excellent credit, and no private mortgage insurance required. As long as you reside in one of the two units, this is a fantastic opportunity for U.S. military personnel to take advantage of.
When it comes to financing your new investment property, working with a team of professionals who are experienced in the purchase of duplexes is key to getting the best mortgage for you and having a seamless transaction.
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GetMultiFamily.com is the newest and most efficient way to sell or purchase your new multi-family home in Scottsdale, AZ. Our incredible service has helped a number of homeowners get the best price for their homes and purchase their dream homes. We specialize in duplexes, triplexes, fourplexes, and other multi-family properties. We aim to make every transaction as seamless as possible. We pride ourselves on our word-of-mouth reputation, which is why we always recommend the incredible team at The Cap Core Real Estate Group to all of our clients. The incredible team at Cap Core is led by Patrick O’Sullivan, who is a true leader and real estate professional. Patrick is the former real estate advisor for U-Haul, and he has an impressive career, including being awarded the Agent of the Year and the CCIM (Certified Commercial Member Investment) designation. Patrick has built his team from the ground up, and our clients have always been thrilled with his expertise and professionalism.
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