Owning or renting a duplex in Oklahoma has many advantages. The advantages vary according to location, price range and lifestyle. However, there are some advantages that are common to both, simply due to being located in Oklahoma.
Advantages to renter
Renting a duplex combines all the comforts of owning a single-family home with all the benefits of being a tenant rather than a home owner. A duplex usually provides the tenant with more amenities than the typical apartment does, with fewer limitations placed upon the renter. Plus, there is a wider range of locations for duplexes than there are for apartments. Most apartment complexes are built in larger cities. Since Oklahoma mostly consists of small towns and rural areas, it's easier to find duplexes for rent than it is to find nice apartment complexes.
Advantage to owner
Owning a duplex instead of a single-family home or apartment complex also has numerous advantages. Owning a home or apartment complex entails paying property taxes and insurance, as well as being totally responsible for the repairs and upkeep of the unit(s) and attached property. With a duplex, these costs and maintenance tasks are shared with the tenant. A duplex generates more income than renting a single-family home and is less hassle to manage than an entire apartment complex. The owner can choose to live in none, one or both parts of a duplex. If the owner opts to live in the duplex, then the owner at least gets to choose one neighbor. For instance, the owners may use the second unit to house aging parents, disabled relatives, or as living quarters for live-in help. However, the owner can deduct more of the typical homeowner expenses on the state and federal income taxes if renting to a tenant.
Advantages to being located in Oklahoma:
Oklahoma offers a unique variety of climates, topographical features, and environments, all within an easy driving distance of each other. A person can drive from one state line to another within six hours, whether going north to south or east to west. This gives Oklahomans the opportunity to choose from several lifestyles. A person can spend the day in rural areas doing outdoor recreational activities. Afterwards, the person can spend the night in a nearby metropolitan area, enjoying the night life of a large city like Oklahoma City or Tulsa. Many Sooners live in the bigger cities and then use their vacation time for camping, fishing and hunting.