When buying a 1/2 duplex who is responsible for the exterior improvements?

Question

On my property search I found a 1/2 duplex for sale that needed some work on the interior & exterior.  Who is responsible for the improvements to the exterior of the home (painting, roof, driveway repair, landscaping/lawn)?

Anyone familiar with buying 1/2 of a duplex?  What was your experience?

Is there typically a developer/HOA that owns the common areas and will provide the exterior improvements?  I'm sure it depends on the property, but any input will help.

Thanks.

David Robertson · Answer

Hi Dane,

I did not move forward with this deal.  From what I recall the resale values in the area, scope of repairs didn't make the deal worth pursuing.

To date, I have stuck to single family residences, but I'm sure there are opportunities to rehab and/or rent 1/2 duplex project if the #'s make sense.

Dane Peterson · Answer

@David Robertson Hey David, I put an offer in on a 1/2 duplex yesterday and not too confident it will be accepted but regardless, I'd like to know if you ever moved forward with yours?

Anthony G · Answer

Like Jon said, I've seen party wall agreements around here, but I'm not sure on exactly how they work.  I assume no HOA, but a shared liability?  Are you interested in doing a flip or hold?

David Robertson · Answer

Only 1/2 duplex is for sale, but a whole duplex would definitely sweeten the deal.  I've never really looked at 1/2 duplexes as an investment, but this one was cheap enough to do a little further research.  The unit is listed at $34,000 and needs some work, but it is in a good school district, decent neighborhood.  I've put it on my watch list.

Thanks for the feedback.

Anthony G · Answer

Is it a good deal?  There are quite a few of these split duplexes for sale in Indy.  Personally I stay away.  I don't like risk of the other side going to hell and ruining my investment.  Plus, why buy half a duplex when you could buy a whole duplex?

Jon Holdman · Answer

There will be some agreement that covers this.  Could be  an HOA, though in our area, "party wall" agreements are more common on duplex splits.   It might also be totally separate.   If you want a new roof you put one on your half.   In any case, there should be something in the legal documents for the property.