When figuring out the cost of building a duplex, there are things you should think about before going about the building process. Asking yourself these few questions may help you determine how much it will be to build a duplex and decide whether it is right for you.
Why should you build a duplex?
There are many reasons why building a duplex may be beneficial. Essentially a duplex can generate more financial stability with options to rent out both sides, sell both sides, or rent or sell one side and live in the other. Building a duplex also gives you breathing space if you want to buy another property by taking some equity out of that property to purchase another. In addition, duplexes provide you with another source of cash flow. Double the income is generated from the cost of a single piece of land - basically two for the price of one.
Why is building better than buying off the plan?
One of the main reasons why homeowners prefer to build a home to live in or have as an investment is because they can increase the value of their home over time. An added bonus is not having to worry about replacing old plumbing, and appliances for a while. The cost of building a duplex may sometimes be a deterrent however, building actually gives owners the flexibility to stay within budget. Unlike buying off the plan, customisation is one of the main reasons why owners choose to build a duplex. Many Sydney homeowners choose the trusted team at We Build Australia as their builders for their uncompromised quality and competitive prices.
How much to build a duplex and are you financially able?
When assessing how much it is to build a duplex you can be faced with a lot of unknowns such as, extra costs, unforeseen problems and risk factors. The ﬁnancing planning for developing a duplex is very different to buying a standard investment property, so it’s important to engage specialists to talk you through all the potential costs. While it may cost more to build a duplex than a single standing house, it’s remains less expensive than building two houses. This is because both dwellings are on the same block maintaining lower land costs as opposed to two separate lots. At We Build Australia, our duplex home builders will advise you on how building a duplex home can meet your financial goals. With site-assessment, fixed costs and efficient development, our duplex builders focus on providing you with the best value to maximise your earnings.
So after a deep analysis of the costs and benefits of building a duplex, speaking to the right people should be your next step. the friendly team at We Build Australia can assist you with any queries you may have as well as, design, certify and build your quality duplex on time and within budget. For more information call us today on 1300 000 122.