If you are planning to build a new house on a plot of land, building multiple units is not the first option that comes to anyone’s mind. However, the latest trend is to create a duplex flat, mainly because of the several advantages. First, it helps maximise the potential investment of the land while also allowing you to accommodate your extended family.
Before you learn why you should invest in a duplex flat, you need to understand it. A duplex building is a residential home made up of two buildings. Both the buildings, however, share the same central wall. In the community, this is known as a house behind a house.
In addition, if two homes are situated on the same land title, you can either sell them together or even subdivide the land and sell each of them separately. You can also consider renting one out while you live on the other.
Another reason why it might be a good investment is because you can have each house assigned to a separate title. This way, the two owners can decide what they want to do with their part of the property. For instance, if they’re going to rent it out, sell it or live in it without disrupting the wishes of the other owner.
A duplex building is a solid investment by all means and provides higher rental yields and strong value growth at a much lower price than a detached home. In addition, the owners can insure either building separately or together as far as the insurance goes. Usually, a corporate body is not required, meaning you can skip the corporate fees, increasing your rental income.
What Is The Verdict?
A duplex building will always be a good investment in all its sense. However, you should always compare the advantages mentioned here along with the cons you might think of to understand if it is a good investment for you.
By chance, if you think it is, always ensure that you choose a reputable and reliable builder for the job. Having the best duplex builders in Sydney working on your project will ensure that the building is according to your wishes and that it maximises your profit-making ideas. So rest assured, with the excellent company helping you, there is nothing you need to worry about.
