Building Lifestyle Through Investments

Buying A Duplex? We Discuss Duplex Prices And More Here!

by Mar 15, 2022

A duplex represents value for money. This article will list the benefits of owning a duplex and examine the costs involved in construction.
We will also reveal why partnering with market-leading home-builders, Acrow Investments is a smart decision.

What is a duplex?

A duplex consists of two homes under a single roof. They may be built side by side, with a common wall, or front and rear, with an attached garage between them.

What are the benefits of building a duplex?

Why A Duplex Just Makes Sense. Everything You Need To Know - Bed room

Value for money is key. You are getting two separate new homes for the price of a single build.

Space for living

With a duplex, you will have another entire house-worth of space! This gives you many options:
Family

  • If your family is outgrowing your home then you can share two homes instead. If you have growing children, they can have the independence and responsibility of living in their own home. You can keep an eye on them and could charge them rent, as an introduction to the world of independent living!A benefit of living in two homes is privacy for the occupants of both dwellings plus the security of having family living next door.

Guests

  • Do you enjoy entertaining? If you are lucky enough to live in a great location, it’s likely your friends or family love to visit you for a few days or so, now and then. Imagine the sense of luxury for them of having an entire house for their stay.You have the bonus of being able to get together for meals, drinks and chats at either house then relaxing in the peace of your own home at the end of the day.

A financial bonus?

Building a duplex is a smart financial move. Here are some of the ways you will be able to benefit from your investment:
Rental/let

  • Having two homes gives you the opportunity to increase your income. You could rent out one of your dwellings and, depending on your location, the rental income may cover all, or part, of the repayments on the loan for construction of the duplexes. With your rental property being close to home, you could save on the cost of hiring a property manager, collecting rent yourself, maintaining the property and generally keeping an eye on your tenant.Another option is short term lets. If you are in a location with many visitors, perhaps close to a CBD or a tourism hotspot, you could consider letting your duplex for short periods. You could reduce costs and boost your income by managing and cleaning the property yourself.

    Air B’n’B-type arrangements give you the advantage of deciding exactly when you have tenants. If you have other plans for your home, you can easily keep it free for your own use.

Sell one/both

  • This may be regarded as an ‘instant win’ if you are able to sell your property for more than you spent on construction and land.You could subdivide the property and sell one of the duplexes, keeping the other as your home. Or you could sell both, as two separate homes.

Land value

  • Your block will have increased in value. When you sell your land in the future you will be selling twice the living space. If you subdivide, you will be selling two homes, as above.

What costs should I consider?

Buying A Duplex We Discuss Duplex Prices And More Here! - Living area

As with any house-building project, there are additional costs to be considered in addition to construction. For a duplex, these additional costs may include:
Local council approvals

  • In NSW, your plans must meet local council requirements and you must obtain approval before beginning construction. There are forms and other paperwork to be prepared and delivered to the council according to their approval process.

Design/Architect

  • A professional architect and/or house designer will need to draw up plans for council approval and prepare the designs to be used by the construction team who will build your duplex.

Construction

  • The construction phase will require experienced house builders, plus the costs of land preparation, building materials and plant and machinery hire.

Fixtures and fittings, appliances

  • Your builder may offer a standard set of fittings, flooring, appliances and may charge more for any changes requested or for premium suppliers.

Tidying up, plus Garden/landscaping

  • You will want the interior of your duplexes to be cleaned up after construction finishes. Ideally, you will be able to move in when the keys are handed over, with gardens/landscaping in place.

Get the benefits with Acrow Investments

Acrow Investments include all the above costs in a single fixed price quotation. There are no hidden extras. You know exactly how much your duplex build will cost. We include top-quality, inclusions and appliances from big-name suppliers as standard and we finish our construction phase with a complementary builder’s clean of the property interior.

We are proud of our history of delivering all of our new homes on the date we agreed. When we hand you the keys, you will be able to move into your duplex and live in your new homes straight away.

Don’t miss out. Contact Acrow investments and discuss your duplex property dream today.

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