Building Lifestyle Through Investments

Everything You Need To Know About The Cost Of A Duplex

by Nov 4, 2021

Smart landowners are building Duplexes on their plots of land across the Central Coast region in New South Wales. This article will look at what is involved in building a duplex on your land, including the costs you will need to consider. We will look at the benefits for you and your property and identify who you should work with and where you should build to get the best value for your money.

 

What is a Duplex?

What is a Duplex

A duplex is two separate homes that share a common wall and are under the same roof.

Immediate pros of duplexes:

  • Living space

    • You have double the living space. Ideal for a growing family or visiting friends or relations.

  • Additional Income

    • If this is an investment property, you can choose to live in one and rent out the other or rent out both to maximise revenue.

  • Value add

    • The future resale value of the plot has increased. You could subdivide the block and sell one, or both, homes

 

What are the costs involved?

What are the costs involved - duplex
  • Land

    • You will need to own, or purchase, a plot of land big enough to build a duplex
  • Preparation for building

    • The block may need to be levelled before building. The land may need to be partially cleared of trees or bushes. Older buildings may need to be demolished and removed from the site.
  • Council

    • The local council must provide approval for any building work. There are fees and expenses.
  • Building costs

    • The builder must be paid for designing and constructing the property. Ideally, an experienced professional housebuilder will quote a fixed price for the work. You should avoid accepting an estimate from any builder, as, sometimes, the sky is the limit if an unscrupulous builder sees you as an endless source of funds.
  • Landscaping

    • Or ‘tidying up after the builder’! Many builders will take care of the outside of the property, build walls and paths and maybe lay a lawn. Some won’t and it can be expensive if they leave rubble or building materials behind for you to clear up. Take the time to check out previous homes by the same company. Look at photographs and read reviews and testimonials.
  • Fittings and furnishings

    • This includes wall coverings, flooring, kitchen tops. If the builder includes appliances make sure to check their suppliers. If the appliances are from brands you’ve never heard of, it may be better to get them excluded from the build and provide your own. Cheap equipment can, and will, fail and break!
  • Rental

    • Not strictly part of the cost of building a duplex, but if you are building an investment property you will have additional expenses:
      • Advertising

        • You will need to attract a tenant. This will involve advertising in the local newspaper, perhaps, or advertising via a Real Estate agent. Either way, you will have additional costs before you benefit from rental income.
    • Management

      • This is the cost of collecting the rent, conducting regular inspections of the property and arranging for repairs and maintenance, as needed. There are many professional property management companies that will take care of this for a monthly fee.

As with any investment, cost, or outgoings, should not be the biggest concern, as long as you can obtain the funding needed. A smart investor considers the potential returns on the investment (ROI) or whether they are getting the best value for the capital outlay.

Maximise the returns on your investment property with Acrow Investments

Acrow Investments are a highly professional and successful housebuilder. We work closely with our clients to deliver the most affordable project possible whilst maintaining the utmost quality and care throughout the entire process.

We are renowned duplex builders in Newcastle, Lake Macquarie and Hunter Valley areas and have completed some of the best projects across the Central Coast.

Here are some of the benefits you’ll gain working with Acrow Investments:

Choice

We have a large range of available floor plans and designs for duplexes. Some of our options include:

  • Single Storey Duplex Designs
  • Double Storey Duplex Designs
  • 3 Bedroom Designs
  • 4 Bedroom Designs
  • Corner Block Designs
  • Narrow Block Designs

and, of course, working with you we can produce custom designs, to fit your needs and your dreams.

Inclusions

Acrow Investments have a wide range of top-quality inclusions to ensure you get everything included with your new home. We include premium laminate timber or vinyl flooring and our kitchens are equipped with appliances from Harvey Norman and have stone benchtops. We only use the best Australian suppliers, such as Colorbond steel and Dulux paint to make sure your homes look great and are durable, too.

We build homes you can live in, right from day one!

Maximised Rental Income

Our stylish, modern, comfortable duplexes are designed to match and enhance the Central Coast waterfront vibe. Our prices start at less than $500,000 and we will deliver for the price agreed and on, or earlier than, the completion date. Based on current average rentals along the Central Coast, we’d expect you to earn a rental income of $500 – $600 per week, per duplex.

Acrow Investments have hundreds of delighted customers. Why not join them?

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

For more information 

 

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