You’ve heard the term duplex floating around but don’t really know much about them, or maybe you’ve seen duplex house designs and plans being advertised and it sparked your interest but don’t know the advantages of a duplex house over a regular detached house. Well, we’re here to shed some light on the subject so you can make a concise and informed choice when looking to build your first home, invest in the housing market for the first time or expand your existing portfolio.
So what is a duplex? In Australia, A duplex is two houses that share a centralised common wall. Both come with all the usual utilities, amenities and attributes of a regular detached house, including an entrance, driveway, kitchen, bathrooms, and backyard. They also each have a separate mailing address. Duplexes come in various shapes, sizes, and designs however a commonality you’ll find amongst most designs, is that each home in the pair is a mirrored image of each other.
It seems pretty straight forward, but what makes Duplexes so popular? Well, there are a few key points we wanted to share to help that decision making process we spoke about earlier, easier.
Simply put, duplex plans work out more cost-efficient. Duplexes have the added benefit of being two homes on a singular block of land. This is extremely valuable if investing as it unlocks the potential to make double the return on investment. Also, many duplex house designs and plans will fit on smaller or narrower blocks of land, and a smaller block of land translates to a more economical initial price. When it comes to upfront cost and return on investment, a duplex is an unsung hero!
Building a duplex is a great introduction to the property market. Not only does it allow you to earn either one or two income revenue streams, if you do choose to live in one of the homes, you can keep a keen and close eye on your investment, your tenants, and the condition it’s kept in. Add to these factors the ability to self manage the property (collect rent and filter tenants) you’re left with more overall control of the property and have learned new valuable skill sets in doing so.
The current 2021 climate, with its low mortgage rates and small numbers of advertised houses, has created strong demand and caused the housing market to soar. If you’re looking to build in 2021, a duplex plan may very well be a smart move. Duplex house designs and plans maximise the use of space on your land. Filling your land with two houses means very little to no waste, directly resulting in a reduction of landscaping and maintenance required cutting costs and time. The return on investment is also maximised, especially if you choose to rent both homes out. Two rental incomes from one piece of land, how can you lose? Duplex houses are synonymous with producing exponential growth and more often than not strong rental yields, especially when compared to detached properties. With the market being so strong, look at building a duplex house to receive an excellent return.
The ways your duplex can be utilised are virtually endless, If choosing not to rent it out you could let friends and family stay when needed or keep a close eye on elderly parents, all without compromising privacy. In the same manner, you could use the duplex as a location for small business or practice, which is seemingly more professional than the same setup in the family home
With many people looking to invest in property in 2021, and with its overwhelming potential as a sound investment, it’s little wonder a duplex is very appealing. We believe the pros far outway the cons when it comes to building a duplex, and that’s why we choose to offer so many duplex house designs and plans. If you’re curious about duplex plans and prices, click here to discover our range or chat to us live now for more information.