Residential drafting services in the Sutherland Shire explain the financial benefits of building a duplex
When it comes to building a new home, most people consider building only one home on their block, but our residential drafting experts in the Sutherland Shire explain that building a duplex has several advantages for promising homeowners.
A duplex is a residential building that consists of two homes sharing a common wall or a single block of land with two houses.
- If both homes exist on one land title, you can own both and sell them together, or subdivide the land and sell the homes separately. You can also consider renting one or both of the homes for extra income.
- If the homes have separate titles, each one can be individually owned and sold/rented out.
A duplex is a solid investment. It can produce strong value growth and high rental yields for a much lower price than a detached house. Overall, with a duplex, our residential drafing services in the Sutherland Shire explain that you can increase your profit and maximise the potential investment on your land.
Further to this, if you need help to pay off your mortgage faster, consider investing in a duplex. A duplex can create equity quicker than a single home, with the added benefit of generating a higher rate of return.
Many people rent out one side of their duplex and live in the other. This way you will still achieve an ongoing high interest return. The extra income you earn from selling or renting out the duplex can be used to pay off your own mortgage quicker.
On the other hand, you can rent out both sides of the duplex and pick up two income revenues. The rental return rate can make for a positive cash flow from the start.
Building a duplex offers a good introduction to the property game.
To find out more about designing and building a duplex, contact our residential drafting experts in the Sutherland Shire today.