23 Nov Benefits of building duplex house
When you’ve secured your land permits, verified your deed and you are finally ready to break ground on your dream home, most people rarely consider building a duplex a residential building. The thought of two houses being constructed on one plot of land may disagree with your vision of a single-family home. In addition, building a duplex may feel like an expensive venture. However, there are many benefits to building duplex houses that you may initially overlook. These include a duplex’s ability to produce staggering returns on your initial investment.
Here are some key benefits you will experience when you build a duplex in Sydney.
1. Increasing your investments
If you think that a duplex is an expensive property that will be a huge financial liability. Duplex houses are built by subdividing a large space into organised lots. So instead of building one huge house for your family to live in a duplex home design allows you to build two smaller houses on the same piece of land.
When you build a duplex it has a greater potential to produce equity.
As such, over time you will begin to see the value of your duplex lot increasing, which may not always be certain with a conventional house. In addition, you’ll get to sell two lots, not just one. For example: if your duplex cost $500,000 dollars to build, due to their ability to generate high returns and their dual quality, you’d typically be able to sell both houses for $300,000 each. With this, you’ve already made a 20% profit of $100,000 dollars.
2. Accommodating more family
It may be easy to think that if you build a huge house your family will be well accommodated. However, this is rarely the case. When you build one big house a significant portion of that land is going to disappear in giving you the perfect garden and yard. As such, you’ll usually end up being able to create only 1 or 2 spare bedrooms. If you have a smaller family this may not be a problem.
However, if you have grandparents, take care of nephews, nieces, brothers, or sisters that may also be dependent on you, a single home will definitely not do. This is where duplex houses will fit in perfectly. They allow you to build smaller fully furnished lots that can sufficiently accommodate your entire family.
3. Make even more money
You can make a lot of money by selling your duplex for significantly more than it took to buy the land, to find the right duplex builders and buy acquire furniture, etc. With a duplex, you can rent each room out for $300-$400 dollars a week. This will keep a steady stream of money flowing into your bank account. In addition, you could also turn the second home into a BnB, which will allow you to draw even more revenue.
At GBC, we believe in the power of the duplex.
Not only will we make you the perfect duplex design for your land, we can also provide you with a competitive price. Contact us today and we will make all your custom duplex house dreams come true.
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