Is Building a Duplex a Good Idea?

In a word, yes. A duplex is a great idea because it’s a simple way of owning a property in the suburb of your choice but at a much lower price than surrounding detached houses. Any investment in real estate needs to consider several things the most important of which is re-sale value.

This is where the duplex shines. Re-sale value continues to improve because of the nature of the building.

• It has its own land
• Its purchase price is highly competitive
• It has only one neighbour on the property
• Duplex living is what a lot of people want

What is a duplex?

It’s a unique piece of real estate. It’s not a block of apartments and it’s not a free standing traditional house. A duplex consists of two houses, joined by a central shared wall, on the same property. Unlike an apartment, a duplex has its own land and doesn’t have many fellow residents as you find in an apartment block. There is so much to like about a duplex.

So if you’re looking to buy, to build or to invest, putting a duplex at the top of your list has any number of benefits. When you purchase or invest, finding a property which offers solid rental returns or re-sale value is vital and a duplex offers both.

Building a duplex

Experienced builders will tell you that building a duplex is not the same as building a traditional home. There are number of steps you need to take in order to make your project the best success possible. Planning beforehand, not rushing in but weighing up the many possibilities first, is the sensible and recommended way to go. Here are some tips, some basic steps for you to take to ensure your duplex is a financial and architectural success.

• Talk to an experienced builder
• Talk to a town planner
• Know the local authority rules

It sounds simple but it’s true. The best way to get the best duplex is to engage the best builder. Someone who is experienced at building duplex properties and has the track record of success in the industry is your best bet. Reputation is everything in business and never more so within the building trade. Choose wisely and well.

Right from the start you can get advice on the land you want to buy, the design of the duplex and the process of getting approval from the local council. These are essential issues and you can get the best advice on all three from a single source – your professional builder.

Understand that building a duplex is not the same as building a one-off traditional home. For a start a duplex is listed as being multi-occupancy. That’s the nature of the duplex – two separate properties on the one block of land. So that means the local council will have different rules and regulations.

You see a duplex is not a block of flats or a series of townhouses but it is multi-occupancy. It has separate dwellings on the same title. That brings in a unique set of rules and building regulations so all the more reason to work with a builder who’s been there and dome that.

And then there’s the design of your duplex and what is possible on the land you’ve chosen. Your fantastic design might not sit well on a particular piece of land. Talk to your expert builder and sort out any issue BEFORE you make a start. Remember too that the local council may have things such as a heritage overlay in your area. Your experienced builder will know about these things and be able to suggest design ideas which will be approved by the council.

Town planners

exist as a sort of go-between. They deal with builders and owners/investors on the one hand, and with the council on the other. You need to chat to the town planner. He or she can make approval of your duplex so much easier. The town planner knows what the council wants and what it will allow. If your builder has worked with the town planner before, all the more reason why you should hook up with these two partners.

Your local council

decides what can and can’t be built. Getting on with council is the best way to get your duplex built in the shortest time with the least amount of fuss. Councils are fixtures. They have been there for ages and will still be there long after you’re gone. The best way to achieve success with council is to have a professional builder and town planner in your camp.

They are the experts, the experienced professionals, and they can advise the best way to obtain approval and clearance from council. Doing it yourself has the potential to delay and delay again. That means your investment property, your duplex, and possibly your home, will not be available when you want it. Trust the professionals to get the job done right first time every time.

Now for the land

Finding the right piece of land can be tricky. Again, once you have a professional builder as your partner, they are in the position to give you sound and practical advice. They may even know where the best land deals are at the present.

And of course there is always the possibility of buying a property which is available for demolition. This can be the way for you to build your duplex in an older suburb, one where you would like to live or to have an investment property. Builders have their ear to the ground and can give you a tip on the quiet.

Talking to your professional builder is the best way to find the ideal piece of land.

Conclusion

A duplex is a brilliant way to invest in real estate. Demand for rental in a quality duplex is high. Resale values are high. But to make your project the best success it can be, talk to your professional builder first.