Why A Duplex Could Be Your Perfect Investment Property
If you’re looking to break into the property market, you may be wondering which route is best for you to take while taking into consideration your budget, lifestyle, and needs. While most people immediately think of investing in an apartment, unit, or townhouse, there’s another option that you might not have considered: a duplex.
For the unaware, a duplex is a residential building on one block of land with two separate and freestanding living spaces that come with their own separate entrances and amenities. This makes it an attractive investment option as it can cater for two different sets of occupants. While it’s a popular choice for families with a dependent living with them such as an older relative, there are also many benefits for those looking to invest in one.
Duplex homes range in a lower price bracket than single houses. So, there’s every chance that you may have the opportunity to buy in your dream neighbourhood. What’s more, duplexes are often valued for a higher resale price in comparison to traditional homes. This is because potential investors and buyers can enjoy the benefits of having two separate and freestanding homes.
Finding tenants to rent your duplex – especially if it’s a desirable location – may be easier to find than seeking occupants in a home. Because of the nature of the build being in close proximity to each other on the same land, you may choose to rent out both for more income to a family that has a dependent relative living with them or a young adult seeking more privacy.
As with any investment, you have a number of tax deduction possibilities at your disposal. It may be beneficial to speak to an expert financial planner or property-savvy accountant for more information regarding claiming GST, deprecation, capital gains and operating expense write-offs.
Many duplex designs will fit on a narrow block of land, so you can fit two dwellings on a single piece of land. Essentially, this means that you will own two separate homes that you can choose to rent or sell. You even have the choice of living in one yourself and renting out the other. The result? A passive income stream, with the rented property having the potential to cover some of your own mortgage. Ultimately this means you may be able to pay off your mortgage faster while living the lifestyle you want to live.
With fast approval times, a high quality standard of workmanship, and a wide range of floor designs available, it is little wonder why Provincial Homes has established itself as one of the leading builders in Sydney and greater NSW. Our team of builders have the capabilities to create a home to suit every lifestyle.
Since 1990, we have helped thousands of Sydney locals and families create the home they’ve always wanted. Let’s work collaboratively to help you live the way you want to live.
If you’ve got the motivation and desire, we have a team of qualified and professional builders who are ready to help you live out your investment dreams. For more information about our duplex home designs, come and visit our Box Hill display home or contact us today.