DUPLEX BY DESIGN
With Sydney house prices sky-rocketing, Newcastle and the Hunter Valley are proving smart places to build an investment property. One of the most savvy investment choices for these areas is a duplex, as they have great appeal for those looking to build and sell, as well as those looking to live in one half and rent out the other.
Who wants to live in a duplex?
If you look at the demographics of Newcastle and major Hunter Valley towns such as Maitland, you’ll see a significant proportion of the population falls within the 20-39 age bracket. This is exciting for investors looking to build a duplex. Why?
Firstly, a big chunk of this age group are first home buyers for whom a duplex is a great way to get their foot in the property door. While they might not otherwise be able to afford the average price of a house in some of the more affluent suburbs of Newcastle and the Hunter Valley, with a duplex they can live in one side and rent out the other, thus making their mortgage repayments more affordable. So if your investment plan is to build a duplex and sell both sides, there’s no shortage of potential buyers.
Secondly, many of those in the rental market also fall within this age bracket. Again, while many young people dream of living close to the beach or in the heart of the action, they often can’t afford to rent a large house. Build a duplex and you could live in one half and your chances of getting the rental return you’re after on the other half is high. What’s more, by living in the other half of your duplex, you can keep a close eye on your investment.
Choosing the right design
Once you decide that a duplex is the right investment choice for you, it’s time to consider a design. Here are some of the important things to consider before you make a final decision on a plan.
It’s best to have your block before you choose a duplex design. While you no longer have to look for a large block to build a duplex as modern designs cater to different sized blocks, think about aspects of the land that will affect day-to-day living such as sunlight and aspect to make sure that the design you choose provides optimal conditions for both occupants.
If you’re going to be living in one half of your duplex, how do you envisage your home to look? It’s important to make sure your design fits your lifestyle. For example, how many bathrooms do you need? Are you a one or two car family? If you have children, would you like all the bedrooms to be together or separate? How many storeys do you need? If you choose Valley Homes to build your duplex, you have a choice of 10 designs that cater to all sorts of lifestyle choices.
The beauty of a duplex is that the price of the build is comparable to a house, but the rental or sales return you gain makes it very affordable. Still, it’s important to be realistic about your budget and stick to it. Thankfully, with a reputable builder such as Valley Homes, you have a choice of duplex prices.
Valley Homes’ custom design team is waiting to talk to you about building a duplex, so why not take advantage of their extensive experience and get in touch today.