DUPLEX DESIRES STILL STRONG
Talk in the property market has started to focus on the ‘property boom’ being a thing of the past. As any astute investor would know the property market has actually been gradually slowing for a few years now and this is because of a number of factors, namely bank lending changes and demands for new housing being met (because so many great new homes are being built!)
For investors who are looking for long-term projects the market is still in great shape and duplexes are still high in demand.
The reason duplexes have been relatively untouched in this slowing market is that they provide some of the best value investment options – that is duplex plans and pricing structures are attainable for a large portion of the investment builder market. Plus, depending on the land ownership status of the investor, such as when the property is already owned by the investor, knocking down a single standalone dwelling to build multiple modern homes with cleverly thought out duplex house plans means stalling land values aren’t a deterrent – the investment value still increases with the build. This is because the opportunities for investment yield can be met through other avenues, such as renting, which is an area of the market that is still very strong.
So what is the cost to build a duplex?
The cost to build a duplex is reliant on many factors, which might include land size and slope. The condition of the land also plays a part – does it need clearing, substantial levelling or retaining walls built to prepare for most of the standard duplex home designs? Also finding a suitable builder that has the experience, access to quality cost-effective materials and has the local contacts to keep costs down can also dramatically affect the final duplex build costs. Council requirements may also contribute to the overall budget and this will be determined by the location of your proposed duplex plans.
But to give you a solid indication of pricing beyond those outlying factors Valley Homes has a very transparent and open approach to displaying duplex plans and pricing. Our website has ten complete duplex house plans, which include the starting or base-level cost to build a duplex in each particular design range.
Let’s take a closer look at our duplex floor plans and pricing
Myall duplex house designs: This is the starting point for many first-time investment builders due to its competitively set base price. But just because it is great value doesn’t mean it lacks any of the features the market demands. In fact, the Myall’s duplex house plans offer a three bedroom, two bathroom, and one car space design per unit, cleverly set out to require just over 130sqm per unit. So it’s easy to see why this one is popular.
Depending on overall plans and investment goals, and taking into consideration whether your rental or selling target market requires a higher level of inclusions, then the duplex floor plans best suited to your investment might require a slightly higher cost to build a duplex. This might be because there will be a need for larger sized rooms, more living space, high-end finishes and fittings, more levels, and/or more car spaces. Our Sands duplex floor plans and our Bay Breeze duplex floor plans have proven very popular for that slightly higher end of the investment builder market.
Which buyers and renters are drawn to duplex living?
Duplex home designs are more than just attractive investment options because of how they provide opportunities for increased equity, sometimes double the equity, without doubling the investment outlay. Duplex homes are unique in that they are relatively low-risk investments, can secure strong financial returns, all while boasting broad market appeal; empty nesters, first-homebuyers, retirees and families are all drawn to the benefits of duplex designs. Plus, all of the categories listed above are drawn to duplexes as both renters and buyers – highlighting the strength duplex home designs have in today’s property market.
Finding the right builder for your investment
For a range of contemporary and competitive duplex plans and pricing Valley Homes is a Newcastle, Hunter Valley, Maitland and beyond duplex specialist. Our team of expert duplex designers and construction supervisors can build highly desirable duplexes starting at very cost-effective base prices and we are excited to discuss specific land requirements, council regulations and ideal duplex floor plans to set in motion any savvy investor’s duplex investment goals. Valley Homes can manage as much or as little of the planning process as necessary. Getting in touch is easy, simply call us on 02 49341400 or email us at sales@valleyhomes.com.au
Duplex inspiration from our gallery - SEE MORE
RELATED DUPLEX ARTICLES
Liveable lovable homes for your retirement: duplexes and dual occupancy
Duplexes are built for Hunter Valley investors
Building a duplex: the upsides to downsizing
MULTI-UNIT DEVELOPMENTS – ON THE RISE AS NEWCASTLE EXPANDS
Newcastle region has seen steady growth for some time with many people attracted to the lifestyle opportunities, growing local business sector, easy access to Sydney businesses, close proximity to the Hunter Valley wine region, as well as being home to the University of Newcastle. The families, professionals, businesses, and students choosing to call the region home have been instrumental in the subsequent increase in medium density housing demands and the building boom, which investors and developers are actively capitalising on.
Newcastle’s current building landscape consists of a mix of high-rise office blocks, high-density living options, medium density multi-unit housing developments, plus infrastructure projects. Our Sales Manager, Kaye Purdon, recently reflected on the changing face of the city and its surrounds, “Newcastle City is booming with the development of Newcastle wharf, the light rail and nature corridor, and University of Newcastle City Campus ‘NewSpace’ opening earlier this year. Multiple cranes dot the skyline at any one time and a combination of high and medium density housing options are providing home buyers a great array of building and purchasing options.”
One of the most exciting attributes of this increase in development investment is that the boom extends beyond the city centre. Areas around Newcastle are also benefitting. Many multi-unit developments in the surrounding suburbs of the University of Newcastle’s Callaghan campus, namely Birmingham Gardens, Jesmond and Wallsend, are providing more affordable multi-unit options with great rental opportunities for University students, as well as young professionals wanting affordable housing with the aim to commute into the city centre. Plus, Lake Macquarie is also undergoing great change. The building boom is definitely widespread across the region.
Multi-unit developments are also now more frequently built in areas traditionally associated with free-standing homes – a trend which is opening up new opportunities for investors, developers, builders, as well as home owners. Valley Homes has recently worked on projects in Jesmond, Warners Bay and Maitland, as well as substantial multi-housing estates, including Thornton’s Wirraway Estate (Defence Housing). This shift in the building and housing market is in direct response to the need for more affordable housing developments in regional areas, particularly as land is at a premium. It’s a part of the Valley Homes’ service that we really pride ourselves on: contributing to providing affordable housing to the Newcastle region.
Many of the multi-unit projects Valley Homes has built are for repeat clients. As Contract Manager, Jane Craig, agreed schedules, budgets and scope of works are the cornerstone of maintaining strong client relationships that keep clients coming back for more.
For example, a solid client relationship was established with ABL Property on the Jesmond multi-unit development, which featured 16 single-storey villas and four two-bedroom double-storey townhouses. “We delivered the end product well within the contract period to ensure the client was able to meet their scheduled handover and settlement of the properties to the purchaser of the development. This meant working extremely closely with the developer during the end stage of construction, including meeting all requirements of the certification and issuing of the Occupation Certificate and going above and beyond on delivery.”
Beyond the successful outcome of this recent Jesmond development, Valley Homes has built hundreds of affordable medium-density homes all across the Newcastle region. Recently Valley Homes completed a 25-unit affordable housing project for the Catholic Diocese of Newcastle/Maitland in Mount Hutton, we are up to Stage 4 (totalling 130 dwellings) for a Defence Housing project at Thornton, and several multi-unit developments in Wallsend and Birmingham Gardens. We will also commence construction later this year on an 8-unit development in East Maitland.
Our team has delivered many diverse and contemporary multi-unit builds – up to 130 in a single project – and we pride ourselves on the fact that the finished homes have great appeal and character, are built to the highest building standards, while capitalising on smart material choices and streamlined procedures. Single-storey villas and double-storey townhouses are our most popular building options, however the finished design comes down to the unique site affordances, council regulations, as well as the developer’s budget and investment goals.
Looking for a multi-unit developer? Get in touch today
Need ideas? Browse our Gallery of recent developments
Our team of multi-unit development specialists are happy to discuss any upcoming projects, design trends, affordable building options, as well as budgets and timeframes to give any prospective multi-unit developer all of the information they need to make an informed choice – contact us at sales@valleyhomes.com.au or phone 02 4934 1400.
Recent articles:
BUILDING 1 HOUSE A WEEK FOR DHA SPECIAL HOUSING PROJECT – WIRRAWAY ESTATE, THORNTON
HOW WE KEEP OUR CLIENTS COMING BACK FOR MORE
VALLEY HOMES’ WHS MANAGEMENT SYSTEM IS A WINNER!
Adequate Workplace Health and Safety (WHS) is crucial to the health and well-being to our entire team, as well as our contractors, suppliers and clients. Which is why we are thrilled with our recent win at the 2018 Hunter Safety Awards taking out Best WHS Management System (SME).
We believe our win is due to a culmination of experience, team work, innovative thinking, and stringent health and safety practices – and we couldn’t have done it without our WHS manager, Nathan Ford. Here’s what Nathan had to say when we chatted to him about what the win means to Valley Homes and how it was achieved:
What does it mean to Valley Homes to have won this Hunter Safety Award?
Over the years we have worked hard to improve our WHS standards and now being recognised for that work is a huge achievement. It truly is a great pat on the back for the team, particularly as it is such a competitive category and it was our first time entering the award.
As a Hunter Valley business and valued local employer what are the benefits for participating in awards such as the Hunter Safety Awards?
The benefits are huge! We get to do interviews like this…we get to dress up, go out with the team, have fun, and celebrate quite a serious part of our industry. We are also recognised by our peers from across the industry and so the team benefits from a shot of moral; we hope our clients recognise the effort too.
How did this particular winning WHS Management System design come about?
Through a need to provide one of our major clients with stringent WHS site management and reporting, we developed a system that ended up exceeding the client’s expectations, as well as being easily adapted to suit our overall WHS strategy. Specific needs on site were addressed and became part of our standard WHS model.
The particular site that this winning WHS management system was developed for required special attention to the risks and treatment of extreme weather (high wind). The safety officer and site team developed the risk assessment and methods of measurement to allow accurate reporting to the client with regards to safety whilst working at heights.
Why do you think Valley Homes’ WHS Management System stood out to award judges?
About two years ago Valley Homes’ safety manager found a hole in the current rules and regulations that previously had not been addressed and so we developed a policy about Extreme weather in the construction sector. Also, after progressing to the finalist category we were interviewed on site so that judges could see, firsthand, how Valley Homes conduct their everyday processes and how the WHS Management System was implemented.
What steps go into the implementation of WHS Management Systems?
At the beginning of each project the WHS officer completes site specific inductions, risk assessments and prepares relevant Safe Work Method Statements (SWMS) and documentation. The supervisors are a part of this process and are instrumental in instilling a real WHS focus on site, particularly in relation to engaging with the wider trade base. Fortnightly reviews with the supervisor team is a large part of keeping a solid WHS culture.
Why is WHS so important to the Valley Homes team?
Safety is part of everyone’s day-to-day life. Valley Homes recognises this and actively embraces a ‘Work Safe, Home Safe’ mentality. Valley Homes is not just a building company, we are a family that looks after each other trade by trade. The relationships we have built over the years with subcontractors and trades have meant that all businesses now associated with Valley Homes know that safety is a huge part of our business ethos and they embrace it as much as we do.
Does Valley Homes have a good workplace safety record?
Valley Homes has had a very good safety record where in the last four years we have had one accident by a subcontractor, which was minor, and one near miss. The subcontractors that work alongside Valley Homes are very well informed with all safety rules and laws in NSW in the construction industry.
You can work with our award-winning team
If you are a Hunter Valley local looking to work with Valley Homes in any capacity, be it as a client or contractor, you can be assured the WHS and occupational safety strategies are in place to keep all parties safe, whenever you’re on site. Our incredible team will make sure of it.
LIVEABLE, LOVABLE HOMES FOR YOUR RETIREMENT: DUPLEXES AND DUAL OCCUPANCY
Duplex and dual occupancy builds provide more opportunities for Hunter Valley seniors than simply downsizing to a modern, low maintenance home. Customised duplex plans that employ fundamentals in universal design and liveable housing for floor plans, as well as selecting suitable fixtures and fittings, will ensure your property investment is one that you can grow old in, comfortably.
If you are reaching a point in your life when you are ready to simplify, to say goodbye to your expansive backyard or that fourth bedroom, then there are many great options for Australia’s largest growing demographic – the over 55s. However, we believe dual occupancy builds and duplexes are two of the best options when it comes to affordability and long-term independence, because you can sub-divide or optimise use of your current land, build equity or even create an income stream, all while allowing you to maintain your connection to your current community. What’s not to love about that!
Universal design and liveable housing
Universal design is a broad design concept focussed on inclusivity and accessibility. Liveable housing is based on this concept and aims to encourage floor plans that, “respond effectively to [people’s] needs without requiring costly and energy extensive alterations” – read more here – and its incorporation into home design is increasingly important as Australians are living longer. Essentially, this means if you want to live independently or live in your own home for as long as possible there are some things to consider during the design phase to improve your quality of life, as well as reduce the need for retrofitting or restructuring as you age. Liveable housing design combined with easier to manage and maintain floor plans in duplexes and dual occupancy properties make this a retirement plan worthy of your investment.
10 tips to live independently longer in your new duplex or dual occupancy:
1. Single-level design – stairs can become difficult to manage over the years. If a single-level design suits your needs and property size then generally speaking single-level is ideal.
2. Multi-level design is ok too – of course, single-level isn’t for everyone. For example, if you want to build a two-story townhouse/duplex, simply speak to your designer about ensuring stair widths accommodate a staircase lifts, so if you require one at a later date there is no need to modify your home. If you are going higher than two-levels, talk about the possibility of a cavity to allow for a vertical lift at a later date. Provisions for grab rails is something you can also discuss with your builder. While lifts and rails might seem like a very distant concern, it’s planning like this that can save you money in the long-run.
3. Non-slip flooring – low-pile carpet is a popular solution that is comfortable underfoot and helps avoid falls. It can be used with walkers and the grandkids’ prams too! In kitchens and bathrooms opt for non-slip tile solutions, available from all good tile suppliers.
4. Good lighting design – visibility in a home is important for all ages, but as eyes age their ability to identify trip hazards is often reduced. Bright, functional lighting is key and consider two-way switches for walkways that have two entrances.
5. Easy car access – ensure car access is as easy as possible with internal access to the home. Electric garage doors are also a very useful addition.
6. Customise your kitchen – while most of the time you will want a standard height bench, consider a feature breakfast bar that is lower or modular to accommodate for being seated while preparing your meals – and it will look great too.
7. Taking the bath out of bathrooms – generous sized showers without lips on the entrance are not only on-trend, they are very practical. Hand-held shower heads are also a great option and make sure the toilet is easily accessible. Remember to pay attention to your floor tile choice so it is non-slip.
8. Lever-style door handles and single handed tap ware – being able to move through your home without struggling through doors is a quick choice now that can suit your needs for the longest time possible. Mixer taps are also easier for ageing hands, plus help reduce scalding injuries too.
9. Alfresco, yet sheltered sunshine – clever property placement on your land will ensure you get northern sun in winter, giving you an outdoor space to relax and enjoy your retirement any time of the year.
10. Liveability landscaping – as well as making a striking design statement high contrast pavers can help avoid falls. Including garden beds that are either raised or planted with low-maintenance plants are also a great addition.
So if your retirement plan is to live at home as long as possible, continue to enjoy your community while reducing the need for home maintenance and future renovations – we recommend you invest some time looking into a Hunter Valley duplex or dual occupancy build. We have a range of dual occupancy and duplex plans and prices that are all customisable, and our team of experts are ready to talk you through all elements of the design and build process.
More articles on dual occupancy and duplex builds by Valley Homes:
Dual occupancy property - simplified
The developer’s go-to: dual occupancy
Live-in investors and dual occupancy
Building a duplex: the upsides of downsizing
Duplexes are built for Hunter Valley investors
MORE FROM OUR GALLERY: Dual occupancy and duplex living
BUILDING 1 HOUSE A WEEK FOR DHA SPECIAL HOUSING PROJECT – WIRRAWAY ESTATE, THORNTON
Defence Housing Australia (DHA) creates new communities to house defence force families all across Australia. One of the most exciting elements about their many property developments is the focus on environmental sustainability, social interaction, and carefully considered house designs. In the DHA’s Wirraway Estate they’ve worked extremely hard to ensure the 500 families (250 of which will be members of the defence force) feel at home in this innovative Hunter Valley town – and Valley Homes is proud to be building another 40 incredible homes over 35 weeks for 2018’s Stage 4 build.
Wirraway Estate is a certified EnviroDevelopment
As a certified EnviroDevelopment each home built in Wirraway Estate will have a minimum 6-star energy rating, feature solar panels, a 3000 litre rainwater tank, and comply with strict landscaping and house design guidelines to maximise natural solar access. This is an exciting new way of building estates and property development in general, which has a clear focus on sustainable living. It is part of our complete service to new home builders who are buying into Wirraway Estate to ensure all environmental guidelines are met before we submit any plans to Maitland City Council on our clients’ behalf – simplifying the path towards a new home.
Through our work on earlier stages (Stage 3 now selling!), we can confidently say building a home in a development that is focussed on minimising environmental impacts, maximising sustainable living, and promoting healthy lifestyles can only be good for the families who will get to reap the benefits of such a thoroughly planned town – and through our comprehensive services the process is very similar to building without house design guidelines.
Architectural vision and harmonious aesthetics
From environmental enhancement through to the house designs themselves, every element of Wirraway Estate has been planned down to the finest detail – and our team of house designers at Valley Homes have become true experts at designing a DHA compliant home in-line with the overall architectural vision of the Wirraway development. This includes working with clients to ensure correct building orientation and siting is achieved, facades suit specific neighbourhood theming, roofing is consistently pitched and finished, garages and driveways are thoughtfully positioned, outdoor entertaining areas enjoy ample winter sun, preferred materials and colours are adhered to, as well as allowing for future landscaping.
While the guidelines are comprehensive the DHA actively encourage innovation and variety in architectural expression, so there is ample room for home builders to design a home that reflects their unique personality and lifestyle, while seamlessly fitting into the aesthetics of the estate – and our property designers get to do what they are great at, design beautiful, liveable homes. In fact, one of the homes we built in an earlier stage for Wirraway Estate was nominated as a finalist in the HAI Awards 2017.
Quality construction and safety
With so many homes to build in such a short period of time it is paramount that construction quality and safety isn’t compromised. We are proud to announce that Valley Homes are finalists in the Hunter Safety Awards 2018 for our Workplace Health & Safety processes on all of our DHA sites. Our project managers have proven in earlier stages of construction that our upcoming Stage 4 works are set to continue to deliver new homes of impeccable workmanship and building quality.
In line with the DHA’s environmental commitments, there is also a focus on using recycled materials and reducing waste where possible in Wirraway Estate, this includes utilising materials with low volatile organic compounds to improve indoor air quality. It has been a rewarding process for our house designers and builders to work together to ensure the building solutions live up to these requirements while delivering liveable homes for our clients.
Stage 3 now selling – Stage 4 on its way!
A truly special housing project, Wirraway Estate in Thornton is at times a logistical, design and environmental challenge. However we are proud to have exceeded expectations in earlier stages and are continuing to build 40 incredible homes in Stage 4. Central to Maitland and Newcastle, and of course not far from the RAAF Base in Williamtown, the new estate has many positive attributes in addition to its innovative town planning and house designs. Location benefits include established shopping areas, as well as quality school and childcare facilities. Making it an exciting project not only for our team but also for the community who will call it home.
If you would like to see some of the homes we have built in earlier stages to help draw inspiration for your own piece of Wirraway paradise, please take a look at our gallery. It is exciting to see the variety of house designs and floor plans that are possible in a beautifully planned, environmentally sound, modern estate.
Simply get in touch with our team today if you are interested to find out how you can be part of this innovative Thornton-based, Hunter Valley community.
WIRRAWAY ESTATE - Stages 1 and 2:
THE DEVELOPER'S GO-TO: DUAL OCCUPANCY
Subdividing a block of land so that it can hold more than one single property may seem like a daunting task, especially if you are not an experienced property developer. So it may be surprising to discover most property developers’ experiences of dual occupancy builds are they’re one of the simplest ways to increase equity, pay off home loans sooner, and/or generate a rental income – all with relatively low associated risk.
A reasonably sized block of land is the ideal starting point for property developers looking to build a dual occupancy home, but there are many considerations and available options when it comes to subdividing land. To get an understanding of all of the dual occupancy basics first, take a look at our article Dual occupancy property – simplified. It gives you a quick outline of key advantages, what land types work best, and property market appeal. Our recent article, Live-in investors and dual occupancy also outlines the different sale and rental options commonly associated with dual occupancy investments.
Dual occupancy’s low risk reputation
If you already know all of the basic fundamentals about dual occupancy and want to know more about why dual occupancies are the go-to investment option for experienced and first-time property developer alike, well it often comes down to how low risk it can be. For example, property developers intending to rent both properties generally means the serviceability of the home loan is immediately improved. That is, if one tenant moves out you still have the rent of the other to service the home loan, which is something the banks (and property developers themselves) appreciate.
Another reason dual occupancies are seen as low risk investments is property developers can double the equity without doubling the investment – taking a single block of land to potentially yield two income streams (whether through renting or up-front sales). This reduces the immediate cost usually associated with buying two blocks of land, and also improves the likelihood of achieving positive cash flow sooner. Plus, this means a single block of land achieves a higher return, either immediate or ongoing, than the particular suburb it is situated in would usually be able to offer. This is a particular benefit to property developers building on land they already own.
Loan serviceability and positive cash-flow aside, the low-risk reputation of building dual occupancy homes also stems from the current property market. Newcastle, Maitland and the Hunter Valley are currently experiencing a very healthy market in relation to the appeal of dual occupancies. Demand for properties is high, and buyers and renters are increasingly seeking medium density living situations. These particular characteristics of the market drive up potential returns on investment and increase security.
Experienced dual occupancy builders help maximise gains
If you’re thinking of building a dual occupancy home, but would prefer to manage the entire process and build it yourself, you should be aware that as per the NSW Government Fair Trading ‘Major changes to home building laws’ announcement, since 2015, “Owner-builders are prohibited from getting a permit for a dual occupancy except in special circumstances.” You will also need to comply with the extensive dual occupancy checklist issued by your local council.
This is why we recommend getting the right team behind you who can take care of the technical details, navigate the many building requirements, and deliver a quality build. Researching your local area to find out what builders have a great reputation for delivering on time, sticking to the budget and streamlining the process is vital for property development success. If you can secure a builder who can tick all of those boxes, you will stand the best chance of maximising on your investment.
We’re the real deal for dual occupancy developers
Valley Homes has an experienced team, local know-how, and a network of reliable tradespeople to get your development dreams off the ground as simply and stress-free as possible – but more than that we have a host of flexible design options with premium materials and inclusions, all sourced from a wide range of quality suppliers. What does this mean for your property development? With Valley Homes your investment will be a sound investment, stand the test of time and have great market appeal.
Whether this is your first foray into property development and want to know more about how to build on your own land, or if you are an experienced property developer and want to discuss the ins-and-outs of our dual occupancy terms of service, we’re ready to help. Please give us a call, send us an email or pop into our Head Office.
Another informative dual occupancy article:
DUPLEXES ARE BUILT FOR HUNTER VALLEY INVESTORS
Here at Valley Homes we happen to know a lot about the upsides of one of the Hunter Valley’s most popular investment options – duplex builds – because we have built quite a few.
But did you know kick-starting your property investment portfolio with our wide range of duplex designs and prices is easier and more cost effective than you might think? The first step to taking advantage of our years of experience building clients’ property investment portfolios is asking us all of your important investment questions. To help you get started, here are answers to our most common duplex questions asked by investors.
Duplex FAQs
Is my block suitable to build a duplex on?
Generally speaking, most blocks in the Hunter Valley are. Of course, all duplex builds are subject to a site inspection and council approval before any work can commence. Block size, zoning and road access are some of the main elements that will be considered when seeking approvals, as well as if the block has an existing dwelling that would need to be knocked down first, and whether that dwelling is heritage listed. Always seek professional advice and check with council on the block’s suitability for building a duplex before purchasing a property. Maitland City Council, Cessnock City Council and Singleton Council are great starting points, as well as getting in touch with your local duplex builder who has experience building in your chosen suburb.
Can you tell me how much to build a duplex on my block?
Yes we can! Simply contact a member of our experienced sales team to get the ball rolling. Before a building estimate can be provided, first we need to establish the type of duplex design you are after (e.g., luxury or standard), the block size and location, as well as any council requirements your block is subject to. Then we will provide you with an estimated cost to build a duplex. After receiving the quote, if you decide to go ahead and build your duplex property investment with Valley Homes, we will then formalise your duplex house plans, including design choices, special requests and custom additions, and give you a final cost to build a duplex. After all, we understand the key to successful property investment is knowing exactly what costs you need to pay. This ensures our build comes within your budget and meets your expected return on investment.
Can a duplex be subdivided? If so, Torrens Title of Strata Title?
In short, yes, but whether your duplex requires Torrens or Strata Title is subject to council requirements. Each state in Australia has variations on strata laws, however NSW recently amended theirs to better reflect modern living and property investment situations. It is something we recommend investors get familiar with, especially if one property will be rented or sold. A specialised strata expert, such as a Property Conveyancer, is a great place to get your strata advice.
How long does a duplex typically take to build?
At Valley Homes we use HIA Building Contracts which have a build time of 32 weeks, subject to the final duplex design, the site requirements, and weather. Plus, Valley Homes offers a turn-key service, meaning at the end of your 32 week build your completed Hunter Valley duplex will be handed over ready to immediately rent or sell.
Does Valley Homes look after the DA application?
Yes, we certainly can. One of the many advantages of building your duplex with an experienced builder is that we know the ins-and-outs of the council DA application process, and we are proud to offer the completion of all required council applications as part of our service. Approval times can vary depending on factors such as if it is an Integrated Development or not, however, turnarounds are usually fairly reasonable.
Can one half of a duplex be different to the other?
Absolutely. Many of our Hunter-based investors build one half of the duplex with the intention of living in it themselves. This often means customising and upgrading standard inclusions in one half, to create a more luxurious home, while the other half is fitted out for rental appeal with standard, hard-wearing fittings and fixtures. Plus, many investors have found that increased street appeal and market interest can be achieved by slightly altering the facades to create a sense of two unique properties. Essentially, the duplex house plans are whatever each individual property investor wants to make it. We simply provide the expertise and building assurances to make sure any return on investment is optimised and investors are given the best opportunity to achieve their property aspirations.
If you have any more questions, or want to build your property investment duplex with Valley Homes, then please contact us.
Other great Valley Homes duplex articles:
- Building a duplex: the upsides to downsizing
- The duplex drawcard
- Port Stephens – the duplex dream
- Duplex by design
- Duplex in demand
HOW WE KEEP OUR CLIENTS COMING BACK FOR MORE
Having a great reputation means everything in the building industry. It effects how many, as well as the quality, of projects we get to be involved with.
It keeps the best suppliers and tradespeople wanting to work with us. Plus, it encourages new clients to find out more about what we do. But best of all, a solid reputation also means existing clients are happy with our work, and as such are much more likely to come back for more. This return business gives us the opportunity to build genuine and strong client relationships, try new and exciting things, and achieve better results in the process.
At Valley Homes we are fortunate to have a number of regular clients, who after their first build with us decided we were the builders best suited to take care of their ongoing projects. We’ve compiled testimonials from three of these clients to illustrate what building with us is like from their perspective.
Experienced Investor – Dual Occupancies and larger unit projects
I’ve worked with a lot of builders and found the service at Valley Homes amazing. From the sales manager who is a developer herself and has over 25 years of experience in the building industry, to the site supervisors on the ground, everyone has a wealth of experience and knowledge and are always so helpful and accommodating. The quality of the build and finishes are high, and the building timeframe is very fast. There are no delays once we are under construction, which means our projects are completed quickly. You can definitely trust this builder by either handing over all the detail to them to manage or being a little more involved in choosing your fittings and materials. There is support and help all the way.
INSIDER TIP: Make sure if you are comparing costs that you are comparing ‘apples with apples’ as Valley Homes include everything in their costs; there are no hidden costs, unexpected variations or extras along the way. I know some builders don’t include enough allowance in their provisional costs or don’t include some site works, and therefore you can end up having to pay more in the end.
First time investor – Dual occupancies and duplexes
One of the best things about working with Valley Homes is that they handled everything for me. All I had to do was pay the progress payments and get the keys. I was prepared to face some stresses during the building process, but that didn’t happen at all. I was genuinely surprised and pleased with how stress-free Valley Homes made the process from beginning to end.
INSIDER TIP: Valley Homes include everything, the cheapest price is not always what it seems. When looking around at competitors be wary of excluded items.
Growing family – Custom design home and duplex
Valley Homes are easy to deal with, really listen to your needs, and they go all out to make it a smooth process. After they built our family home to exactly suit us we knew we would use them again. From our comfortable, well-planned living space, including separate privacy zones for our growing family, as well as some cleverly designed communal areas, so that we can gather and take in some great views, we couldn’t have asked for a better family home. When the opportunity arose to build a duplex it was an easy decision to work with Valley Homes again and we weren’t disappointed. Working with Valley Homes was just so easy from start to finish. We experienced fast super service – they are the experts in investment property construction.
INSIDER TIP: Speak to Kaye at Valley Homes, she will really listen to what you need.
Reputations – we’re all in it together
Of course, the strength of our reputation begins and ends with us, but there is only so much we can do armed with passion and a whole bunch of hard-earned knowledge. We simply couldn’t have earned the reputation we enjoy today if it weren’t for the quality and skills of our suppliers and local tradespeople, and of course, the trust of our clients – and our repeat clients definitely wouldn’t come back for more if we weren’t delivering a premium service, quality inclusions, great value with no hidden costs, and all done in the agreed budget and timeframe.
We understand what it takes to build a family home or an investment property and would love to invite anyone not familiar with Valley Homes to join us on what can be a very rewarding process. Our sales, design and project management teams are ready to get to know your individual needs and provide you with the customer satisfaction to keep coming back to Valley Homes again and again. So, please contact us to get the ball rolling.
SUPPLIER SPOTLIGHT: VALLEY KITCHENS
Following on from our recent PGH Bricks supplier feature Bricks that have been around The Block, this time we’re delving into the room with the reputation as the one that ‘sells houses’ – the kitchen. We’ll reveal how our incredible supplier, Valley Kitchens, provide the perfect mix of substance, style and affordability to make your kitchen The Block worthy.
First up, let’s get to know Valley Kitchens
Valley Kitchens has been around for 36 years and we’ve been fortunate to have had a relationship with them for about 26 of them – that’s quite some time! Some of the main reasons for the longevity of our relationship is evident in the continued positive feedback we receive from customers, such as this recent one that features on the Valley Kitchens website:
“You don’t become an industry leader overnight. To become a leader, you have to work hard, you have to be good at what you do, you have to have insight into what is happening in your industry, you have to have a great team behind you and you have to be open to new concepts and new ideas – all reasons why I always enjoy the opportunity to work with Valley Kitchens.” – Wendy Green Director, Wow Factor Interior Design
In addition to ecstatic customers, Valley Kitchens also were the Winner of the 2016 HIA Hunter Region Kitchen up to $20,000 category and were also finalists in the 2016 HIA Hunter Region Kitchen $40,001 to $50,000 category, which is a testament to their ability to provide kitchen solutions that feature quality craftsmanship and boast the latest trends, materials and innovations. Keep an eye out for more Valley Kitchens success with the 2017 HIA award results to be announced in October this year – we have our fingers crossed for them!
Valley Kitchens is our ‘bench’ mark in quality
Kitchens are definitely one of the most design intense, feature rich rooms in any home. Whether it is open plan, galley, partially-alfresco or whatever your floor plan dictates, a kitchen requires many design decisions. Typical decisions include, pantry position and size, cabinetry configuration and what type of cabinetry to install, such as the cupboard door colour and finish, and of course handles. Then you have tapware, appliances, gas or electric cooktops, sinks, splashbacks, and finally the big one – the benchtop.
The reason why benchtop installations in our new home builds gets us so excited is that it has the opportunity to really make a statement, plus it completes one of the most used and loved rooms of the house. From years of successful home designs, one of our all-time most popular inclusions by Valley Kitchens is an engineered Quartz benchtop, such as Caesarstone, Essastone, Quantum Quartz or Silestone.
Engineered Quartz is a durable benchtop material, and while durability is high on the list of customer’s demands, it is their colour ranges and extensive finishes, including marble look options and imitation concrete, that make them such a winner for us (and our customers) – and even better, they are often cheaper and more durable than ordering the real thing.
To add to our love of Valley Kitchens’ benchtops, there is also a new material for customers to look out for:
“Neolith, a porcelain based product, which can take high temperatures and also be used outside. It is becoming more popular as designs are increasingly integrating the indoor and the outdoor living. Having one benchtop like Neolith that can run through both spaces creating a streamline look is definitely on trend. Wall cladding is also becoming increasingly popular within living spaces. Many products can be used for this including Neolith, Glass, Melamine and Engineered Quartz.” – Jacquie Lewinski, Valley Kitchens
The Block and your Valley Kitchens masterpiece
With The Block's latest contestants recently revealed we’re sure the next series will include the usual drama and excitement, but what we are most excited about is seeing what inspirations, trends, and design-firsts resonate with our customers – and make their way into our finished custom home designs. As a reputable home builder we’re thrilled to offer inclusions from sought-after suppliers, and Valley Kitchens are your local award-winning kitchen experts, who pride themselves on offering top-quality, locally manufactured cabinetry, using sustainable materials and Australian made products where possible.
So whatever kitchen ideas you bring to the table, be it from The Block, Pinterest, or anywhere you draw inspiration from, Valley Kitchens’ designers and expert cabinet makers, along with our generous and innovative floorplans, will work with you to make your custom kitchen a reality.
To work with us, and our many valued suppliers, get in touch today. We look forward to a chat.
BRICKS THAT HAVE BEEN AROUND THE BLOCK
It’s that time of year again – the latest series of The Block is filming right now and will be aired later in 2017. Speculation has been growing about who the contestants are, with model Elyse Knowles said to be in the highly anticipated line-up, and the location has now been revealed by enthusiastic neighbours starting an Instagram account (follow it for yourself at @myneighbours_theblock2017).
So as Elsternwick succumbs to filming and construction chaos the Valley Homes team thought it was a great time to take stock of some of the best elements to come out of The Block – namely all of the inspirational renovation trends the popular renovation show has brought into our homes…
It’s all in the design details – and quality local suppliers
Regardless of whether we are talking overall house plans, styles and trends, inclusions or upgrades, fittings and fixtures, or even interiors or exteriors, every design and structural element is given greater attention and consideration during renovation shows – and that is definitely something we have encouraged our customers to embrace when custom designing their own home.
It might go without saying that local suppliers are a huge component when it comes to giving our customers ‘The Block look’ locally. Our suppliers are responsible for providing Valley Homes with our extensive range of the latest fittings and fixtures, paint colours, the latest trend in floor plans, or a renovation show favourite – a gourmet kitchen – but we’re also talking about facades, courtyards, exterior materials, interior textured feature walls and clever landscaping – otherwise known as bricks.
Introducing our local supplier – and The Block favourite – PGH Bricks
PGH Bricks revealed to us recently that due to television series, like The Block, “Customers are far more interested in colour choices than they ever have been, seeing renovation shows gives them ideas for on-trend products. With brick people are starting to understand its versatility, and there’s more colours and textures, and even bricklaying techniques, than they have ever seen possible.”
It is truly an exciting time for homebuilders and renovators alike with so many material and colour possibilities available. The most popular colour currently available from PGH Bricks is called Blue Steel Flash available in their Metallics Collection. This is truly an on-trend colour with grey tones still highly sought after by custom home designers and builders. According to PGH Bricks, “The white to black, and all shades of grey in between, spectrum is always growing in popularity and we are releasing a beautiful collection called Morada to respond to this trend.”
Beyond greys, there is also a growing trend PGH Bricks calls ‘Warm Earth’. Basically it is a, “renewed love of natural beauty and colour, warmth and strength.” The beauty of brick is that it is intrinsically part of this trend as it is an authentic material, i.e. raw earth that is fired into a brick. One of the huge advantages our customers enjoy when using PGH Bricks products is that they boast an extensive range of natural and modern colours, as well as a variety of textures to suit all tastes. From cool greys to warmer, natural tones like terracotta and classic red, they’ve definitely got the quality and the aesthetics covered.
Another PGH Bricks product to look out for that “continues to catch the eye of many homebuilders”, is Cultured Stone® by Boral®. It’s a man-made stone product that looks fantastic, is lighter in weight, affordable and easy to install. Customers love it as a feature product in their home and we are proud to have been involved in some incredible custom home builds here at Valley Homes that really showcase the versatility that a quality, locally available brick can offer.
We are passionate about staying on top of and ahead of any trends presented by shows like The Block and understand the decisions our customers face when building or renovating their own home – especially when it comes to colours and materials. If you are interested in building a home in Newcastle, Maitland or the Hunter Valley that is on-trend and features the best local products available, the Valley Homes custom design service is a great place to start. Simply contact our experienced team and we can help make your dream home happen.
BUILDING A DUPLEX: THE UPSIDES TO DOWNSIZING
If the amount of enquiries we receive regarding building a duplex is anything to go by, the amount of people looking to build a duplex in the Newcastle and the Hunter regions is definitely on the rise. So we have put together some information on what duplexes offer, including designs and financial rewards, as well as debunking a major duplex myth – size. If you want to know more detailed information regarding building a duplex, we’re here to help.
Firstly, downsizing to a duplex doesn’t necessarily mean downsizing your floor space. Sure the land your home resides on may be smaller than a standard size block, but the duplex you decide to build may not be single storey, allowing builders to increase floor space without increasing the footprint (but we’ll get to that 
later). However, many people looking to build their own duplex are planning on downsizing both their block size and floor plans. We are pleased to assure those people that there are many modern techniques and designs to get the most out of minimalistic living, all of which can be adopted by experienced duplex builders.
Countries more densely populated than Australia have been at the forefront of minimalistic home designs that incorporate all the modern amenities, and even luxuries, for some time. Now, as Australia moves into a new era of reduced land availability, in conjunction with an increased demand for lower impact, more sustainable living, we are in a position to take all of that knowledge and apply it to something very suitable for the Australian economy and real estate market – the duplex.
The duplex has great market appeal
The increasing appeal enjoyed by duplex builds is due to for the two reasons listed above, namely reduced land availability and environmental considerations, but also for people who just don’t need so much space anymore. It may seem obvious to say, but the 
maintenance required to upkeep a free standing, family sized home is obviously markedly greater when you compare it to something such as a duplex. This is why a duplex is extremely appealing to empty nesters or simply people who either don’t have the time or energy to maintain a larger home.
At this stage of the conversation it is really important to remember that when we talk ‘downsizing’ we are definitely not talking ‘down-grading’. Downsizing purely relates to land size, not inclusions, finishes, and design features. Adequate entertaining spaces, open plan living areas and even fully appointed gourmet kitchens all still make a feature in duplex floor plans. It’s just that they will also incorporate the clean lines and uncluttered appeal of European and Scandinavian minimalism, as well as feature intuitive and clever layout and storage solutions – making the most of the reduced square meterage of the block.
Duplexes are also an astute financial investment
If you own land or are purchasing land that can accommodate a duplex design you are probably in a very fortuitous situation. With land being highly sought after and land prices soaring in relation to that, a duplex does two things. Duplex builds can effectively half your land cost and/or double your equity, depending on whether you choose to sell or rent out the additional dwellings that you build. Many first homebuyers who want to ‘build your own house’ have seized the financial opportunities a duplex build offers, by allowing the option to sell or rent the attached dwelling(s) to help pay off mortgages faster and/or reduce repayments.
Debunking a big duplex myth
A duplex is not another name for a small house. Yes, they can accommodate minimalistic living and provide ingenious solutions for compact spaces, however they can really be whatever you want them to be. Single or double-storey, compact or expansive – you name it a duplex floor plan can be designed to suit. The advantage of building with a duplex specialist, who offers a range of duplex designs and prices, is that your finished duplex floor plans will be totally appropriate to your development ambitions and are designed with your block, budget, and council requirements in mind.
Building a duplex using local builders
If you’re looking to build a duplex in the Hunter Valley, Newcastle or any of their surrounding suburbs, regional experts are always a great way to go. There are many benefits to selecting an experienced Newcastle based home builder, such as knowing local regulations, suppliers and contractors, as well as offering local project managers to handle the entire process. All of this essentially translates to less red tape, reduced expenses and a more personalised building experience.
Our team of duplex specialists here at Valley Homes have been at the forefront in duplex projects in the region for many years now and have extensive experience turning duplex dreams into financially sound and cleverly designed homes. If you want to talk duplex solutions with a Newcastle specialist, please get in touch.
Ready to build your dream home or investment? Get in touch today
Need ideas? Browse our portfolio
LOCAL SUPPLIERS SIMPLIFY AND SATISFY
We are absolutely passionate about our local suppliers; their products are impeccable, their service is second-to-none and the best part is they are in your backyard. So you can easily take a look at what they offer before committing to brick colours, roof materials, even door handles and light fittings, ensuring you choose the right inclusions for your new home every time.
All you need to do is pop in for a showroom visit
Websites, catalogues and brochures are fantastic for initial research; being inspired by what other homeowners are doing, knowing what’s new in fitting and fixtures, and familiarising yourself with trends and popular colour choices is an integral part of the selection process. When it comes to making your final decision however, getting a feel for the physical materials firsthand and talking to the manufacturers is invaluable. It can elevate your finished home into something truly cohesive, but most importantly it can result in a home that perfectly suits your tastes and lifestyle.
Local suppliers make staying within your budget easy
Because our suppliers are up to speed on all of our building inclusions and what qualifies as an upgrade, it also means you can make your choice with absolute confidence. No need to go back and forth checking paperwork or getting confused about what you can and can’t choose for your specific new house package. Just bring along your house plans and package summary and then our suppliers will work with you to ensure your selection remains within your budget, while satisfying your design and style needs.
It’s your home…so blow yourself away!
By taking advantage of our local suppliers’ personal consultations, take-home product samples and of course gain access to their wide selection of products, you can be absolutely sure you will be blown away when you open your door for the very first time. So we strongly encourage you to set aside some time to get amongst the businesses in your local community who are making and/or supplying incredible products that can set your home apart from the rest.
Why not visit one of our quality local suppliers to:
- Run your hand over your new floor coverings at Maitland Carpet Court and actually know what it feels like underfoot before anything is laid.
- Hold the exact colour and texture of your new PGH Bricks & Pavers external finish.
- And while you are selecting your bricks, you can conveniently visit the nearby Monier Roofing team to discuss the best roof solution for your specific home design.
- Experience the soft-close quality cabinetry at the Valley Homes Kitchen & Joinery
- Select the latest bathroom tiles and colour-match your new grout at Amber Tiles East Maitland.
- Turn the handle and get to know the weight of your internal and external doors at Thornton’s Hume Doors & Timber.
- Create an inspired bathroom and laundry with the stunning range available at our local Tradelink.
Top 4 tips for a successful showroom experience
The amount of decisions you will need to make when building a new home can be vast (and for some quite a daunting task). So to simplify the process we have put together some tips list to help when you visit our local supplier showrooms:
- Take along your Valley Homes Inclusions Guide (get in touch to request this)
- Be sure to take your home plans and layout (it may sound obvious, but it is often left at home on the kitchen bench).
- Have a rough idea of the items you like. We suggest having three or four products/colours in mind before you arrive at the suppliers to avoid being overwhelmed by the choices available. Plus, it will cut down your final decision-making time and also gives you room to move as you mix and match your overall choices across the entire home.
- If you’re not sure about something take some time and come back the following weekend or give our team a call to talk through your options and/or your particular package. After all we have been involved with thousands of new home builds and have seen what can and does work. All decisions are final once you have your Final Selection Appointment with us, so it pays to make sure you are 100% comfortable with your selections.
If you want to know more about building a new home with Valley Homes and take advantage of our close relationships with standout suppliers, phone 02 49341400, email us or pop into our Maitland office.
Ready to build your dream home or investment? Get in touch today
Need ideas? Browse our portfolio
THE DRAWCARDS OF BUILDING A DUPLEX
If you had to describe one of the biggest drawcards a duplex has to offer ‘two for the price of one’ might spring to mind – and surprisingly it’s not all that far from the truth either. Plus, the benefits don’t end there…
Opting to build a duplex instead of a single dwelling has the potential to double rental yields or markedly improve profits for investors. Owner-occupiers can also benefit from a duplex build, as it can provide an ongoing income if one property is rented, or the money from the sale of the other property can substantially reduce or even halve your mortgage.
Plus, by only having to buy a single block of land to build two homes the land cost is essentially half the price per home – bargain! On top of that the cost of building a duplex is almost always dramatically less than building two individual, freestanding homes. With all of that in mind it quickly becomes obvious that there 
are many advantages to investing in a duplex development – but is it the right option for you?
These days everyone loves a duplex
First home-buyers, young and older families, empty nesters and even retirees are all key sections of the real estate market showing increased interest in duplex options. While there are vast differences in the motivations for each of these types of buyers and renters there is a unifying benefit for investors or owner-builders – attractive return on investment. Basically, the increased popularity means the rental yields have rock solid potential and buying a single block of land and turning it into a dual property can result in double the sales.
Of course, you still will need to do your research to ensure this type of development suits your investment plans, as well as the market demand in your chosen area. So get to know your preferred suburb, its features and amenities, and the relevant real estate environment, i.e. it pays to determine what properties are selling/renting and what figures are being achieved. After you have that research sorted you will need to secure a quality builder with local experience, and ideally one who manages the entire process.
A duplex is all about location and land
Due to limited land availability in inner city and urban areas, and rapidly rising house prices, the types of homes many potential buyers and renters seek are changing. For financial reasons freestanding, ample yard homes are just not an option for many these days, or alternatively that type of home isn’t appealing if time or age is a concern when it comes to keeping up with the required maintenance.
For buyers and renters who are seeking a prime location and the lifestyle that comes along with that, the most realistic and appealing option often comes down to a choice between living in a duplex or an apartment. While many benefits run parallel, a duplex offers something an apartment can’t – land. Land in combination with a good location is what can provide longer-term capital gain and becomes a great point of difference for investors and homeowners interested in building a duplex.
Three additional reasons a duplex has great market appeal
A duplex only shares a single wall, as opposed to an apartment where buyers and/or renters could end up sharing multiple walls, floors and ceilings. A duplex also has some ground floor outdoor space, such as a courtyard or small yard for pets, entertaining or kids. Depending on the title structure a duplex also has much more flexibility when it comes to alterations down the track.
A duplex can have strata or a non-strata title
Each state in Australia has variations on strata laws, however it is something investors and owner-builders need to get familiar with, especially if one or both properties will be rented. The Strata Schemes Management Act 1996 outlines all the technical stuff you need to know. In short, unless you have come to an agreement to seek exemptions you often will need to establish an administration fun, a sinking fund budget and also pay joint annual insurance premiums. That being said the Strata Act is currently being fine tuned, which is why getting professional advice from a specialised lawyers is a good place to start.
Large or compact – a duplex can suit many land configurations
Many experienced duplex builders are able to best make use of your block of land, whether it is narrow and deep or wide and shallow, expansive or more compact. As long as you have adequate square meterage a contemporary design with street appeal (important to maximise capital growth) is always an option.
Most modern duplex designs will present a two-storey option to ensure the available land is being best utilised, while providing the dwelling the maximum floor space. A cleverly designed duplex will create the same sense of space and luxury that a similar freestanding home would, but importantly without the overheads.
Valley Homes are Newcastle and the Hunter duplex experts
The Valley Homes team of experts are here to talk you through the available designs and floor plans and help you determine if a duplex is your ideal development option. Plus, we'll manage the entire process: design consultations, planning and council approvals, quality construction and premium finishes.
PORT STEPHENS – THE DUPLEX DREAM
Port Stephens appeals to holidaymakers, retirees and investors – making it an ideal location for investors to build low maintenance and land efficient designs.
Whenever an investor builds a duplex they are effectively increasing the land’s equity with relatively low financial risk – making it a very appealing option for both experienced investors and first-time investors alike. So when an investment builder has the financial requirements in place for a duplex project and a quality builder on board, the success of such a project will often come down to the chosen location.
Conducting independent research into the strength of the chosen market(s) is highly advisable to ensure your investment has a good chance of being profitable. Coastal locations, which also boast great facilities, are almost always a sound investment – and with Port Stephens this is most definitely the case. According to an article featured in the Newcastle Herald, Port Stephens showed a large growth rate of 9.6% in 2014 – one the regions largest.
Duplex builds are appealing to a wide variety of potential buyers and renters, however a particularly active market for duplexes in Port Stephens is the retirement sector. Retirees are drawn to duplexes because many want to downsize from their current large family home, but aren’t prepared to move into one of the many retirement homes or over 55 villages located in the area. Duplexes are also typically a sound investment as they offer a relatively secure return, plus there is potential to earn a rental income.
Port Stephens has real estate appeal
Astute investors are drawn to Port Stephens for a number of reasons:
- Coastal lots available and many residential developments underway.
- Property market shows strong growth of 9.6%.
- High rental demand, especially in the high season for tourists.
- Close proximity to Newcastle, Hunter Valley and Sydney.
- With Australia’s aging population, Port Stephens provides ideal facilities and lifestyle options for retirees looking to get out of their busy lives in Sydney or Newcastle.
- Newcastle Airport only 25 minutes away with daily coaches to Sydney.
Buyers and renters are drawn to Port Stephens for the lifestyle, including:
- A range of golf courses, day spas, cafes and restaurants, shopping and d’Albora Marinas.
- Cruise, boat, dive, snorkel, canoe and surf its impressive waterway (larger than Sydney Harbour!)
- Walk or hike in Tomaree National Park or 4WD in Worimi Conservation Lands.
- Well-appointed Medical Centres, community centres and a huge variety of clubs and hobby groups.
Duplex options
Whether you intend to rent out both, rent one and live in the other or sell both, a duplex offers a very flexible solution for potential investors wanting to build in Port Stephens. For example, people seeking a duplex may be intending to:
- Buy both properties from an investor and be owner/occupiers to secure additional rental income
- Rent a single side of a duplex.
- Build the duplex, rent one side of the duplex and live in the other side.
- Build the investment and sell both.
Duplexes for rent
Whichever style of rental you choose, you don’t need to manage the property yourself. Local property managers can take care of all of the legal requirement, paperwork and financial services. For investors choosing to rent their Port Stephens duplex, there are two main rental options:
Holiday rental – tap into the lucrative holiday rental market by turning your duplex into a holiday house. Sites such as Port Stephens Accommodation, Stayz and Home Away can give you an idea of the current properties available to rent.
Permanent rental – with this option the weekly rental income will be lower than the above option, however you will have a guaranteed income throughout the year and are most likely have less repair requirements.
Duplexes for sale
Investors have two main options when it comes to selling, either sell one or both. The chosen option generally comes down to whether the investor wants to be an owner/occupier or if they simply want to sell the entire duplex project to turn a relatively quick profit from increasing the equity of the land. Both options have the potential to return a profit, however the speed at which a profit/income is earned is vastly different. An investor wishing to determine which solution is best should talk to a reputable financial planner.
Know your duplex plan
Building to rent, sell or to live in a duplex may affect the plan you choose and how you finish the build, i.e., if you are planning to rent out the duplex it may require a more cost effective fit-out with hard wearing fixtures and minimal extras. Whereas a duplex for an investor planning to live in the property themselves may require more high quality features, such as stone bench tops, luxurious carpets etc. When calculating your financial projections it is important to include property maintenance for both properties to fully understanding of your potential return.
Valley Homes has a suite of high quality duplex plans available, which are ideal for the Port Stephens investment market. They feature single and double storey plans, open plan living, intelligent storage options and classic street appeal. Talk to the Valley Homes team of experts – they’re a great place to start gathering all of the essential information for your Port Stephens duplex project.
Previous Duplex articles featured on Valley Homes:
Duplex in Demand – read up on what is a duplex, the flexibility the type of build provides for investors and also a duplexes broad market appeal.
Duplex by Design – get some insider knowledge on what to look for when building a duplex, from selecting the right block to fine tuning the budget.
DUAL OCCUPANCY: OPENING THE DOOR TO INVESTMENT
When you picture a property developer, you probably envisage an individual of significant means. However, diving into the world of property investment is more attainable than you might think.
The economic advantage
One of the most economical types of property development is dual occupancy and there are a number of reasons why. Firstly, with dual occupancy you have the option of building on the land you already own. Provided your local council regulations allow it (see point 2 below) and your block is big enough, you could sub divide your property and build another completely separate home on the block.
Then, depending on your lifestyle choice, you could: rent out the new home; upgrade by moving into the new place yourself and rent out your old house: or, you could sell one of the houses and put the profits away for the future.
Dual occupancy is also a great option if you love where you live, but the maintenance on your old home is untenable as you approach retirement. By knocking down your old home and choosing to build a dual occupancy property, you’ll be able to afford to live in a brand new home with the profit from the sale of, or rent from the lease of, the other home. Which brings us to economic advantage number two.
Two for the price of one
Secondly, if you’ve bought a block of land, it makes economic sense to consider building a brand new dual occupancy such as a duplex. Compared to one large home, a duplex is an affordable way to practically get two homes for the price of one. Again, you’ve got several options in terms of opting to rent or sell – the choice is yours!
Whether you’re considering a knock down rebuild, or you’ve bought a vacant block, don’t be put off by its size when it comes to building a dual occupancy dwelling, including a duplex. A reputable builder such as Valley Homes has lots of different home and duplex designs to choose from, whether you’ve got a narrow block, a corner block, or one with a slope. For example, when it comes to duplexes, if you’ve got a very wide street frontage, a design like the Myall makes use of the space and maximises privacy with the only shared wall being between the garages.
Or if you’re after a double storey home, the Baybreeze creates ample space for a family with living areas on the ground floor and bedrooms upstairs. These are just two of the duplex designs Valley Homes offers.
Plus, you can always choose a custom design for your dual occupancy so you can build homes that include all the features you desire.
Tax incentives
The tax benefits of dual occupancy depend on whether you sell the second home or rent it out.
Sellers: By building a new home on your existing land, moving into it and selling your old home, you’ll avoid capital gains tax and GST. The ATO is a great resource for finding out more on this option.
Renting: Choosing to become a landlord and renting out the second home also brings tax incentives by way of negative gearing. In a nutshell, negative gearing is when the return on an asset that produces income, such as a new home, is less than the amount borrowed to invest. Again, if you’re new to all this, start with the ATO for the basics on the tax perks and implications of having a residential investment property.
Where to start?
If you think dual occupancy might be a viable option for your property investment strategy, it’s important to get some things in place before you begin.
1. Money matters
Talk to your lender about finance. It helps to have any necessary preapprovals in place before you begin considering the options.
2. The red tape
Like any property development, dual occupancy is bound by certain rules and regulations. As mentioned above, you need to consider the council requirements (building in Newcastle? Check out the local government checklist), any formal agreements on your land that might prevent dual occupancy, and if you’re building on a block you already own, find out if it meets the size specifics in terms of frontage, services and slope.
3. Disaster fund
If your block is in a bushfire or flood zone, it will increase the cost of building – make sure you factor for this in your budget.
4. The three Rs: research, research, research
There’s no point building a dual occupancy dwelling if you’re not going to be able to cover your costs through the sale or rent of the second home. Real estate agents are your best friends when it comes to researching sales and rental prices in your area. Then, once you have a good idea of the likely return, make sure it’s enough to cover your build and any ongoing expenses.
Property investment doesn’t have to be a daunting prospect; the answer could be in your own backyard! Talk to Valley Homes today about dual occupancy and see how it’s a wonderfully affordable way to get your foot in the investment door!
REINVENTING THE TERRACE
When you think of a terrace house, it’s often the old-fashioned Victorian era home that comes to mind. However, these days, architects are re-imagining this old style of house to provide 21st century Australians with a home that’s not only affordable, but also incredibly stylish.
What is a terrace?
First things first. Let’s establish exactly what we mean when we say ‘terrace’. This is a home that has its own private grounds and has no dwellings either above or below it. While a terrace is often attached to another home, they can also be freestanding, but are often very close to neighbouring houses – sometimes less than half a metre separates them. A townhouse falls under the same definition.
Narrowing it down
So why would you choose to build a terrace or townhouse? If you’re a property investor, building a complex of townhouses or a row of terraces could be a great development strategy.
For homeowners, a standalone terrace or townhouse can be a fantastic choice of home for certain blocks. For instance, if you find a narrow block in your dream location, a cleverly designed townhouse or terrace could provide you with a spacious home that maximises your property.
By design
When you’ve got a tricky sized block, it’s worth considering employing an architect to design the plans for a townhouse or terrace. An architect can bring their creative problem-solving skills to designing your home, ensuring it’s customised to meet your needs. What’s more, unlike the cookie-cutter designs of the townhouses and terraces of yesteryear, today’s interpretations can be designed to your tastes – from adding traditional touches to keeping it sleek and minimalist.
If you want to use an architect to design your terrace or townhouse, the Australian Institute of Architects is a great place to begin your search. And don’t forget good old word of mouth. Ask around for recommendations and try to have a look at some homes that suit your style.
Built to order
Of course, once you’ve found an architect and designed your new home, it’s time to look for a builder who has the experience to bring your plans to life. Valley Homes has extensive experience of working with local architects and they pride themselves on the relationships they’ve established over their 40+ years in the building business.
A mix of old and new
If you’re yet to decide on a location for your terrace or townhouse, have you considered Maitland? Valley Homes has built many houses in this thriving city that’s just a short drive from Newcastle. Locals love it because it blends history and modernity with a lovely peaceful vibe to boot. While there’s plenty of new land opening up around Maitland, you can still find lovely pockets in the heart of the action that would be perfect for a standalone townhouse or terrace.
Valley Homes would love to bring your architectural designs to life so contact them today to see your house plans transformed into a beautiful home.
5 TIPS TO MAXIMISE YOUR RETURN ON INVESTMENT
Choosing to invest in property is one of the most secure investments you can make. Major Australian cities are crying out for new developments to boost quality of living for their residents.
While many Australians still dream of living in a house, the popularity of units and apartments is soaring, meaning a multi-unit development can be a smart investment choice – find out if it’s the right decision for you.
Once you’ve decided to invest in a unit, flat or apartment, there are some key tips to keep in mind for maximising your return on investment.
1. Research your location
Where would you like to construct your investment property? While selecting a location that’s close to a CBD is an obvious choice, there are still advantages to be found in investing in a multi-unit development in rural areas.
2. Choose a reputable builder
The construction of a new multi-unit development is a huge decision and you want a builder with many years of success and a varied portfolio. Look for a builder with construction experience both large-scale and small. For example, Valley Homes has completed large-scale developments for clients including the Defence Housing Authority and the NSW Department of Housing. This success is in addition to the completion of small and medium investment projects.
3. Find the right tenants
Once the construction of your multi-unit development is complete, one of the most important ways to maximise your return on investment is attracting the right tenants. You’ve chosen a great location for your property and selected a reputable builder, now make sure you’ve done your research and you’re charging a reasonable rent.
4. Consider a property manager
One of the ways to help with tip number 3 is to think about putting your investment property in the hands of an experienced manager. Not only will they help you find reliable tenants, but they’ll also be able to ensure the ongoing security of your investment. Of course, there are costs involved, but that brings us to point number 5.
5. Understand the tax
One of the reasons property investment can be a great road to go down is the tax incentives. You can really ensure the return on your investment by making sure you’re claiming all the deductions you’re entitled to. These can include: the fees and commission your property manager charges, maintenance of your units, flats or apartments, council rates, insurance, travel to the property and more. You might also be able to negatively gear your investment and reduce the tax on your primary income. When it comes to tax, there’s a lot to get your head around and the ATO is a great place to start.
The development of a property as an investment should be an exciting experience and by following these tips you’ll be on track to maximise your return. Get the construction ball rolling today by talking to the Valley Homes team – they’re ready and waiting to help!
ATTRACTING TOP TENANTS: TIPS FOR INVESTORS
If you’re considering property investment, one of the major keys to success can be summed up in two words: quality tenants. So what are some of the most important considerations for attracting the right tenants who will ensure the vacancy rates on your property are kept minimal and your property is looked after?
1. Location
It sounds obvious, but as an investor, you want to choose a location where people want to live. A city like Newcastle is a great choice as it’s certainly on the up and up. The new terminal has just opened at the airport, making the city even more accessible. Construction is moving ahead on the university’s new campus, adding to the city’s reputation for excellence in higher education. Plus the revitalisation of the coastline from Nobbys Beach is makes soaking up the coastline even more enjoyable.
What’s more, with the city’s strong economy, world-class healthcare and lively social scene, it’s little wonder so many Australians are clambering to call the country’s second oldest city home – great news for property investors!
2. A quality property
Being a well-established city, Newcastle has many existing homes available to purchase as an investment property. However, there’s nothing like building a new house to attract high quality tenants. A beautiful new home with a modern design will appeal to renters who take great pride in their surroundings and are therefore more likely to look after your investment.
A new home also has less maintenance issues, which is not only a bonus for you as the owner, but holds great appeal for renters as they won’t have to worry about things going wrong with the house.
What’s more, if you choose to build a new custom home, you can design it to suit the type of tenant you’d like to attract. Perhaps you’d like the security of having a family renting your home as once they get their children settled into a school, they’re less likely to move. To meet their needs you could design a home with large living areas and outdoor entertaining spaces. Or you might consider the pros of attracting older tenants and design a new house that’s single storey with minimal yard maintenance.
3. Reasonable rent
Do your research on rental rates for homes comparable to the one you’d like to invest in and make sure you set a reasonable amount. The rental market in Newcastle is generally healthy, but you can keep an eye on its movement.
Rental return is another reason why building a new home is a wise choice. Potential tenants who earn a high income are prepared to pay higher rent for a new house.
Property investment is a very individual decision, but if you choose to build a new house in Newcastle, make sure you speak to the experts at Valley Homes. Our in-house team offers a complete service, taking the stress out of building and ensuring you end up with a property that quality tenants are lining up to rent.
DUPLEX BY DESIGN: CHOOSING THE RIGHT PLAN
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.
1. Block
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.
2. Lifestyle
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.
3. Budget
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.
LIVE-IN INVESTORS AND DUAL OCCUPANCY
When choosing to subdivide your block of land with the intention of living on the property, there are two main options with the other dwelling – renting or selling – and it pays to know which category you fit into because each option can affect how and what you choose to build.
Scenario 1: Live in one and rent the other
For first-time investors who already own and live on a large block of land, dual occupancy is one of the most common types of developments. This is simply because subdividing your existing block of land to create a dual occupancy increases the land’s equity with relatively low financial risk. Plus, by renting out a property you benefit from ongoing rental income. However, when calculating your financial projections it is important to include property maintenance for both properties to fully understanding of your potential profit.
You may choose to move into the new property and rent out the old/existing building or vice versa, either option shouldn’t impact too much on your ongoing income (depending on the condition of the existing property). However, it will affect the new build, i.e., if you are planning to rent out the new property you will want to choose cost effective, hard wearing fixtures with minimal extras. But if this is to be your new home you may want to tweak floor plans and add better finishes, such as stone bench tops or higher quality carpets – and this will impact on your overall investment for the initial build.
Scenario 2: Live in one and sell the other
This is very similar to Option 1 in terms of knowing which property you want to live in to ensure you are investing wisely. However, instead of catering to a rental market, which requires a particular set of inclusions and means dealing with tenants, you will be looking for the selling potential and what is attracting buyers to your area. Talking to real estate agents and experienced dual occupancy builders will help you determine the best options regarding the build to maximise your property and potential profits.
The other main difference with selling one of the properties is ongoing income versus the one-off sale price – and this will be determined by your investment goals, i.e., you may be planning to use the lump sum from the sale to either pay off your mortgage or re-invest into another development project. Either way, make sure you get sound financial advice outlining all options before settling on an investment plan. Becoming financially independent and debt-free may be better for your individual situation in comparison to taking on further debts for potentially greater profits down the track.
Not sure what Dual Occupancy actually is or if it’s for you?
Dual Occupancy Property Simplified outlines the basics to get you started.
Next steps: The best place to start to get all the facts for your particular situation and block of land is to talk to experienced dual occupancy builders. Valley Homes has years of building experience in Maitland, Newcastle and the Hunter Valley and our team is ready to help get your investment goals started.