Downsize with a Duplex Investment
The duplex is a dynamic investment solution whether you want to downsize and invest to live-in, create investment income, build to sell or a combination of these. This month we feature stage 1 of a 2 stage multi-unit development to give a glimpse behind the scenes of our building process and see the client’s plans taking shape. This 3-bedroom, 2-bathroom, single garage, single storey attached dual occupancy build is located in the semi-rural Maitland suburb of Largs.
Largs living
Resale value and target buyer market meant that location was a determining factor for our client to ensure return on investment. On the rural fringe and only a five minute drive into Maitland, Largs (named after the Scottish town, Largs) is an ideal location for those seeking a peaceful lifestyle. Along with adjacent Bolwarra, these were originally amongst the oldest suburbs in the Hunter as evidenced by some of the heritage homes within the area. The Largs school was established in 1838 and has been in continuous operation since then. This is now a growing suburb and a great spot to consider a property investment, either as part of a retirement plan or to build an investment such as a dual occupancy to then sell or rent for a good return on investment.
Maitland, at the forefront of Housing Development
‘The State of our City’ report, which came out in November 2024, showed Maitland City Council on a trajectory to exceed its initial projected population of 144,500 people by 2041. Maitland City Council General Manager Jeff Smith said NSW Government plans like the Hunter Regional Plan 2041 put ‘Maitland at the forefront of housing development in the Hunter.’
This level of growth requires community infrastructure to support its success and Maitland City Council has been proactive with investment in greenfield initiatives, road upgrades and improvements to recreational facilities. Furthermore, Maitland Council has improved its process for development applications, resulting in shorter time frames for turnaround on lodgements. This is especially encouraging news for investors considering property development in this area.
The duplex as a property investment
Having done the necessary research, our client is building to sell this dual occupancy build knowing the units will appeal to both buyers keen to downsize as well as those looking for a property investment.
Valley Homes offers integrated design and construction solutions for our investor and developer clients so they can also opt for upgrades to any aspect of our builder’s range of inclusions. As part of our featured dual occupancy build, key upgrades included PGH Sea Fossil facebricks, fixed glass panel shower screens, Hume HAG 11 internal doors and ducted air conditioning to both units in lieu of our standard split system to living areas.
As seen in our featured dual occupancy build, the client’s plan shows a variation of size between the units. This is another of the advantages of the duplex, with one being customised to suit the live-in investor while the other may be more streamlined for rental or sale.
Downsize strategy with a duplex
When the last child has flown the nest and the family home and garden all start to feel too big to maintain, it’s definitely time to consider downsizing. If the retirement village seems a step too far then it’s worth considering the option to build a duplex as part of a downsize strategy. One unit can be kept as the home into which you downsize while the other may be rented out, thereby providing an investment income. An alternative is to sell the second unit which will also give a great return on investment.
Some choose to build a duplex in order to offer a solution to the housing crisis faced by younger family members. The ‘spare’ unit acts as a family property investment or an affordable home with subsidised rent.
Stay connected in your retirement
It’s no surprise that both investors and retirees are looking at Maitland as the ideal location for property development. With its strong sense of community, the Maitland area is recognised as a great place to retire. It’s well serviced with a hospital, bus and train connections, recreational facilities including tennis and bowls clubs as well as cultural delights on offer through Maitland Regional Art Gallery and Maitland Repertory Theatre. Amongst heritage buildings and stunning architecture are a wealth of shops, cafes and eateries. For those looking for a slower pace than Sydney or Newcastle, Maitland offers a country vibe with all the conveniences of a large town.
Photo: Vaida Savickaite
Valley Homes, your Maitland Builder
Having worked in the region for five decades, Maitland builder, Valley Homes, has built strong relationships with local suppliers and has an excellent understanding of Maitland council regulations. If you’re looking for a Hunter Valley Builder with the expertise to take your plans to build a duplex from conception to completion, get in touch with Valley Homes today.