A duplex is a single residential building with two dwellings under the one roof and a dividing wall between
- Zoning – Looking to build a home but you’re situated on a block with a bigger street frontage? Maybe a Duplex is for you. Next step is crucial to fully investigating what your local council zoning will allow you to do with it. Before speaking to too many different sources, we suggest keeping it simple and getting in contact with your local builder to ascertain which contacts will best suit your situation.
- Finance – Although it might cost more to build a duplex than a single freestanding home, it’s certainly cheaper than building two separate homes. The biggest appeal for investors is the value added to the property when a duplex development is complete. You create two big homes, sell one, and potentially pay off all of your build costs plus half your mortgage.
- Design – Have you ever walked past a building and thought ‘How did they get that approved through council?’. Employing the right contacts from the beginning will ensure you are getting the most out of your block through design. Adding features such as Skylights down the adjoining wall and higher ceiling throughout will give the feeling of Light and space.
- Timing – When it comes to building and completing your duplex, speed is everything. That’s not to say the job should be rushed, but it pays (literally) to get everything organised and in place as early as possible to ensure your property doesn’t become a money pit. Most people buy the block of land and have a loan for that, and then they can’t live on that block of land while it’s getting built. The holding costs on the block of land on which your duplex will be constructed can be huge and every week that goes by means another big hit to your wallet, so you’re best to find a builder who can plan and complete the job quickly, but still with quality.
- Choosing a builder – When choosing a builder don’t just look at their price, look at the quality of their work; for example do they have a track record of building duplexes and can you view their past work? How fast can they complete the work?”. If you combined all these factors, the most expensive quote may, in fact, be the best option.
This article is general information and should not be seen as personalised building advice. You should consult with a financial planner and your local zoning rules prior to demolishing your property.