How Building a Duplex Can Maximise Your Profit
Are you looking to make money from housing? Investing in property can be one of the most lucrative decisions you’ll ever make. However, the current housing market is difficult for small investors to enter.
With property rates around Sydney skyrocketing, many investors have begun to question whether the housing market is a viable source of revenue.
Exorbitant housing prices have created a strain on Sydney’s growth and development, which has created a surge in duplex homes. These shared living quarters are popular among landlords and tenants alike.
Landlords benefit from renting more properties out while tenants aren’t expected to pay as much as they would be renting a house or flat. In many ways, duplex homes have been a workable solution for all of Sydney’s housing market problems.
Save Money and Earn More
Investors who are looking to increase revenue without undertaking extensive development projects can benefit greatly from duplex homes.
Here are some reasons why:
- Compared to flats, duplex homes can be significantly cheaper to build but could also yield more revenue from tenants than traditional housing;
- Duplex homes can be an excellent long-term financial investment and they will generate revenue over long periods of time;
- Since owners can sell units individually, duplex owners tend to make more money on property sales than traditional homeowners (subject to council approval);
- Duplex homes take up the same land space as regular homes but are designed to support double the tenants.
It’s important to remember that building a duplex does initially cost more money than building a home. Most of this is due to the fact that duplex properties require additional kitchen and bathroom development.
There’s no denying that duplex homes have become one of the most popular ways to deal with the housing shortage across Australia’s major cities. However, regardless of how profitable duplex homes are, they’re not for everyone. A lot of preparation and planning time go into building a duplex property, especially if you are planning to lease one or both units out to tenants.
Because of the rules, regulations and fees, you’ll want to meet with an experienced builder who can guide you through the process of building a duplex home that meets all of the city council’s guidelines. They can also advise you on whether a duplex home is your best choice for helping you meet your financial goals.
With that said, duplex homes are a GREAT source of income for real estate investors – especially retirees who’re looking to grow their wealth more quickly. With the help of your consultant, you can quickly move through the leasing process without any troubles.
Get Started on Your Duplex Property
There’s a reason that real estate investors across Australia are turning to duplex homes as viable solution to the challenges in the housing market. Duplex homes offer as much as twice the revenue as traditional homes and are optimised for space.
Additionally, duplex houses doesn’t require as much development as large flats, and the maintenance and upkeep are much easier. For this reason, duplex homes are a great investment opportunity for smaller businesses who don’t have the money or manpower to service multi tenant properties.
Investing in duplex properties is a great way to generate additional revenue in Sydney’s growing housing market. Champion Homes has nearly two decades of experience building duplex properties in Sydney’s older suburbs. Get in touch with one of their friendly professionals to learn more about how you can build the right duplex for you.