Could a Duplex be for you?
We have completed 7 duplexes in the past few years. If you are looking for a new home or investment property in Inverell this could be an option for you.
The size of Inverell blocks lend themselves to duplex construction. Some blocks retain a decent backyard, while others have a smaller, low maintenance space suitable for the owner.
The range of clients we have had select duplexes for their new build include first home buyers, young families, downsizers, and investors.
- Duplexes are two homes built on the same title, so unlike subdivided land, a duplex maximises the potential of the land without additional holding fees, insurance costs, council rates and other associated costs.
- Rental potential – from the one piece of land you could create two rental incomes.
- Live and Rent – you could live in one and rent the other. Your renters could be helping you reduce your debt quicker.
- Keep family close - If your ageing parents or grandparents live right next to you, you can quickly go to them and give them the care and support they need. They can also provide assistance to your family, like child care, yet have independent dwellings. The other duplex could be a good first rental for one of your older children.
- Lower Bills - Even though you own two dwellings, you will only pay one rates bill, minimising your outgoing money. If you’re renting one half, you’re also able to claim more in tax deductions as some items will be shared across your home and the rental property.
- Higher build cost – there is an increase in the cost of the build, but not the same as building to individual homes. There is only one land purchase and there are efficiencies building them together.
- Maintenance costs are higher, you have two kitchens, two bathrooms etc.
- Living next to your tenant – you would need to set ground rules for each family’s privacy.
At BJ House we can talk through all building options with you. From standalone homes, duplexes, to unit developments. Talk to us today about your family needs and let us help get you into a home suited to your budget and family.