If you’re looking for a property investment opportunity, it’s an ideal time to consider the Sydney market. With a high demand for rental properties and a rapidly developing infrastructure, the city provides numerous opportunities for homebuyers to live in and earn extra income.
Duplex or Dual Occupancy Homes
A duplex is a building with two separate dwellings, each with their own entrances, kitchen and amenities, separated by a common wall. It can exist on one land title, and can either be owned and sold together, or on different titles and sold and owned individually.
Difference between a Duplex and a House
A house is a building with one dwelling under a single roof. A duplex, on the other hand, has two individual dwellings with separate entrances and amenities.
Why Duplex is a Great Option in Sydney?
Building a duplex can be an attractive proposition in Sydney, with a high demand for rental properties and the option to live in one section of the duplex while renting out the other. The city’s rapid infrastructure development, upcoming shopping centres, schools and hospitals, low mortgage rates, and work from home options are driving forces behind the Sydney property market.
Interstate migration rates have also increased, as people from other states move to Sydney. The city’s strong growth is expected to continue for the next 5-10 years, making it an ideal time to invest in a duplex. Depending on your circumstances, you can choose from a range of investment strategies:
- Live in one unit and rent the other
- Rent both units to tenants
- Sell – if your duplex is in the right location, the value will appreciate over the years and you will be able to see a good return.
Why Consider Building a Duplex?
If you’re looking at a property for investment purposes, building a duplex can offer higher rental yields and growth than what you could earn from two separate houses in the same location. It can also save you money on land costs.
For first-time homebuyers, buying a duplex can be cheaper than buying a house. You can live in one side of the unit and rent out the other side. The extra income can be used to pay off the mortgage and utility bills. And you’ll also be able to enjoy your privacy without the hassle of sharing your space with flatmates.
Duplexes can also be rented out for short-term stays on Airbnb. A duplex in a tourist area like Sydney can be rented out for higher prices. You can also rent a spare room in your home and increase your revenue.
Looking for Duplex Builders in Sydney?
If you’re considering building a duplex in Sydney, speak to the experienced builders at Sena Constructions today. Our team will guide you through the entire process, from design planning through construction and completion of your project with prestige. Contact us today to learn more.
