Building a duplex has several advantages for promising homeowners, particularly when it comes to maximizing the potential investment of your land and accommodating extended family.
Our TOP 4 Reasons to build a duplex/townhouses are:
1. A duplex is a solid investment
It can produce strong value growth and high rental yields for a much lower price than a detached house.
2. Pay off your mortgage faster
The extra income by selling or renting out the other home will give you increased funds to reduce your mortgage and increase your equity.
3. Keep family close
Having family live right next door can mean you can take care of elderly family members and avoid them going into aged care, can be more cost effective aswell. having your parents or siblings next door can have many advantages aswell, cousins and grandparents creating a closer bond by being able to spend more time together.
4. Get into the property market
You can get started by building a duplex, living on one side, and renting out the other. Or you can rent out both sides of the duplex and pick up two income revenues. The rental return rate can make for positive cash flow from the start.
If you would like to discuss building a new duplex, get intouch with the Renxtend team.