Reasons For Building A Duplex
“We’re getting a lot of enquiries about duplexes, we’re about to start two more and we’ve had heaps of enquiries.”
“I suppose Wagga’s becoming a nice little place to invest, it’s a lot easier for people to jump into the market a lot cheaper.”
While most people looking to build a duplex in Wagga are property investors from Sydney, there are other good reasons to opt for dual living home designs.
There is good rental income in Wagga Wagga, making it a good place to invest.
While the rent from each duplex dwelling may be less than that of a full-sized home, the combined rent is likely to be more.
You also diversify your revenue so that if one property becomes untenanted for a time, you’ll still be earning from half the property.
We’ve noticed in some areas people are picking up the option of having a granny flat added to a new home build.
This is especially popular for combined families where parents are living with their adult children, but are independent enough to want their own living area.
Duplexes are a great way for families to purchase land and build a home together, while still being independent from each other in day to day living.
Wagga Wagga is home to a Charles Stuart University campus, which attracts plenty of students from rural areas looking to study veterinary and equine sciences, wine making, agriculture, business, education and a host of other degrees.
Some savvy parents have seen this as an opportunity to combine property investment with supporting their children, building a duplex near the university for their child to reside in for the course of their studies.
By having their kids in one part of the duplex and renting out the other, they’re still maintaining some income from the property, while supporting their children.
Also, when their kids finish university and move out, both residences can be rented out to students, since the property is close to the university campus.
Finally, there’s the option to build a duplex for your first home, allowing you to cleverly break into the property market and buy your first investment property at the same time.
Toby says, “it’s a great way to invest and get a new home.”
Many duplex designs come in under the price range of larger homes, but provide an income at the same time as you pay off your own mortgage.
No matter what your reasons are, the team at Stroud Homes Wagga Wagga are here to answer all your questions about building a new duplex.