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A duplex is a dwelling on one block of land with two separate living quarters and totally separate entrances that can cater for two sets of occupants. Building a duplex can be a great investment for home owners and landlords, so no matter what stage of life you’re in there are so many benefits and potential profits to be had when building a duplex!
If you’re a first home buyer looking for your first home, why not consider building a duplex? You’ll have a home to live in on one side, and another home to rent out, creating a stream of income to help you pay off your mortgage, while still enjoying living in your own beautifully built first home. The rental income from the second dwelling will significantly reduce the financial strain and save you the hassle of having roommates in your own home!
Many duplex designs will fit on a narrow block, so you can fit two homes on one piece of land and get double the return. If you’re looking for a great investment property, building a duplex will give you two separate homes in one spot you can rent out or sell, creating a double stream of income. In the future you’ll be able to choose whether to continue renting out each dwelling, or choose to live in one yourself, while still benefitting from the additional income the rental dwelling provides.
Once your kids grow up and move out it can feel like you’re not utilising all the space in your family home anymore, and you may decide it’s time to downsize to a smaller house. Building a duplex will give you enough space to enjoy a contemporary open-plan home to welcome the family and visitors anytime, while providing you with a rental property on the other side to contribute towards your retirement nest egg with additional income you can use later in life.
If you have family members who require a little more care and attention but aren’t quite ready for assisted living facilities, a duplex is the perfect alternative! Each family will have their own separate living space, but you’ll be neighbours, so the opportunity to check in daily and help out will be a beneficial convenience for both parties. When help is needed, you’re right there to assist, and with young families living next door to grandparents who are still able to lend a hand with childcare, the burden is eased on working parents.
Building a duplex gives you so many opportunities for additional streams of income, investment properties and family living arrangements. Our new Elwood duplex designs offer the perfect combination of features to enhance every day living! With different floor plans to choose from, there’s an Elwood design to suit every family, need, lifestyle, and budget! The beauty and practicality of the Elwood not only lies in its design, but also in its possibilities with the ability to mix and match any of the Elwood floor plans to create your ideal duplex! Head over to the Hotondo Homes website today to find out more about our duplex design range.
Essentially a duplex home consists of two separate living quarters and entrances that can cater for two different households, all within one dwelling. Duplexes can be the perfect living arrangement and create substantial financial gain and investment potential.
An investors dream
Duplex homes offer an affordable way to strongly enter the property market and build up your property portfolio. They create the ability to generate two rental incomes whilst owning a single block of land.
Ultimately with a duplex you can get the most out of your land as a two for the price of one situation emerges. You can generate double the return than if you were building one home on the same sized block.
Options and flexibility
With a duplex home you are provided with different opportunities and options to suit your current stage of life. You can live in one and rent out the other, occupy both or rent out both – the choice is completely up to you.
Meet the special requirements of your family
If you have a family member that requires extra care or supervision, or a grandparent or young adult that’s not quite ready to leave the nest, then a duplex could be the answer. This enables you to be close to your loved ones whilst ensuring they can still maintain their independence. You get to preserve your privacy while still having peace of mind and security.
Hotondo Homes has a range of duplex options to consider:
The Aon 265 comes in two different configurations, the courtyard and the garage.
The Halifax is a double storey home that can be used in isolation, turned into a duplex or rearranged in a multiple townhouse development.
For more information on duplex homes, contact Hotondo Homes today at hotondo.com.au
If you are looking to buy a property either to live in or as an investment, you should consider buying a duplex. A duplex is essentially a dwelling with two separate living quarters, two entrances that can cater for two families. Purchasing a duplex can be great investments for homeowners and landlords.
To get a significant rental return from your duplex you have the option to rent out both homes and collect two rental incomes, or live in one and rent out the other. The rental income will significantly reduce the financial strain of your mortgage repayments and save you the hassle of having to actually live with roommates – bonus!
Because you can fit a duplex on a narrow block, you can fit two homes on the one block and get double the return than if you were building one home on the same sized block. For investors, you can sell or rent out two dwellings, as opposed to having the one income from the one property.
If you have a family member that requires extra care or supervision, you can live close to them but not in the same house. This enables you to keep an eye on your loved one, without having to put them into a nursing home. They get to maintain their independence; you get to preserve your privacy and have peace of mind that you are close.