Duplexes have become increasingly popular amongst first home buyers who seek a property which will fit the first home owner grant requirements and also offer a return. To accurately measure the benefits and detriments in the long run, it is important to consider the difference between duplex and house through the differences in lifestyle and investment.
A duplex is when two residential homes are built on the same property but share a common wall. Each home is divided and has their own functional living area, kitchens, bedrooms, garage, alfresco, driveway, and also a portion of the land. Some obvious benefits of duplexes include a lower price tag in the same area and ‘lower’ maintenance through a smaller portion of land.
In terms of value differences, a single dwelling home on a piece of land is obviously superior, with a higher rental yield, larger growth value through a larger land and house portion, as well as being viewed as more valuable by banks. Although the initial investment price tag is higher, it could be argued that it is worth the return in the future.
In terms of living differences, many people say that it all depends on the neighbour. As the residents will be sharing a common wall, issues of noise will travel. Depending on the separation arrangements (which could mean that the duplex is divided down the middle, as two separate storeys, or as front and back housing), issues of privacy can surface. Many say that living in a duplex is a bit of a wild card, since much of the living experience depends on the neighbours and how willing they are to communicate and be accommodating.
Thus, ultimately it is up to each investor, first home buyer and owner occupier to consider their financial circumstances, and whether the difference in the initial price tag is worth the wild card.
I am specialised in these areas across the state of New South Wales:
Austral, Bardia, Box Hill, Bringelly, Catherine Field, Cobbitty, Edmondson Park, Glenmore Park, Gregory Hills, Jorden Springs, Kellyville, Leppington, Luddenham, Marsden Park, Menangle Park, Mulgoa, Oran Park, Penrith Region, Riverstone, Rossmore, Rouse Hill, Schofields, Spring Farm, Vineyard
Headquarters: Sydney. New South Wales. Australia
Industry: Real Estate. Land Acquisition. Building. Construction
Type: Companies Privately Held