DUPLEX LIVING
What Is a Duplex?
A duplex is a residential building containing two homes that share a common central wall. The two properties are typically arranged side by side and have separate and distinct entrances, driveways, and gardens, as well as the features you would find in a free- standing home such as a kitchen, bathroom, bedrooms and living spaces.
The two units in a duplex development can exist on a single land title, Torrens Title, or be subdivided into separate titles, which means they can be sold and dealt with individually. Each home or unit can be lived in by different residents as it has its own mailing address and facilities. That’s why it’s known as the premium property investment and a requirement in a property investors portfolio.
Different types of Duplexes
Single Story
Duplex buildings are available in different configurations. The most popular duplex type is the single-storey duplex, which has both units built on one level and separated by a vertical centre wall. The entrances to both units can be side by side or on opposite sides of the building.
Double Story
Two-storey duplexes are becoming increasingly popular, too. Unlike single-storey ones, two-storey duplexes consist of two separate two-storey units/homes that share a com- mon centre wall that reaches through both storeys. The structure of each unit also tends to be slightly different, with the kitchen and living areas located on the bottom floor and the bedrooms and bathrooms on the upper floor.
Duplexes Are Affordable
Duplex properties are usually more affordable when compared to freestanding homes in the same neighbourhood. Most duplexes are located in affordable areas of the city as well, which means you’ll find it less financially straining to buy a home. Not to mention that duplexes have the added benefit of generating rental income from renting the other unit of the property, which makes them even more cost effective.
Rising prices in most Australian cities have made it increasingly difficult to buy a house. This is particularly so for potential first homeowners. Buying a house in the suburb where you want to live may not always be possible as repayments for a detached house home loan may be unaffordable. However, buying one half of a duplex house is far more afford- able and will give you an option that comes with more financial freedom. This gives you more options when selling.
What’s more, elderly relatives who live next door can avoid or delay having to go to a retirement village or nursing home. It’s also cheaper than paying for another house, unit, or retirement village, allowing them to save some money.