The Cost of Duplexes According to Builders in Sydney
If you ask duplex builders in Sydney how much it would cost to build such a residential unit, many wouldn’t have a solid answer. This is because many factors affect the total price of a duplex construction project. The cost of the land, labour, materials, and location largely contribute to the final price.
Duplex homes have been gaining popularity in recent years, mostly because of their space maximising ability and investment capabilities.
Building a duplex home is an excellent investment. By owning both sides of a duplex, you can rent out the second unit, which can produce high capital growth and rental yield. You also have the option to sell it to pay for the cost of the project and your mortgage.
To give you an idea of the costs of building your future duplex home, this blog will discuss the general price range and general factors that influence the price.
The Cost of Duplex Homes in Sydney
From duplex designs to construction, there is so much to consider price-wise. One of the biggest costs is land acquisition. Generally, most duplex homes typically cost around $600,000 – $1.2 million. Below are the major factors that influence the final price of a duplex project:
- Surveys and other required reports. Reports and surveys are necessary because they help you choose the best preliminary design. They also serve as the basis for building contracts and future expenses.
- The features of the site. You also need to weigh the costs that can come from the site’s physical characteristics. The survey will determine the expenses of siting the project on the land. However, you need to be prepared for additional costs, which may include rock removal, compaction, site cut, and more. Compliance will also incur costs, which will depend on the requirements of your local council.
How to Save Money on Your Future Duplex Home
Most duplex home builders in Sydney can provide you with information for maximising your budget. But there are still things you can do to save money on your project. Here are some tips for building your duplex home:
- Choose a layout that optimises natural light. Natural light can add tremendous value to renovations and new homes. The same applies to a duplex. Typically, natural light needs to fill your ground floor. Go for oversized glass doors and windows to keep your living space bright during the day.
- Keep a quick, ongoing pace. When you begin building your home, you need to keep moving quickly and smoothly, as the holding costs of a duplex home are usually $4,000 a week. If the market drops during the build, you could even pay around $10,000 per week. At Executive Building Group, we work fast so your budget is maximised.