When we were kids, we had our own perceptions of what a house looks like which is usually a stand-alone house or a triangle over a square. But for new home builders, there are actually 35 different types of houses – from apartments to cottages, high-rise condos to estates. Human dwellings have evolved as much as humans have, and they are considered to be a necessity in Maslow’s hierarchy of needs.
Having said, investing in a new home is very important.
In Australia, property is a prized asset and has been a source of rental income for many of its citizens. Houses are also very much diverse in Australia. According to iqiglobal, the top 6 housing types in the country are stand-alone houses, terrace houses, semi-detached houses, townhouses, flats and duplexes (arguably, with the last one having the best return on investment.) Duplex homes in Sydney may require approval from the local council but they have a lot of advantages of other house types.
Earn from rental income
Duplexes beat stand-alone houses especially when you are looking for extra means to grow your money without giving up your place. New home builders construct duplexes for people who want to live in their property but at the same time earn from it. This is usually a financial strategy to use a fixed asset as a way to grow investment. Rent dues will provide you a steady cash flow without giving up your property.
Double your income on rent
Some people on the other hand don’t need to live in their property. But since they want to earn from it, new home builders may also suggest a duplex as it can double rent income without having to spend double when compared to townhouses or apartments. They are also preferred house types in suburban areas since mid-rise or high-rise properties are frowned upon (as it might look like a sore thumb in a low skyline.)
Keep costs low
It’s a well-known fact for duplex builders that you can keep your costs low when you invest in this house type. Have you ever wondered why duplexes appear to be a mirror image of its other half? That’s because the only thing that divides it is a central wall. And that is the secret to keeping your construction expenses controlled. It’s just like having one symmetrical house built with a wall in the middle. It’s definitely cheaper because you do not have to invest in more construction materials.