Would a duplex be the ideal investment for you? Here are the essential considerations when building a duplex:
- Rental Demand: Assess the rental market in the area to determine demand for rental properties. Enough, you’ll find there’s a strong market for rental properties in Sydney and surrounding areas right now.
- Location: Consider proximity to amenities, employment, services, transport and areas with strong economic growth. Keeping these factors in mind will improve demand for your property.
- Legal and Zoning Considerations: It’s important to consider regulations and permits required for building a duplex. Put some time aside to research these in your area, as it may vary across NSW.
- Cash Flow: Evaluate potential rental income against ongoing expenses to ensure positive cash flow on your investment.
- Property Management: Decide whether you can manage self-management or need to seek professional property management when operating your property.
- Financing Options: Explore available financing options, including interest rates and lending criteria.
