In this New Property Australia Case Study a couple were seeking their first investment property and required a solution that would supply instant equity uplift.
Duplexes have been a popular type of property for many years. Most LGA’s allow them, although not all do.
The main advantage of a Duplex is that it can be Strata Titled (split into two titles) after construction is completed. Strata Titling is not mandatory and some buyers choose not to, so as they only incur one set of Council rates. If the decision to Strata Title is made, a body corporate is formed to manage the common property and public liability insurance. The common property areas can often be minimised thus reducing some management issues etc. Even after a property is Strata Titled, in some circumstances it is possible to subsequently have the Body Corporate dissolved if the owners of both units agree.
Duplexes are commonly single storey or two storey. Depending on zoning and density allowances, they could even be 3 or 4 storey, with a lift and possibly a basement carpark.
It can sometimes be possible to build a Duplex as two separate buildings, depending on the LGA and site size, shape and allowable site coverage.
Each unit is allowed to have its own egress (driveway crossover) so there is no requirement for the garages to be adjoined and in fact they could be located on different streets on a corner block.
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Queensland is on the cusp of a property boom that could see prices rise more than 20 per cent and last for years to come.
The post COVID property boom could push QLD home prices up 20pc appeared first on realestate.com.au.
Understanding the key reasons as to why you want to invest in property has become even more integral in the age of COVID-19.
The team at New Property Australia is readily available to discuss your property investment goals and what the next steps in your property investment journey should be.