Hello Everyone,
I have a bought a property in one of the western suburbs in Sydney in 2009 with an old renovated house on a quite a big block exceptionally close to a station for $400k.
As i have been there almost 3 years now i'm weighing my options. After some research on this block I can either build a house or a duplex. I do not want to build a house as it is on a busy road. My other option is to know down and build a duplex. The current value of the block is around 500K.
On average each Duplex houses are advertised around 600K in the market.
What is the average cost to build a duplex houses with 4Bed, 2.5 Bath & 1 Garage in each house ?
Is it worth to build a duplex and go through all the efforts to make a profitable margin after selling ?
What are the factors i need to consider ?
I know I need to calculate demolition
I know I need to calculate rent between demolition and building completion.
I know I also need to seek a bank for the construction costs and also calcualte the interest.
CGT?
etc…At the end of the day I would like to build duplex houses, sell 1 immediately upon completion and stay in the other one for another 2-3 years and then either sell or rent it out.
I would say the duplex would be around $400 – $450,000, but it really depends on how big it is, and the inclusions aswell, rather than how many rooms etc.
I’ve just done a 3 bed, 2 bath, double gge, alfresco back area with double sliding doors and that was around 450K
You need to pick a builder and get some quotes really before you can do the maths, one builder was quoting me over 100,000 for less of a house than another one. It pays to shop around, and I would look at the smaller builders in the poor”er” areas also. They normally have the best prices and the best tradies.
Can you fit a granny flat out the back?
May be better off putting the granny flat there first, then build the house?
Thank You dachopper I will check with builders to get an idea.
In regards to granny flat – Yes I can easily fit a granny flat but my question is can you build a duplex with a granny flat behind?
I know I can build a house with granny flat but not sure with duplex.
The council allows dual occuppany on my property… I think either duplex or house with a granny flat.
I see, i’m not sure on that one…..
Hi 400k to build both the units or one? thanks.
dachopper wrote:I would say the duplex would be around $400 – $450,000, but it really depends on how big it is, and the inclusions aswell, rather than how many rooms etc.I’ve just done a 3 bed, 2 bath, double gge, alfresco back area with double sliding doors and that was around 450K
You need to pick a builder and get some quotes really before you can do the maths, one builder was quoting me over 100,000 for less of a house than another one. It pays to shop around, and I would look at the smaller builders in the poor”er” areas also. They normally have the best prices and the best tradies.
Can you fit a granny flat out the back?
May be better off putting the granny flat there first, then build the house?
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