What is a Duplex?
A duplex is most simply defined as being a single housing structure that is divided into two separate residences. Each residence or home has its own entry, own driveway, own garden, and all the features that you’d expect from a freestanding house.
A duplex residential building contains two homes that share a common central wall. Each home in the duplex is lived in by a separate family.
Sometimes the pair of homes in the duplex will be owned and sold together if they exist on one land title. Sometimes separate titles exist so a duplex pair can be individually owned and sold.
Owners must agree to a building insurance policy that covers both sides of a duplex. A body corporate is not usually needed, although this depends on the age of the duplex and its jurisdiction.
The biggest advantage of Duplex for buyers is the price tag: often up to half of what you’d pay for a similarly located detached house. This is great news particularly to first-home buyers, anyone on a moderate budget, or anyone wanting a low-maintenance lifestyle in a premium location including retirees and downsizers.
For many PSCA’s clients as Duplex developers, this type of property’s value can be maximised when you build two homes instead of one on a parcel of land. It is such a great opportunity to utilize available equity and create profit from dividing the property into two dwellings. PSCA are experts at completing this type of the project for you – we take care of everything to make it simple. You may already have your own site, or you may use our “Development Assessment ”service – we will find one for you!