All Topics / Help Needed! / Existing Property – SELL / BUILD DUPLEX

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  • Profile photo of madzmadz
    Participant
    @madz
    Join Date: 2012
    Post Count: 2

    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.

    Profile photo of dachopperdachopper
    Member
    @dachopper
    Join Date: 2012
    Post Count: 21

    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?

    Profile photo of madzmadz
    Participant
    @madz
    Join Date: 2012
    Post Count: 2

    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.

    Profile photo of dachopperdachopper
    Member
    @dachopper
    Join Date: 2012
    Post Count: 21

    I see, i’m not sure on that one…..

    Profile photo of viralkviralk
    Member
    @viralk
    Join Date: 2003
    Post Count: 65

    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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