A duplex is a residential structure made up of two houses that are connected by a central wall or a single plot of land with two dwellings on it. It is referred to as a house behind a house. You can own both and sell them together if the two homes are on the same land title, or you can divide the land and sell the homes separately.
REMAIN CLOSE TO ELDERLY MEMBERS
You can live in one duplex construction in Sydney while your elderly relatives reside in the other. If your elderly parents or grandparents reside next door, you may easily visit them and provide them with the attention and assistance they require. If they have health problems, this is very crucial. You can assist one another with cooking, household duties, and much-needed company.
IMPROVED FUNDS FOR YOUR MORTGAGE
A duplex construction in Sydney can fast build equity, but results will vary depending on the circumstances. A duplex can produce a high rate of return as well. For instance, you can earn a high return of 6.1% to 7% annually by renting out each home for $350-$400 per week. In order to continue earning a high-interest return, you may also think about renting out just one side of the duplex to a tenant while residing in the other.
INCREASE YOUR REVENUE
A website for holiday rentals, to rent out one or both of your homes, you can make more money than if you used a standard one-year contract. This is due to the fact that holiday rentals, which are short-term stays, can be priced higher. You might anticipate earning nearly twice as much as you would have with a typical lease.