The professional services of an agency specialising in the construction of granny flats and duplexes can be essential to your family’s financial future. Granny flats and duplex complexes are practical and versatile buildings that could house special people in your life and generate extra income for your family to enjoy. Calling granny flat builders in Sydney, NSW, may be necessary for the entire construction process of your secondary dwelling to go smoothly, from the planning stages to the actual completion of the property. On the same note, using the services of duplex builders in Sydney could be one of the most sensible steps you can take if you are curious about the financial potential of buildings constructed in New South Wales.
Would you like your children to have their own space that would double as a playroom? Then a granny flat is just what you need. Do you dispose of a bigger budget and want to achieve a better ROI in the long run? Then an expertly built duplex complex will probably be an ideal investment for your future. But how exactly can you ensure you are using the services of professionals? And why should you be interested in investing in secondary housing units? These questions are legitimate and require detailed answers, so in the next few minutes, we invite you to explore them together and find out why now is an excellent time to consider investing in a small housing project.
Find a Professional
Housing in Australia is costly, so in recent years, many people have been turning to house developers to create from scratch properties customised to the client’s requirements and budget. Do you already own a primary residence but need more space? Then the professional services of granny flat builders are what you need. What should these professionals look like? First, they must have years of experience in the Australian market and collected testimonials from dozens or hundreds of satisfied customers over the years. It is imperative to use the services of granny flat builders who are familiar with local council requirements and provide separate customer service departments to answer your potential queries.
The quality of the services provided by the agency you use should be guaranteed by catalogues of previous works. And the work started on your lot should be covered by a full guarantee. The last thing you want is for the finished building to fail a building inspection after payment, so a warranty is necessary. The contacted granny flat builders in Sydney, NSW, should be adequately insured, follow a work schedule that correlates with your daily activities, and last but not least, charge a price for the offered services that is competitive with the rest of the market.
Why Should You Invest in an ADU or a Duplex?
You are a financially savvy person, so you frequently look for ways to maximise your family’s monthly profit. The median price of a single home in Sydney, NSW, exceeds $1.2 million, which is beyond the possibilities of most Australians, so many people are turning to rental units. But as the number of people moving to Australia’s major cities like Sydney, Perth or Melbourne is increasing, rental prices are rising, and so is the crisis of affordable housing that has become synonymous with our country’s property market. A granny flat could be constructed for less than $80,000, and at a weekly rent of $500, it could allow for your investment to pay for itself in five years, including the income tax.
No matter how we look at it, ADUs can be an outstanding investment and a veritable financial lifeline for your family. On the other hand, a duplex built by professional duplex builders in Sydney can represent a more significant investment, the price of which can, in many cases, exceed $600,000. But duplexes have the advantage that they can be rented to two families at the same time, which can be vital if you want to maximise your profits. Moreover, duplexes are basically two housing units next to each other.
If you wish, you could live with your family in one and rent the other, which would completely amortise your living expenses. Both granny flats and duplexes are great investments, and as the global real estate market is growing, you will most likely earn significant amounts in the long run. However, you need to know the market and regulations very well before you start the planning process, and here the offerings of AUDs and duplex builders operating in Sydney, NSW, could help you enormously.
Why is Australia Dealing with a Housing Crisis?
Australia is one of the most developed countries in the southern hemisphere. However, the country’s geographical particularities mean that the housing market is constantly in a catch-up game with the general demands of the population. By and large, Australia’s population is concentrated in just a few large cities located on the coast, making the price per square metre of land in these urban sprawls soar. For lack of better terms, it’s a supply and demand issue. As the population is concentrated in the same place, and job opportunities are also specific to certain areas, the property boom can’t keep up with the number of people needing housing, and prices rise. But there are other factors too.
Median wage increases in Australia have fallen in recent years. This, combined with global inflation, logistical difficulties following the COVID pandemic, foreign investment in the housing market impacting average dwelling prices, and government measures disrupting social housing policies, ultimately translates into higher costs for Australian families. However, where there is a crisis, there can be an opportunity, and if you have some money set aside, investing in an ADU or a duplex in 2023 can be a lever that will help you enormously financially in five or ten years.
The Well-Being of Your Family is the Most Important Thing
Like all of us, you put your family’s financial and emotional security first, and therefore the economic decisions you make now could significantly affect the emotional and financial stability of your loved ones in a few years. Want to take advantage of the economic climate in Sydney and earn a passive income? In that case, turning to ADUs and duplex builders might be one of the wisest ideas you can have. But money isn’t everything, and sometimes what matters most is being there for the important people in your life.
Are your parents getting older, and you want to be by their side? Then a granny flat or a duplex could be the building that blends in practicality with the privacy they need. Are your children grown, and do you want to give them more freedom? Then a granny flat could be an inexpensive and practical building that meets your family’s needs. Both duplexes and ADUs are constructions that can significantly boost the value of your primary property, all while being used to enhance your family’s well-being or generate additional income.