Opinions on Duplex properties?

[rmalapati]

Hi all, Just would like to know your thoughts and opinions on buying a brand new Duplex house[which shares common wall with another house]. Is it worth waiting and buying a standalone when we could afford[50K more] or Duplex properties are common now a days and won't be an issue to re-sell later in next 5-10 yrs. Any opinions or experiences ?

One of my friend told especially, with Kiwibuild programme most of the houses will be Terraced, Duplex to make the housing dream possible for mid-class families. In such case probably, market or demand for Duplex properties will be lesser and it's likely that I may not gain much value for my Duplex property when selling.

I will look forward for your thoughts.Thanks in advance.

[Rosco]

Hi rmalapati, That is a real hard one. If you are talking about Hamilton, I think a lot of the Duplex properties are over priced and developers are just trying it on.

Long term - I think NZer's demand for property is slowly changing to easier care, and NZer's are slowly getting more used to joined properties.

But if I was buying, I'd prefer to buy some land where long term I could add value (ie subdivide, add minor dwelling etc).

If you are developing and building duplex properties to hold as long term rentals, I have no issue as they are generally costing you less.

Ross

[rmalapati]

Thanks for your opinion Ross. I wish i could do that I mean buying a land but unfortunately servicing mortgage repayments without receiving active income as rents will be tougher.