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  1. #1

    Default Opinions on Duplex properties?

    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.

  2. #2
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    3,427

    Default

    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
    More Profit from Property? TEACH ME MORE
    Ross Barnett - Coombe Smith Property Accountants
    Proud to give the best property advice for over 13 years.

  3. #3

    Default

    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.


 

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