The Cost of Building a Duplex

Building a Duplex can be an exciting and financially rewarding venture. Duplexes are a popular housing option for investors and homeowners alike, offering the opportunity to live in one unit and rent out the other or maximise rental income from both units. But before you embark on this journey, it's crucial to understand the costs involved.

LAND COSTS

Land prices can vary significantly depending on the location, size, and local real estate market. The cost of your land will largely depend on where you choose to build, so it's essential to research and budget for this expense accordingly.

DESIGN AND PLANNING

Finding the perfect duplex design and obtaining the necessary approvals and permits are crucial steps in the building process. MOJO Homes have 11 new Duplex designs to suit a variety of blocks and can assist you in designing your duplex according to your preferences, which may include customising floor plans, facades, and inclusions.

CONSTRUCTION COSTS

The construction costs are perhaps the most significant part of building a Duplex. MOJO Homes offer various design and construction options, each with its own price range. Your choices regarding materials, finishes, and inclusions will also impact the final construction cost. Our New Home Consultants work closely with you to determine a construction budget that aligns with your goals.

UTILITY CONNECTIONS

You'll need to budget for utility connections, including water, electricity, gas, and sewage. These costs can vary based on location and the type of services available in your chosen area.

LANDSCAPING AND OUTDOOR AREAS

Don't forget to consider landscaping and outdoor areas for your Duplex. This includes features like gardens, driveways, and outdoor entertainment spaces. The cost of landscaping will depend on the size of your land and your landscaping preferences.

LEGAL AND FINANCIAL COSTS

Building a duplex involves various legal and financial expenses, such as conveyancing fees, loan application fees, and insurance costs. It's essential to consult with legal and financial professionals to navigate these aspects of the project.

ADDITIONAL COSTS TO BUILDING A DUPLEX

Other expenses can include site preparation, demolition if necessary, and any unexpected construction challenges. Setting aside a contingency budget can help you cover unforeseen costs that may arise during the construction process.

Each duplex project is unique, and costs can vary based on factors like location, design, and inclusions. By working closely with MOJO Homes and conducting thorough research and budgeting, you can embark on your duplex building journey with confidence. Remember that a well-planned project can offer you both a comfortable living space and a potentially lucrative investment opportunity.