Hi there, Just wondering in a overall property value perspective, are the value of these property perceived to be the same. Duplex 370m2 Freestanding 370m2 Both brand new builds and assume fixtures are both the same. Would the freestanding be worth more purely because it is freestanding? say 100k?
Yes it will be worth more. The $ difference would be a lot more in an area where medians are 5m, vs 700k.
There is a substantial difference. I investigated this topic for knockdown on a large block - what was better, land division followed by build of 2 stand alone versus duplexes. Big difference. Market perception is quite different. Ceiling for duplex in 400Ks, Ceiling for standalone in 600Ks. Hard to figure but there it is.
My mortgage broker perceived them differently too. I was deciding between a freestanding house vs duplex; he said "in duplex if walls are thin, the neighbours can hear you."
Yes, finance perceives them massively differently, as does RE at sale time, buyers, pretty much everyone. So i think a duplex is a compromise for someone who can't afford a free standing house. The poms just call them semi detached houses, but we see them sooo differently. BTW Sakura is cool name. Reminds me of a japanese classical guitar piece
Is a detached house but on the same title still considered freestanding? i.e a house that is on a Strata title. Would these detached house also perceived as higher value or would they fall under the same category as a duplex. I assume they are strata titled because 370m2 would be too small to be on a title on it's own (Depending on council of course).
Well i think freestanding and not free titled is not as good as land division. With duplex i think the join between garages is effective in reducing the closeness of the residents, so i think there would be only minor difference between freestanding strata and duplex. Others may advise differently?
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