Duplex plan

Discussion in 'What to buy' started by hammer, 2nd Oct, 2015.

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  1. hammer

    hammer Well-Known Member

    28th Aug, 2015
    Hi peoples, I was wondering if I could run a plan by you.

    I am thinking about buying half a duplex in 10 months as a ppor. My wide and I don't need anything huge, and a duplex seems to be a good option as it gets us closer to the cbd without strata fees.

    We live in Darwin which is a declining market. Part of the duplex strategy is it allows us to enter the market with a smaller loan than if we bought a house. The logic here being that if the market tanks we will be less prone to risk.

    The duplex would eventually be an investment property.

    In a few years we would look at buying the other half of the duplex if at all possible.

    Does this sound like a plan to you? Would love to hear your thoughts.

  2. D.T.

    D.T. Specialist Property Manager Business Member

    13th Jun, 2015
    Adelaide, SA
    If that suits your family's living purposes, go for it.

    However, don't base any decisions on the other side ever becoming available.

    Not to keen on duplexes as an investment (unless you own both sides), because there's a risk that someone (or something) bad happens to the other side which brings down the value of yours.
  3. GreatPig

    GreatPig Well-Known Member

    1st Jul, 2015
    A Sydney work colleague who lives in an old duplex has a different issue. He wants to rebuild his side, but the other owner doesn't (some old bloke who reckons he'll die there, even though he apparently has an approved DA to rebuild). My work colleague is having difficulties with council, who say that his rebuild will then be out of character with the other side - as if he'd rebuild it to look like the old joint it is now! It's getting to the point where they're talking about taking it to the land and environment court.