The How and Why of the Perth Development Market:
You may have heard of the “Perth Urban Sprawl” which refers to the vast stretch of suburbs and housing across our city. Owing to this, some councils are now allowing for duplexes and triplexes to built on home-sites that were previously used for single residence only.
Obviously, the biggest benefit of building a duplex and triplex developments is the potential for increased financial return. Selling or renting out three homes versus one will greatly increase your capital.
Saleability is also key. By building two or three new villa’s you are set to benefit from two highly desirable features in the present market: affordability and low maintenance care. Also with the bonus of being brand new!
But how? Three simple steps will get you on your way:
- Firstly, determine your budget by contacting your financial adviser or lender.
- Contact a reputable builder with experience in building developments. Your Perth property developer can contact the relevant shire to determine if the home-site is eligible for multiple units. This will be due to allocated R-Code. We can also help you source a suitable block if you are yet to find the right one.
- Lastly, it’s time to discuss designs. Your builder will be able to provide you with suitable designs for your block and instructions on how to move forward.
That’s it! Breaking into the real estate development market is an excellent first step to financial growth, and most investors will repeat this form of venture project recurrently, further increasing their capital.
Take a look at our developments page for more information and pictures of our past triplexes and duplexes