With excellent returns on investments and a growing demand for housing, it is no surprise that many Perthians choose to invest in property development to help ensure their future financial security and increase their wealth. If you are also considering building or expanding your property portfolio by developing a block, The few development options are shown below through pictures:
Increasingly, Perth property owners are realising that their backyard is an investment opportunity and are choosing to capitalise on the land they own by building another house behind their existing home. In doing so, they then have the potential to rent out that back property and earn an income from it. Alternatively, with a house behind house design you can build your dream home behind your existing home and can then rent out or sell the second house.
As the cost of land increases, many Perth landowners are subdividing their land to build two low-maintenance properties known as duplex dwellings. Choose from a number of variations, including a traditional front and rear duplex development, or build two new houses side by side so both duplex properties enjoy street frontage.
As a general rule, adding more units into a development has a multiplier effect on potential returns. Adding too many units can increase risks and costs. For those reasons, triplex developments are often viewed as the best type of development to maximize your returns. On one block, triplex developments generally have three single or double storey homes around a shared driveway.
Multi-unit developments have the potential to maximise the use of your land, through dividing and developing a large block into many medium or high-density units. Multi-units can consist of houses, townhouses, apartments and other units which usually share common facilities like parking areas or security