Are you a lucky candidate? – Decades may have passed, and the property you’ve been calling home for a long time may no longer be as functional as it used to be. Its structural integrity may have degraded and the design will more than likely be out of date. Maintenance is usually high and it could be the wrong size for your needs.
Many older homes bought 25 to 30 years ago have been paid off by their owners and are situated on large allotment over 680 m2. If this sounds like you and you are looking at staying in the same area but wanting a different home, then you're a lucky candidate for a knockdown and rebuild of a dual occupancy investment.
Build two get one free
Knockdown and rebuild developments are all about letting you live in the home you want without the need to move to a new location, with the added bonus of making money. Rebuilding a dual occupancy on your existing home site is the best way to unlock all the capital in your biggest asset.
Building multiple new homes on the same lot, enables you to keep one for yourself and rent out or sell the others. The sale of the second home will in most cases pay for your new one.
The proof is in the figures
If you own your own home and you are on an allotment larger than 680m2 these figures may also work for you.
- Build two new houses $540,000
- Sell one of the homes for $553,500 and the basic costs of a knock down rebuild are all covered
- The rebuild your new home $13,500
- Add the second new home to your real estate investment portfolio
What next?
If you sound like a candidate for a the rebuild of a dual occupancy on your existing home site, Berstan Homes is the perfect company to guide you through the process. We can take you through case studies of similar projects and help you with the figures. You will have access to your own personal builder with more than 30 years experience.
To find out more contact us today on 9841 9998.