Before embarking on a project to build a duplex in Sydney, it’s crucial to develop a feasibility plan. This plan evaluates the potential of your property for a duplex development and ensures the project is financially viable.
These are the steps of a feasibility report:
- Site analysis: Start by assessing your land's size, shape, and orientation. Check its zoning to confirm that duplex construction is permitted (Dixon Homes Sydney can help you achieve this). Understanding the land’s characteristics will help determine the type and scale of the duplex you can build.
- Cost estimation: Next, estimate the duplex construction costs and other associated expenses. A detailed cost estimate helps in budgeting and financial planning, and Dixon Homes Sydney will help you by providing a breakdown of the costs involved.
- Market research: If you are building a duplex in Sydney as an investor, it will help to analyse the local property market to gauge potential returns. Research rental yields, property values and market demand in your area. This information helps assess whether the investment will provide a satisfactory return.
A comprehensive feasibility plan ensures your project is well-planned and financially sound, setting the stage for the next steps. To get started for free, reach out to
Dixon Homes today. We apply years of expertise to make sure you get more for less.