What is a Triplex?
With the ever widening and continued demand for housing needs, triplex property developments offer a range of solution for inner city suburb infill. It has become an opportune time for landowners as they subdivide their blocks to maximize their property and in turn generate revenue. Triplex homes are three-unit buildings on one lot of land. The owner can rent or to sell the units individually, it is an excellent choice if you have a large block.
When planning to build a triplex home, there are two types you can choose from. One is the side-by-side where homes tend to look like townhouses but built with better privacy and street appeal as each unit stand on its own. The other one is house behind house form where each house is behind each other with a long driveway down the side.
Besides these two common types, there are also two common triplex layouts, the first is four bedrooms, two bathrooms and the other is three bedrooms, two bathrooms, but these layouts can of course be modified and usually a 4 by 2 triplex is a double storey.
Should you consider building a triplex?
- Triplex homes may also mean a triple potential income; it is a no-brainer in terms of maximizing returns of your development.
You can have a check on your council and see if your land will fit a triplex home, but generally in most established large blocked suburbs if your block is zoned R40 or above then a triplex could be an option for you.
- Consider how many units are you willing to be attached to yours, a 2-4 unit property has two or three units to be rent out, each unit contains all the amenities that must cater to the needs and comfort of a family.
In that case, you need to understand that you are responsible for the maintenance cost and repairs, as well as other landlord duties for your property, but then if this sounds too complicated you can always hire someone to do this work for you.
- Find the best company to suit your development. Carefully engage in different designs and plans to get the best value from your investment.
A well well-detailed plan including property assessment, quotations, and precise costs will help ensure a successful venture.
Why think about a triplex?
Triplex designs are a popular trend most especially in the metropolitan area, where many hopes to find a home and live close where it can support a lifestyle and work they consider best for their need and comfort.
As a result, homeowners with a large space give it a huge consideration, knowing it does make a good investment as it, in turn, generates a good income to help with mortgage and as a good way to make use of their block.
In comparison to duplex homes, a triplex development involves more planning considering that it is more challenging a task than that of a duplex where one mirrors the other. Thus finding the best company and team to help you out is a crucial step if you are looking to engage in this process but is altogether a worthy enterprise!