costs for duplex construction
- Thread starter g.field13
- Start date
That's very good of you. Thanks in advance
Agree.
I was thinking of doing a quick cash funded duplex development locally in Caringbah South to fill in a gap between the next big thing.
However, on basic calculations, there is virtually no profit to be made at current prices, and the risks are high if the market drops back a bit or dies off.
A block for 1.3 mil now would have been 800k a few years ago, so the profits are gone.
Sure the end product price will be up to, but not proportionately and all associated costs have risen too.
Gents, seeing some crazy prices in Miranda and Gymea recently ie ;
http://www.realestate.com.au/property-house-nsw-miranda-119493215
Whats this about ?
http://www.realestate.com.au/property-house-nsw-miranda-119493215
Whats this about ?
That's wierd....
This one only a street away for the virtually the same price, but seemingly better development potential.
Sydney has officially gone crazy all over now.
Why are there still buyers around at these prices?
I got a few year old duplex development in South Miranda,(own both) on almost 700sqm only 250m from Miranda Train station and Westfields.
Had it valued a few months ago and it only came back at 1.36 mil.
Then there's these single dwelling knockdown jobs on worse/smaller blocks selling for 1.3 mil......
WTF
Here's another one Ace, post code a little better.
https://m.realestate.com.au/property-house-nsw-gymea+bay-119422763
At that land size would you get a duplex on the site?
https://m.realestate.com.au/property-house-nsw-gymea+bay-119422763
At that land size would you get a duplex on the site?
Dunno, that site's quite narrow looking at the house.
I'm not so sure Gymea is regarded better than Miranda, Gymea Bay maybe.
Miranda has everything you need close by.
I'm not so sure Gymea is regarded better than Miranda, Gymea Bay maybe.
Miranda has everything you need close by.
Yeah that ones a gymea bay address
This duplex recently sold in Caringbah South for $1.62 mil. 
http://www.realestate.com.au/property-house-nsw-caringbah-119958897
I think there is money to be made, but i wonder how much longer this craziness will continue for.
http://www.realestate.com.au/property-house-nsw-caringbah-119958897
I think there is money to be made, but i wonder how much longer this craziness will continue for.
and action clearance rates around 90% this weekend.
https://www.realestate.com.au/auction-results/nsw
https://www.realestate.com.au/auction-results/nsw
This duplex recently sold in Caringbah South for $1.62 mil.
http://www.realestate.com.au/property-house-nsw-caringbah-119958897
I think there is money to be made, but i wonder how much longer this craziness will continue for.
Damn, that's a high price.
I'd like to know the costs for something like that to see if a similar block in the area is worth developing.
But if the market goes soft in 18 months, there could be problems.
very true, but there are still plenty of cheap buys. you just need to wait for the listings that are with **** agents of are not marketed correctly! what kind of bigger project are you working on ?
I know the reserve for that one was in the mid 900's. Two Chinese investors on the day went crazy. One of my clients was looking at the property and we where estimating it would sell for late 900's possibly early 1s.
Insane result, Miranda and Gymea are so hot at the moment both due to there amazing local centres making them great places to live.
A brand new 2 bed unit with 3 car garage in Gymea just sold for 900k. Just over a year ago I set the record for Gymea units at 605k now it would sell for 680k+.
The way I look at duplexes is that for a townhouse developemt you look for 30% but it takes you 2.5yrs.
if you can do 2 duplexes a year at 10% profit your alot better off and the financial strain is not as much!
Getting quotes from local builders at the moment for a high end duplex build Im doing in Cronulla.....looking at between $950 to $1.1 all inclusive with all the upgrades.
Sth Caringbah is duplex city I would stay away from there using the old supply and demand theories.
Would be good to catch up with you Shire locals for a beer and chat about this stuff.
Sth Caringbah is duplex city I would stay away from there using the old supply and demand theories.
Would be good to catch up with you Shire locals for a beer and chat about this stuff.
How big are they Rooster and what does it work out per sq?
That sounds cheap for high end, I would have expected more.
Do you know what your total costs will be for evertthing, not including original land purchase?
I really like the look of this one - http://www.realestate.com.au/property-house-nsw-caringbah+south-119762975
Good corner block, 790sqm, not sure if council would allow an exception for torrens title being just 10sqm too small.
Price is probably going to be stupid though.
Agreed! networking and exchanging ideas over a few cold ones sounds good
g.field13 how's it all going any updates?
