Triplex developments require the expertise of specialist builders to achieve ultimate success. Different builders have different market segments they focus on for a reason. And when things get tight in the market, it’s not uncommon for builders to take on work outside their speciality. From a customer’s perspective, this can end up in broken promises and costly mistakes. Building developments, especially ones that involve three single or double storey homes on the one block, are complex. Thus, you want to trust your chosen builder has experience in a number of projects in the same field. Here’s why you should engage with specialist builders for a triplex development:
Creates a Design Which Maximises ROI
Specialist triplex builders will create a design which aims to maximise your return of investment. Triplex homes are fantastic for offering more affordable living options for renters and homebuyers. They create an opportunity to live in a better area for a fraction of the price. From an investor’s point of view, triplex homes can tick all the boxes when it comes to long-term strategies for short-term gains and future rental profits. But all these benefits only matter when you achieve the best return of investment.
Building three single or double storey properties on the one block with a common driveway will see your investment return maximised. Trying to do this with a builder that specialises in luxury single homes won’t craft the same successful outcome. To create maximum ROI, triplex developments needs to be built with a streamlined approach that offers homeowners and renters all the essentials in a smaller, more compact space. Engaging with specialised triplex builders who are experienced in these designs is key.
Choosing the wrong builder can come with many risks. These hazards are notorious for chewing into your budget, valuable time and desired outcome. Market knowledge, budget advice and project-specific expertise is vital to eliminating as many of these as possible. Whilst some of this is achieved through your own research, a lot of it comes down the choice of builder and their portfolio of properties with the same, or similar, briefs. By investing in a builder that has a wealth of experience with triplex developments, they’ll have a good grasp of the complexities that come with them. And this skillset is paramount to voiding costly risks.
Incorporates a Specialised Approach
Builders don’t specialise in all construction types and it takes a detailed approach to shape a successful triplex development. One that can only be achieved by the right builders. Their design and construction method must deliver on space, functionality and style to achieve the best return of investment. Because triplex developments consist of three houses on the one, usually relatively small block, it’s imperative that the builder you choose is able to deliver well-planned homes. This is key to maximising the space and as a result, return of investment.
Reduces Overall Costs
Triplex developments are a fantastic way to encourage cost savings. Stamp duty is reduced, because you only pay on the one home yet yield three properties, and the value at the end of the day is undeniable. Builder choice can drastically affect how much you pay for a new home build or development. Always do your research first and obtain at least three quotes from multiple builders that specialise in triplex developments. Local hire, quality references and financial soundness are all key factors to consider when choosing a builder to help reduce the costs.
Combines Full Block Home Comforts
Triplex developments are designed to make the most of an existing site, especially smaller blocks. Consequently, the opportunity to maximise your investment return is strong. Triplex developments are flexible and versatile because of the full block home comforts they combine.
To gain the best ROI, triplex developments must have all the home comforts that a full block property demands. And specialised triplex development builders are the only people that can cleverly combine these essentials into the limited space. This includes having a double garage, theatre room, yard space and alfresco entertaining in all three homes. Along with the two common combinations – four bedrooms and two bathrooms, or three bedrooms and two bathrooms.
Abides by Strict Residential Planning Codes
Expert triplex development builders know and understand the residential planning codes that surround the build. It’s their priority to ensure these strict codes are abided by. These types of developments are the most preferred on sites coded R30. Codes differ between council to council and determine the degree of difficulty for the design. Engaging with a specialised triplex development builder means you’re dealing with a team that have a concrete understanding of these codes. Reputable builders will liaise directly with the council to secure the planning and permission, whilst designing and constructing a build that complies with the essentials.
Engaging with the right builder for your triplex development comes with multiple benefits. These building plans are surprisingly affordable and offer the most attractive investment option due to their versatility. Whether you’re living in one of the homes and renting out the remaining two, or using all three as investment properties, it pays to find the best team for the job.
This article is written by Jayde Ferguson, who writes for Lakeshore Group – specialised triplex development builders with over 10 years’ experience, priding themselves on the highest level of customer service and attention to detail. You can catch Jayde on Google+.
Need a local builder? Compare multiple quotes from professional builders today.