InMelbourne, dual occupancy builders have been characterised with two strata dwellings in a single block with a high-intensity arrangement with a luring option for owners, investors and a wide rental demographic. The mutual protip of dual occupancy can be manifold with typical access of investors that can be optimised on ROI with two streams of income with no additional costs of separate rates and fees that are associated with the independence of land titles.
With the specification shifts elevated with the popularity of these buildings and as more Australians have moved into to remain in an urbanised middle-range area that requires closer contact with inter-generational family members. More numbers of Aussies are now discovering the mutual benefits of owning and living in dual accommodation.
More popularly known as duplexes, multi-family or many generational houses, they can be popularised in capital cities such as Melbourne and Sydney in numerous forms of granny-flats, multi-units or even dual-key developments as investors and developers that can continue with cash-flow and having two-set of dwellings set on with one land title, with potential higher fields than many blocks containing one strata building.
Types of dual occupancy
Dual occupancy is either attached with duplex or is constructed as separated dwellings. The property has the potential for rental income, with their specific differences and affected investors.
Granny flats have been typically the size of a tiny apartment and are located in the neighbourhood of the yard. It requires approval before building and is allowed with the acceptance of the tenants with the property. With duplexes with two different properties that have been adjourned or share common walls, where the house divides into two separate areas and they can be sold separately.
A dual key is a type of property with a shared front entrance door and they are potentially additional in the living space with kitchen and living room. A sectional property is locked and rented out with a separate tenant.
Dual occupancy home designs have an appeal especially to demographics like students and young professionals and the senior population who also need for security with the presence of young family members. The dual attractive for investors depends on where the property is located and how it potentially increases the per capita income over property cycles. Investors have leased on both the sides out in maximising the ROI. An owner-occupier could live on one side and rent out to the other where the tenants contribute to a mortgage.
Benefits for the investors
Dual occupancy makes the investors understand the knowledge for the old build and in creating two buildings for the site rather than spending more remodelling the older dwelling. Plus, with one building experience and team working on the project. There should be tax benefits and dual savings where the investors have to typically just pay what they are required upon the land. Apart from traditional single dwelling homes, dual occupancy requires additional custom designs and construction consideration with pre-approval requisites.
Homes in dual occupancy, duplex or even multi-unit properties require sufficient noise insulation, privacy and comfort capabilities like extra ensuites, bathrooms, storage and even living spaces. The sites when considering dual occupancy are the ones in quiet suburban streets for striking the range of infrastructure and amenities that have to be proven for the buyers who want to live in dual occupancy dwellings like towns with high walk scores, that are closer to train stations, schools and tertiary educational institutions.
Getting in touch with premium builders who specialise in dual occupancy
Some builders specialise in multi-unit developments and townhouses with LBD homes. Looking with benefits for dual occupancy and the builders who can help you get started.