Dual Occ Homes
Dual occupancy homes provide a unique investment opportunity where it is possible to rent one side of the house out while living in the other.
A dual occupancy development consists of two dwellings built on one block of land. These homes may be either attached to each other like a duplex or constructed as separate dwellings.
Dual key living may be another way of achieving a dual occupancy home. A dual key home is a home where the occupants can have separate secure access, without the need for duplex construction. The home is just like a normal property, but it might consist of the main home with all the normal rooms, with separated locked access to a studio apartment within.
However you go about it, the aim is to achieve two income-producing properties on one site. It may even be possible under some circumstances to achieve dual living without requiring two titles. Adequate parking and compliance with council regulations is an important consideration in any such project.
Dual Occupancy home designs appeal to two demographics in particular. One is the student market, the other is the aging population. Even young urban professionals may be attracted to the dual living concept in all its forms.
Dual occupancy homes can be cash flow positive and have the potential of providing a higher return on investment. (ROI) Dual occupancy homes allow you to build wealth faster, have multiple income streams, and lower costs.
Questions we get asked
what is dual occupancy?
As an investor, you could rent both sides out to maximise your return on investment. An owner occupier could live in one side and rent out the other so that your tenants help you to pay the mortgage. Your teenagers or a student border may not be quite ready to move out on their own, so this is a perfect opportunity to keep them close while providing the freedom to come and go unnoticed. If the time has come to give something back to your parents, then this is the perfect opportunity to provide for their needs.
What is a dual occupancy property?
Dual Occupancy is known as shared living, with two separate dual living homes. Each home will ordinarily have a dedicated entrance, amenities and yard. The critical difference between a dual occupancy and a duplex is land title flexibility and the associated costs
What is the difference between dual occupancy and secondary dwelling?
So a secondary dwelling is typically a smaller property. A dual occupancy though is typically larger and even as large or larger than the existing dwelling. It can be attached so you can join these either with a carport together or they can be detached.
Is it cheaper to build a duplex than two houses?
Building another house on an adjoining lot could do many of the same things, but building two houses is much more expensive than building a duplex. … Because they have two kitchens and living areas, they are more costly to build than a single-family home of the same size, but not by that much.
