What are Dual Occupancy Dwellings?
Dual Occupancy is similar to a duplex – one side has 3 beds, 2 baths and a single garage and the other has 2 beds, 2 baths and a single garage. Each side has its own entry and a separate kitchen, dining/living area and laundry. They also enjoy private alfresco areas and fenced back yards. There are two power meters, water meters, hot water systems and clothes lines.
From the street Dual Occupancy looks like a standard family home. In fact, the only give away are the twin letterboxes! This type of property has a single freehold title, so there are NO body corporate fees and only ONE set of council rates to pay.
Various councils have different names for these types of Self-Contained Dwelling such as Dual Occupancy Dwelling, Dual Key Dwellings, Auxiliary Units, Granny Flats, Associated Units, Secondary Dwellings.
Dual-Occupany offers various opportunities for buyers such as:
- First home buyers can relieve their mortgage stress by having an additional source of income from renting one of the dwellings.
- Large families requiring five bedrooms, as well as families living with aged parents or older children are able to do so with these dual living arrangements.
- Investors can achieve a higher rental yield with the two rental incomes, along with the low outgoings, which these dual-living products offer.
Benefits for Investors:
- Two sets of rental income producing a higher yield, which should ultimately make this a cash-flow positive investment;
- Lower risk associated with vacancy periods as there is a secondary rental income;
- No strata fees, as the dwellings remain on the same lot/title.
- One set of council rates and water rates, as opposed to strata titled dwellings.
- Market rents for each dwelling are more affordable to rent than a typical 4 bedroom investment property, which increases the demand for this type of property.
We have hundreds of plans available to suite your budget or let our draftspersons create a unique plan just for you!
If there is anything else we can be of assistance with please don't hesitate to contact me directly on the number / email provided.
We hope we can assist you with your New Home Purchase and look forward to hearing from you soon.