Dual occupancy homes are great for the modern family that wants the option of self-contained accommodation or a property investment. You can now have two households in one, whether for an aging parent, grandparents, child, or friend. Whether you aim to buy within a budget and add some extra space, provide for your loved ones, give them the convenience of independent living in their dual occupancy home, or gain some extra income, it will be a wise purchase. Building on all requirements of the modern Australian way of life for you and your extended family, Pillar Build Group Homes Builders offers buildings in New South Wales, Sydney.
Dual occupancies are basically two separate houses built on a single plot of land that cannot be divided. This simply means the two houses share one property and belong to one owner. There are two different types of dual occupancies: attached and detached.
In most dual-occupancy complexes, the individual homes share common areas like parking lots and driveway access.
A GRANNY FLAT VS DUAL OCCUPANCY Homes
Now that you are familiar with dual-occupancy homes let’s examine a granny flat and how it differs.
A granny flat is a separate dwelling or apartment constructed on an existing property. The secondary self-contained dwelling is part of the same stand and may be either attached or detached from the main property.
Most granny flats include a bedroom, kitchenette, dining and living area, bathroom, and laundry room. Designs for one, two, and even three-bedroom granny flats are available. Some designs may include other buildings, like a porch or a garage.
Benefits of a Granny Flat
Granny flats are an inexpensive housing option for older adults who want to live independently yet remain near their growing family. Many tenants looking for apartments with character are increasingly turning toward granny flats as a more viable, likable alternative, especially given the ongoing rental crisis across Australia’s major cities. This also shows an additional revenue stream for homeowners with excess backyard space.
Furthermore, purchasing and Building a granny flat behind your principal dwelling is typically less expensive than buying a brand-new property if you’re eager to start investing in real estate. This means that you might begin your real estate journey without obtaining debt.
Is it possible to partition a dual occupancy?
Subdivision of two occupied spaces involves careful thought processes. However, a dual occupancy home designer can simplify it. Pillar Build Group is experienced in determining whether your house is suitable for sub-division, understanding zoning laws, and completing all required processes. With our assistance, you can verify that the dual occupancy home design meets your requirements and local rules. We help you manage the complications of dual occupancies with local councils. Subdivision of dual occupancy in Sydney might not be easy. However, with professional advice and the right guidance, it is a sound financial move.
Can dual occupancy homes be sold separately?
In Sydney, there are two possible approaches to marketing and selling dual occupancy homes: selling them jointly or separately. Dual occupancies homes are viable for sale as distinct units, even with the applicable restrictions.
In particular, dual occupancy homes are subject to municipal regulations. Property listings must carry a certificate for dual occupancy permission. Dual occupancy homes represent two independent homes on a single title deed. This is an excellent investment for buyers looking to generate two income streams from their purchase. Requirements standardized by the local council should be factored in to satisfy local laws and regulations. Dual occupancy home design offers a variety of benefits. These range from increasing potential rental income for the investor to offering privacy and comfort for the occupant. These properties will become more in demand as Sydney’s economy expands. This contributes to its rapid population growth. Therefore, they are the perfect alternative for anyone seeking a low-cost home in Australia’s largest city.
Important Tips
Regarding real estate investing, there is nothing like a one size fits all approach. Making the right choice depends on how well your plan aligns with your financial goals and needs. You may even want to renovate your dual home residences in the future and turn them into single, two, or three-bedroom properties to increase their value. Real estate investing is not anyone’s one-man job. You should consider getting professional advice on all matters relating to purchasing an investment property.
It’s quite important to seek professional advice on all matters concerning the dual occupancy home of an investment property. Allow Pillar Build Group to offer you professional services for renovation and building projects to improve your property’s value and align it with your goals.
