Knowing the benefits of investing in dual property investment will be useless if you do not know the basics of a dual occupancy home design. So what is a dual occupancy home design? A dual occupancy development can also be known as a ‘multi-dwelling’, ‘duplex’ or ‘side-by-side development’. You will find there are a range of layout options available, either two attached dwellings sitting side by side (both with a street frontage), or one behind the other (with a driveway down one side to the rear property). When should you consider a dual occupancy design? Before deciding to build or to buy a dual occupancy houses, it is essential to consider some factors. If you experience these factors, it is probably best for you to start investing in a dual occupancy houses.
Knock-down and rebuild two new dwellings
- You have a large block in an area where land prices are increasing
- You want to remain in your current area, but don’t need as big a house
- You want to unlock some of the equity in your land
Build a new dwelling behind an existing dwelling
- You have a block that has a large vacant space behind or beside it
- Your current house is still adequate
- You want to unlock some of the equity in your land
Build two new dwellings on a vacant block of land in a greenfield estate
- This is less common because the value of the land is often more affordable and therefore the cost of building the second dwelling cannot be justified
- This could be attractive if you have family/aging parents that need to be close by