Is A Duplex Home Design Suited For Dual Occupancy?

Buying a property suitable for dual occupancy can be extremely beneficial. For investors, they provide two rental incomes from a single asset. For regular buyers, they are an affordable housing solution and accommodate for multi-generational living.

What Is A Duplex Home Design?

A duplex is a single residential building that contains two homes separated by a common central wall. Both dwellings are completely separate entities containing their own entrances and amenities. Each home typically has its own driveway, garden, backyard, bedrooms, kitchen, bathroom and everything else you’d expect to find in a detached house. Duplexes come in a variety of configurations and designs. As most duplex homes are a double-storey, they contain larger and more spacious dwellings as opposed to other dual occupancy alternatives. Each individual home has its own postal address and can be owned and sold separately.

Advantages Of A Duplex Home Design

1. Affordability

Duplexes offer an affordable housing solution for many Australians. They are cheaper than buying an ordinary house and provide potential buyers with the opportunity to own property in sought-after areas without breaking the bank. By purchasing a duplex, you are essentially buying two homes for the price of one. By owning a single block of land with two homes, the total price of owning two income-producing properties is significantly reduced. Duplexes are perfect for first-home buyers, retirees, downsizers or anyone wanting a low-maintenance lifestyle with a relatively moderate budget.

2. Rental Returns

Owning a pair of duplexes allows you to control your rental income. You have the option to rent out both dwellings and receive two incomes or live in one while you rent out the other. The additional income you earn can help to prevent financial strain and contribute towards your mortgage. Fancy being a landlord? Renting out the other side of your duplex provides you with the opportunity to customise a lease, collect rent and screen potential tenants. Plus, living next door to your rental property enables you to check for any repairs and ensure your tenants behave appropriately.

3. Multi-Generational Living

Generational shifts have changed the way Australians live, with dual occupancy homes now in high demand. When you invest in a dual living home such as a duplex, you are investing in the future of your family. Our duplex home designs offer independent, self-contained accommodation suitable for dual occupancy and multi-generational living. They are light-filled, stylish and welcoming, crafted specifically for the needs of the multi-generational family. Duplexes provide the perfect space for grown children, ageing parents or extended family. For those elderly family members requiring additional care, it enables you to check in with ease, giving you peace of mind knowing they are supported, while still upholding privacy without “living in each other’s pockets.”

4. Low Maintenance

Simply put, owning a single dwelling in a duplex requires significantly less maintenance. Half a block of land requires half the maintenance of a full block, meaning less time mowing lawn and more time spent with family and friends.

5. Security

Another benefit of living in a duplex is security. You get the security benefits of having a close neighbour without getting in each other’s way. This can be extremely beneficial for the elderly or vulnerable members of the community, who require extra care and attention.
Dual Keys might be a great, cash-flow positive, addition to your portfolio, to help you grow your income and keep your portfolio in balance. If you need more information, call us today!

source: meridianhomes