There is no denying that dual income properties are an attractive investment option. They are becoming increasingly popular in areas such as the highly desirable Sydney suburbs. If you think that a dual occupancy property is the right choice for you, consider these advantages and benefits before you make the choice.
Maximum returns from one block of land - Purchasing one lot of land and building a dual occupancy property is a great way to double the returns. Whether the dual occupancy units are adjoined or detached, the extra income can still be generated. A lot of investors choose to live in one of the homes while renting out the other. This allows them to pay off the mortgage sooner. If not, they can choose to rent out both dwellings for double the income. In addition, a greater area of a large block of land will be used to the investor’s advantage.
Reduced maintenance costs – If both units are taken as a whole, and the owner is living in one of them, they will only have to deal with the full maintenance cost of their own dwelling.
The chance to build a great investment portfolio – Due to the popularity of dual income properties, there is a great selection of property types available for investors to choose. No matter what option they choose, they can make arrangements to create two attractive properties in one lot of land. This means an increased portfolio size without any of the costs associated with the purchase of two investment properties.
Great design options – As mentioned earlier, dual occupancy properties are not limited to studio apartments and granny flats attached to an average home. Nowadays, one can choose from a variety of creative double-dwelling designs that provide spacious interiors, private courtyards and outdoor living areas. Owners will not have to lose privacy for the sake of earning an extra income.
Lower price – Needless to say, dual occupancy properties are cheaper than buying two investment properties. However, in comparison to duplexes, dual occupancy properties can be purchased or constructed at an even lower cost, maximising your returns.
Lifestyle advantages – Last but not least, having a dual occupancy property is a good thing for those who wish to take care of their aging parents or other relatives. The design of these properties enable the owners to keep their relatives close without compromising on privacy.
Capital Wealth Property is your perfect partner if you are looking into purchasing or constructing a dual occupancy property. We offer several innovative design options that ensure privacy, a comfortable lifestyle and great returns. Contact us today for more information on dual income properties.