Dual occupancy homes are an excellent property investing opportunity. A dual occupancy, as the name suggests, offers two livable spaces under one main roof. Needless to say, with the additional cost to create the second livable space being so much cheaper than creating an entirely separate second home, investors will be making great cost savings and excellent returns on rental yield.
In some ways a dual occupancy property is similar to a duplex as they are two homes on a single block. The main difference between the two is that in many cases dual occupancies don’t allow for subdivisions and separate titles. In comparison to duplexes, dual occupancy homes have a lower price point. Dual occupancy properties are among the development sites gaining a great deal of popularity among property investors. They are affordable, flexible and regardless of their design, allow for two separate leases.
One of the main benefits of a dual occupancy property is that they allow the benefits of a typical duplex property without the traditionally high costs. These properties appear to be a single home from the outside but according to their design, they may have a single entrance, separate entrances while the property has a single freehold title. This means that the owner only has to pay one set of council rates and does not have to deal with body corporate fees. Dual occupancy property investors can expect up to 5+% yields from owning and renting.
If you are a dual occupancy property owner, you do not need a second title which will add to your taxes. Even if you are building in a great neighborhood with strict aesthetic standards, they can be built without damaging the overall appearance of the neighborhood. You can choose whatever frontage you like and to add whatever features you desire. You can even build your property to be transformed into a single home later on.
Here, at Capital Wealth Property, we believe that double income properties will become the Australian standard for high-quality yield property investments.If you are interested in creating a dual income property, contact us at Capital Wealth Property to discuss your possibilities of investing in a dual occupancy property. Call us today!