Dual Occupancy – the flavour of the month

Taking a drive through the residential streets of Sydney, you would be forgiven for thinking that Dual Occupancy was the flavour of the month in the residential development world. This increasingly popular option for retirees who are downsizing, mum and dad renovators, and residential property investors has seen quite remarkable growth in popularity in many areas.

What is a Dual Occupancy property?

A dual occupancy property is when you build two or more separate properties on the same block of land.

This can also include when you build a second house next to or behind your existing home.

Essentially you have two or more homes on a single title of the land. If you plan to sell one or both of these 2 homes in the future, you will subdivide this land.

What is a Dual Occupany Sub Division?

A dual occupancy subdivision is when you build two or more dwellings on an existing single title and then subdivide the lot to create two separate titles.

This would happen if you are building a dual occupant as an investment and selling both homes or selling one and living in the other.

Location location location

When choosing to invest in a Dual Occupancy development, location plays a key role. Not only would you consider selecting a property in a favourable area, but you would also consider the restrictions imposed by the build line of neighbouring properties, local council and more.

This is why ensuring you have the support of an experienced local Town Planner or Architect is critical. The team at Corona Projects will assist you in your decision making and will be able to propose a pathway that leads to success.

They will help guide you in the key decisions needed around when you are able to to use a private certifier or when you need to apply for DA approval from the local council.

Find out more about the services we offer to Dual Occupancy Investors/Builders

Are Dual Occupancies Good Investments?

Assuming you decide to keep both properties after development, well designed dual occupancy properties with a favourable location have the potential to provide strong cash flow through two rents from one property. Duplexes can provide a better rental yield than standalone houses in the same location because you are effectively collecting double the rent, which of course is a big benefit for investors.

Over the long term, there may also be solid capital growth from holding 2 properties instead of a single one.

A dual occupancy investment is often an attractive option for individuals looking to invest in the property market. The risk is relatively low and you have solid asset base.

Many people that build dual occupancy homes choose to live in one property and rent the other out. This allows them to cover part or all of their mortgage payments with income from the second property.

To discuss further how Corona Projects can help you, please do not hesitate to contact Alex and the team for your FREE initial consultation.