Dual occupancy housing is fast becoming an attractive option in the Sydney and greater Sydney areas, offering additional opportunities for homebuyers and investors to maximise one allotment’s earning potential.
What is Dual Occupancy Housing?
Dual occupancy housing, also known as a multi-dwelling property, is two dwellings constructed on a single plot of land. This style of home can either be attached or detached, and each dwelling comes with all of its own utilities.
There are typically three different types of dual occupancy housing options available:
- Duplexes;
- Dual occupancy; and
- Dual-key.
Why Consider Dual Occupancy Housing?
Dual occupancy builders in Sydney have seen a sharp rise in the demand for this type of housing. The massive squeeze on Sydney’s property market has greatly influenced this, coupled with a rising housing shortage, rising property prices, and a growing population.
Dual occupancy provides homebuyers with affordable alternatives. The growth in popularity for these dwellings has led to a greater choice of designs and enables first-time homebuyers to access desirable locations that would otherwise have been out of their budget range.
The Benefits for Homebuyers of Dual Occupancy Housing in Sydney:
New home builders in Sydney offer a wide range of design options so homebuyers can afford to build the home of their dreams in their ideal location and, potentially, earn a passive income.
These properties can yield significant returns on your housing investment. They include two dwellings constructed on one allotment, typically under one title deed; thereby delivering excellent options for additional cash flow. Essentially you could benefit from a regular passive income that can help finance other projects, pay off your mortgage, or supplement your current income.
Dual occupancy homes also reduce of cost of homeownership, and these dwellings are a viable and affordable option for both first time home buyers and investors. With close but independent units, you can certainly maximise your profits; you can sell or rent out both dwellings and rent one and sell one. There are numerous options available that will ensure you get the most out of your investment.
There are additional benefits to consider and that you should discuss with a professional new home builder in Sydney, including:
- Reduced maintenance costs;
- It diversifies your property portfolio;
- Earn two rental incomes if you decide to rent out both; and
- You could pay off your mortgage sooner.
So, is Dual Occupancy Housing an Option for You?
According to new home builders across NSW, the concept of dual occupancy housing is growing in popularity amongst homebuyers.
There are also significant savings to be had. To help ease the pressure on the housing market, the NSW Government has introduced the Low Rise Medium Density Housing Code. This code could see complying developments in certain designated areas getting their planning and building approval fast-tracked, potentially saving homebuyers up to $15,000.00 already.
Seek out reputable and professional dual occupancy builders and discuss your options. With the many design choices and financial opportunities to be had, investing in dual occupancy dwellings could be your solution to financial freedom.