Selling Houses Australia

The Benefits of Dual Occupancy

Looking to get your foot in the property market? Andrew Winter gives you the lowdown on the benefits of dual occupancy for first time homeowners!

Buying a property suitable for dual occupancy can be a great way to get started as a home owner. Duplexes can be great investments. These are some of the unique set of advantages that dual occupancy can offer:

  • One of the big advantages is the option to rent one side out while you live in the other. This is particularly attractive for those just entering the market, as you can subsidise your own housing costs.
  • It can also suit those buyers looking for affordability in high demand areas.
  • It can be an ideal set up if you had an elderly parent to look after as duplexs offer flexibility you can split the purchase with family or investment partners.

While duplexes offer more privacy than apartment living, you do still share a yard and as is the case with this house, the laundry.If your duplex is your primary residence  then you may have the ability to use the potential rental income factored into the financing. It will depend on how the lender views you!

So if don’t mind  sharing your garden, it’s a great way to get started as a homeowner!

Got a question for Andrew? Ask him here.

 
 

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2 comments
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Posted by #planningReport
Dual occupancy is a way to release the equity in your home. Chances are, you own or mostly own the land. In that event your investment will be in obtaining the town planning permits and paying the building costs if you decide to go the distance. I have seen examples where the owner has obtained the planning permit and sold the backyard to become mortgage free without building.
I have shown examples of how owners have succeeded in achieving this and also the costs you may encounter.
http://subdivisionpermit.weebly.com/
Posted by #planningReport
Dual Occupancy means dual income. There are rules to follow to obtain a planning permission from your local Melbourne or for that matter Victorian council which are governed by the same new residential zones. You can learn the do's and dont's of how to obtain a painless planning permit in Victoria on my blog http://subdivisionpermit.weebly.com/

We can answer that key question- can I subdivide my house. Its a Free assessment.