Can You Sell Dual Occupancy?

melbourne dual occupancy homes
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    When most people think of a property developer, the image of a wealthy individual with significant financial means that pops into their head is probably the first thing that comes to mind. In spite of this, getting started in the world of real estate investment is a lot less difficult than you would at first assume it would be.

    You are the owner of a huge plot of property, and you have been giving considerable consideration as to what you ought to do with it.

    It's possible that you want to stay in the same location but don't need a large house, that you have a lot of unused space behind or next to your current house, or that you want to release some of the equity in your land. Any of these are good reasons to consider building a new home on your property. You have come to the conclusion that adding on could be the most appropriate course of action after conducting some research into the numerous possibilities that are accessible to you and determining how to perform the work in the most time- and money-efficient manner.

    In today's real estate market, which is more complicated than in years past, many investors are looking for investment techniques that will enable them to develop their portfolios in the most savvy manner conceivable.

    And one of those methods is by constructing buildings that are suitable for use by more than one family at a time, which are more often known as "dual occs."

    They are of the opinion that an expansion of your home to a larger size will result in an improvement in your level of financial success. However, does that make sense as an explanation for what happened? In today's session, we're going to take you step-by-step through one of the ever-more-popular investing techniques that people in Australia are growing to appreciate. This approach to financial management is called the "dollar cost averaging" method.

    Dual Occupancy Properties are a one-of-a-kind type of property in which the same parcel of land is registered under two different titles. These properties have the ability to accommodate two households simultaneously. On the other side, there have been two houses constructed on the land since it was first purchased. You have the option of attaching them or removing them from the frame. Some examples of properties that are used for both residential and commercial purposes are as follows:

    • The house has a total of five bedrooms and three bathrooms, but it is possible to securely divide it so that one portion of the house includes three bedrooms, two bathrooms, the kitchen, and the living areas. The remaining two bedrooms and both of the living areas are located on the opposite wing of the house. In addition, there are two bedrooms, a kitchenette, and one bathroom on the opposite side of the property. This side of the house is where the kitchenette is located. Despite the fact that they share a similar roofline, the two "parts" of the structure are nevertheless capable of operating independently of one another.
    • A granny apartment is built adjacent to the main home and has a studio-style living arrangement along with a kitchenette and a bathroom. Additionally, the granny apartment also includes its own private entrance. Living quarters that are separated from one another by walls, but which are nonetheless related to the main home by means of an extension or are located immediately off it. You've come to the correct spot if you're searching for a cheap builder in Melbourne that doesn't skimp on quality. Look into the MJS Construction Group!
    • A home that has an attached sleepout or carport can only be accessed through the primary living space of the home. The carport or sleepout space, whichever you like to call it, has been remodelled to include a kitchenette, bathroom, bedroom, and living area.

    house duplex melbourne

    These sorts of living arrangements provide investors with freedom and flexibility, while simultaneously maximising the potential profits that may be received from property prices. In other words, investors benefit from the best of both worlds.

    You can choose to live there while simultaneously renting out the second property in order to bring in additional cash that can go towards the payment of the mortgage. They are ideal for use as investments and may serve the needs of two separate tenants within the same structure, resulting in the generation of two separate sources of money (often highly profitable). They can be ideal for families with older children since they provide the elder children in the family some degree of independence and separation from the younger members of the family.

    The Economic Advantage

    One of the forms of real estate development that is regarded as being among the most financially viable is known as dual occupancy development. This is for a number of different reasons. To begin, if you have dual occupancy, you have the option of constructing additional structures on land that you now own and manage. This is something that you may do if you have dual occupancy. If the regulations of your local council allow it (see point 2 below), and if your block is big enough, you could partition your property and build another home on it that is completely separate from the first one. This is, of course, predicated on the fact that the block in question is sufficiently large.

    Then, depending on how you want to direct the rest of your life, you have the options to: rent out the new property; upgrade by moving into the new location yourself and renting out your old house; or sell one of the houses and put the proceeds towards your retirement or some other long-term financial goal.

    If you appreciate where you live but are finding that you are unable to manage the upkeep on your existing dwelling now that you are getting closer to retirement, taking into consideration the possibility of moving into a home with a roommate or roommates is another wonderful option. You will be in a position to afford to live in a brand new home with the profit from the sale of or rent from the lease of the other home if you choose to build a dual occupancy property rather than tearing down your current home and building a new one in its place. This is because you will be able to use the money you make from the sale or lease of the other home to pay for your brand new home. This takes us to the second financial advantage that comes with creating a property that is suitable for both residential and commercial use.

    Two For The Price Of One

    Second, if you have recently acquired a piece of land, you should give careful consideration to the prospect of erecting a brand-new building on the site that is designed to accommodate multiple households simultaneously, such as a duplex. Because the buyer of a duplex may essentially receive two dwellings for the price of one, owning a duplex is a more cost-effective alternative to purchasing a single huge piece of real estate. You have a number of options accessible to you, including selling or renting the property; the choice is completely up to you at this point.

    You should not let the size of the block discourage you from building a dual occupancy dwelling such as a duplex. This is true regardless of whether you are considering a knockdown rebuild or if you have acquired an empty block. It doesn't matter if you have a sloping block, a block that is narrow, or a block that is in the corner of the street; a respectable builder like Valley Homes will have a selection of floor designs for both single-family homes and duplexes that you can choose from. For instance, when it comes to duplexes, if you have a significant amount of street frontage, a design like the Myall makes the most of the available space and maximises the amount of privacy you have, with the only shared wall being the one that separates the garages. This allows you to make the most of the available space and the amount of space you have available to you.

    Alternately, if you are searching for a house with two floors, the Baybreeze is a great option to consider since it provides a lot of space for a family by situating the living spaces on the ground floor and the bedrooms on the top level. These are just two examples of the numerous different floor plans for duplexes that are available from Valley Homes.

    In addition, you always have the option of picking a bespoke design for your dual occupancy, which enables you to develop dwellings that have all of the amenities you desire. This gives you a lot of creative leeway when it comes to designing your home.

    Tax Incentives

    The tax benefits of dual occupancy depend on whether the second house is sold or rented out as a rental property. If the second home is sold, the tax benefits cannot be claimed.

    Sellers: If you sell your existing house, build a new home on land you already own, and then move into the new home, you can avoid paying both the goods and services tax (GST) as well as the capital gains tax on the profit you get from the sale of your old home. The ATO is a fantastic location to turn to if you are interested in learning more about this option and would want to do so.

    Renting: Deciding to become a landlord and renting out the second property provides extra financial benefits in the form of tax credits offered by negative gearing. Renting out the second house also provides additional opportunities to build equity in both properties. In a word, negative gearing happens when the return on an asset that provides income, such as a new house, is less than the amount borrowed to invest in the asset. An example of this would be if the return was less than the amount that was borrowed to buy the property. One scenario in which this can occur is one in which the return on investment is lower than the amount that was borrowed. Again, if you aren't aware with any of this, your best chance is to start with the ATO to grasp the foundations of the tax benefits and downsides that come along with owning a residential investment property. This is your best bet if you don't know anything about any of this.

    is a two story house cheaper to build? melbourne

    What Factors To Consider For Dual Occupancy

    The construction of structures that can accommodate two distinct groups of tenants at the same time is a potentially lucrative business opportunity when all other conditions are normal.

    Knockdown an existing property and rebuild two new dwellings could be an option if:

    • You are fortunate enough to own a sizeable piece of land in an area where it is anticipated that the price of land will continue to go up.
    • You've reached a point in your life when you no longer require a huge house, but you still want to keep living in the same general region. When the children have reached an adult age and moved out of the family home, this scenario may play out.
    • You have made the decision to convert some of the equity in your home into liquid assets.

    Building a new residence behind an existing residence could be an option if:

    • There is vacant land available on your street, either in the form of a backyard or a spot off to the side.
    • On this street, the house that you currently own offers sufficient space and amenities for your family to lead a happy and healthy life there.
    • You have amassed a sizeable amount of equity in your house, and you would now like to take some of that wealth out in the form of cash.

    Build two new residences on a greenfield residential block could be an option if:

    • You have elderly family members, such your parents, who want to live close by but not in the same house as you do. They have expressed this desire to you.
    • Due to the significant value of the property, it would be reasonable to build not just one but two houses on it. There are greenfield estates that only allow the construction of single-family dwellings because they contain regulations that forbid the development of multi-family homes. After the construction of your dual occupancy house, you have many options.

    If you decide to build a dual occupancy home, there are a range of options available:

    • If you put the two houses on different titles, you will be able to sell one of them while still retaining the other as your principal residence. This is because you will have the ability to sell one title without affecting the other.
    • By living in one of the properties while renting out the other, you might potentially create a new source of income for yourself. This might be especially helpful in areas with a limited supply of rental homes and with rents that are somewhat high in such areas.
    • You have the choice to sell either one or both of the houses.

    This suggests that a considerable amount of equity has been built up in the property that a lot of people's homes are situated on as a result of the fact that land prices have risen at a rate that has outpaced the rate at which the value of houses has increased over the past few years. Through the usage of a property that accommodates two households at once, you may be able to free up some of the equity that you have amassed over the years for your own personal use. Do you have plans to construct a house? Your construction project will come to life with the help of MJS Construction Group.

    The Good and Bad of Dual Occupancy Properties

    As a consequence of the landlord just having to pay one set of council taxes for both buildings, the landlord is able to charge a reduced rent to the tenants. In addition, the landlord just needs to pay one set of maintenance charges for both properties instead of paying two separate sets.

    Investors who are working on a strategy to produce positive cash flow from their assets may find it advantageous to take advantage of the potentially enormous revenue that can be made through dual occupancy of a property. However, before they make any judgments, investors need to be aware of a possible disadvantage in the situation.

    It is possible that dual occupancy buildings will provide difficulties for bank evaluations due to the fact that these types of buildings are not especially common at this level. The value of the property is derived not only from the worth of the building but also from the value of the surrounding land. Therefore, even if there is a high perceived worth (two independent streams of income, two separate properties), valuers do not take this into consideration even when there is a high perceived worth. For the sake of illustration, the property with the five bedrooms and three bathrooms that we talked about previously would be valued in exactly the same way as described above. In point of fact, it is designed to be two distinct homes: one with three bedrooms and two bathrooms, and the other with two bedrooms and one bathroom, the latter of which is expected to have a higher market value.

    Contractors typically construct new homes intended for dual occupancy as two separate dwellings. Each of these dwellings has its own set of utilities, such as an electric metre, a water metre, and a system for heating water for showering and washing dishes. Because of this, the building procedure will take significantly more time and require a greater amount of money.

    As a consequence of this mismatch, in order to acquire financing, it may be necessary to pay a larger deposit or more equity than was first anticipated. This may be the case if the amount of equity required is more than the deposit.

    However, if an investor is able to afford it, this higher spending is likely to be recouped over the years of ownership by the form of better cash flow. This, of course, is presuming that an investor is able to afford it in the first place. We may be able to anticipate that by the time they sell the property, the true worth of properties with dual occupancy will have been acknowledged all across the market, and that they will be able to get a sale price that takes this into account. If this is the case, we may be able to anticipate that they will be able to sell the property for a price that takes this into account.

    Why a Dual Occupancy Project?

    For a variety of reasons, those who are interested in making an investment in real estate should give some thought to acquiring a piece of property in the form of a development like this one.

    To begin, if you already own a significant quantity of land that can be subdivided into smaller parcels, you are already in a better position than the other competitors. You may, for instance, be the proud owner of a sizeable family house that's situated on a sizeable piece of land. It seems to be in a state of deterioration and might use some TLC from someone who cares about it. Or, you may already have an investment property in your portfolio; however, the returns you receive from the rental yield may be modest, and you may be dependent on the property's appreciation in value. If this is the case, you should consider selling the property and investing the proceeds in another investment property. This word refers to the profits made by investing one's money.

    Obtaining funds needs a patient approach, which can be challenging given the erratic nature of the real estate market and the fact that this approach does not necessarily result in a profit. On the other hand, having a property that is used for both residential and commercial purposes has the potential to bring in a sizeable amount of additional revenue.

    Imagine for a moment that you are interested in constructing a pair of duplex residences by way of a standard dual occupancy. What action would you take? This suggests that they are positioned next to one another or that they are located one behind the other and share a wall. Alternatively, it might also mean that they are next to one another.

    When the construction of the properties is complete, you will have a variety of possibilities from which to select one. You may use one of the houses as your main residence while keeping the other one rented out to tenants. There are some persons that use both of them as rental properties. You also have the choice of selling both of them simultaneously. Regardless of the option you choose, you should have reasonable expectations of a solid return on your investment.

    In order to acquire a property in a more costly neighbourhood that they otherwise could not manage on their own, some people would even enlist the help of their family or closest friends in order to pool their resources. They begin by acquiring a dilapidated house in the suburb where they intend to eventually make their home. Next, they destroy the structure and build a new house on the same plot of ground as the old one, but this one is designed to accommodate two people.

    How Do You Choose The Best Dual Occupancy Sites?

    For a variety of reasons, those who are interested in making an investment in real estate should give some thought to acquiring a piece of property in the form of a development like this one.

    To begin, if you already own a significant quantity of land that can be subdivided into smaller parcels, you are already in a better position than the other competitors. You may, for instance, be the proud owner of a sizeable family house that's situated on a sizeable piece of land. It seems to be in a state of deterioration and might use some TLC from someone who cares about it. Or, you may already have an investment property in your portfolio; however, the returns you receive from the rental yield may be modest, and you may be dependent on the property's appreciation in value. If this is the case, you should consider selling the property and investing the proceeds in another investment property. This word refers to the profits made by investing one's money.

    Obtaining funds needs a patient approach, which can be challenging given the erratic nature of the real estate market and the fact that this approach does not necessarily result in a profit. On the other hand, having a property that is used for both residential and commercial purposes has the potential to bring in a sizeable amount of additional revenue.

    Imagine for a moment that you are interested in constructing a pair of duplex residences by way of a standard dual occupancy. What action would you take? This suggests that they are positioned next to one another or that they are located one behind the other and share a wall. Alternatively, it might also mean that they are next to one another.

    It is best practise to analyse sites close to infrastructure and facilities, as well as the kinds of purchasers that want to live in these kinds of homes, before making a purchase decision. This is something that ought to be taken into consideration so long as the zoning in the area allows for developments with a dual occupancy.

    Of course, in order for a building with a mixed-use occupancy to be approved, the land on which it is to be constructed will also need to have an adequate footprint, and the minimum land area required for such a structure may vary depending on its location.

    You are needed to finish a comprehensive feasibility study first in order to move on to the following phase, which is signing a contract of sale. After that, you may move on to the next step.

    You don't want to end up with a site that is incapable of supporting the building of a home that can accommodate both owner-occupants and renters, do you?

    It is possible to make the most money off of real estate by acquiring a corner block, which is especially true if the block in question is zoned for development. This is one scenario in which owning a corner block may help you make the most money.

    This is because corner lots have access to two streets and, as a result, have more construction options. This, in addition to the fact that corner lots offer additional building possibilities, may significantly boost the property's appeal and value.

    On a corner lot, for instance, you might have an old house that you intend to demolish in the future, but in the meantime, you keep it rented out so that you can get the necessary approvals to build a home that can accommodate two families at the same time. Alternatively, you might have a home that is too small to accommodate two families at once.

    You will be able to drastically cut down on the costs associated with keeping the item in this manner, allowing you to do so while all of the essential paperwork and procedures are being finalised.

    Profit Potential

    Dual occupancy buildings that are both well-designed and well-located have the potential to deliver great cash flow. This is due to the fact that dual occupancy homes receive rent from two independent tenants at the same time.

    Additionally, making an investment in the properties with the intention of keeping them for an extended period of time might result in significant capital growth due to the presence of two properties on the same site rather than just one. This would be the case if the properties were held for an extended period of time. You may make an educated selection regarding your treatment by consulting the following list of builder services offered in Melbourne.

    If you want to make sure that your plans for investments have a chance of materialising into profitable reality, it is absolutely necessary for you to obtain the counsel and direction of a professional before moving forwards with any kind of property development. This is the only way to guarantee that your plans will be successful.

    If you are interested in developing a property that can accommodate both residential and commercial tenants, please get in contact with us as soon as you can.

    Content Summary

    • In spite of this, getting started in the world of real estate investment is a lot less difficult than you would at first assume it would be.
    • Any of these are good reasons to consider building a new home on your property.
    • In today's real estate market, which is more complicated than in years past, many investors are looking for investment techniques that will enable them to develop their portfolios in the most savvy manner conceivable.
    • And one of those methods is by constructing buildings that are suitable for use by more than one family at a time, which are more often known as "dual occs.
    • "They are of the opinion that an expansion of your home to a larger size will result in an improvement in your level of financial success.
    • In today's session, we're going to take you step-by-step through one of the ever-more-popular investing techniques that people in Australia are growing to appreciate.
    • This approach to financial management is called the "dollar cost averaging" method.
    • Dual Occupancy Properties are a one-of-a-kind type of property in which the same parcel of land is registered under two different titles.
    • The house has a total of five bedrooms and three bathrooms, but it is possible to securely divide it so that one portion of the house includes three bedrooms, two bathrooms, the kitchen, and the living areas.
    • The remaining two bedrooms and both of the living areas are located on the opposite wing of the house.
    • In addition, there are two bedrooms, a kitchenette, and one bathroom on the opposite side of the property.
    • A granny apartment is built adjacent to the main home and has a studio-style living arrangement along with a kitchenette and a bathroom.
    • Living quarters that are separated from one another by walls, but which are nonetheless related to the main home by means of an extension or are located immediately off it.
    • You've come to the correct spot if you're searching for a cheap builder in Melbourne that doesn't skimp on quality.
    • Look into the MJS Construction Group!A home that has an attached sleepout or carport can only be accessed through the primary living space of the home.
    • The carport or sleepout space, whichever you like to call it, has been remodelled to include a kitchenette, bathroom, bedroom, and living area.
    • These sorts of living arrangements provide investors with freedom and flexibility, while simultaneously maximising the potential profits that may be received from property prices.
    • You can choose to live there while simultaneously renting out the second property in order to bring in additional cash that can go towards the payment of the mortgage.
    • They are ideal for use as investments and may serve the needs of two separate tenants within the same structure, resulting in the generation of two separate sources of money (often highly profitable).
    • The Economic Advantage
    • One of the forms of real estate development that is regarded as being among the most financially viable is known as dual occupancy development.
    • To begin, if you have dual occupancy, you have the option of constructing additional structures on land that you now own and manage.
    • This is something that you may do if you have dual occupancy.
    • Then, depending on how you want to direct the rest of your life, you have the options to: rent out the new property; upgrade by moving into the new location yourself and renting out your old house; or sell one of the houses and put the proceeds towards your retirement or some other long-term financial goal.
    • If you appreciate where you live but are finding that you are unable to manage the upkeep on your existing dwelling now that you are getting closer to retirement, taking into consideration the possibility of moving into a home with a roommate or roommates is another wonderful option.
    • You will be in a position to afford to live in a brand new home with the profit from the sale of or rent from the lease of the other home if you choose to build a dual occupancy property rather than tearing down your current home and building a new one in its place.
    • This is because you will be able to use the money you make from the sale or lease of the other home to pay for your brand new home.
    • This takes us to the second financial advantage that comes with creating a property that is suitable for both residential and commercial use.
    • Second, if you have recently acquired a piece of land, you should give careful consideration to the prospect of erecting a brand-new building on the site that is designed to accommodate multiple households simultaneously, such as a duplex.
    • You should not let the size of the block discourage you from building a dual occupancy dwelling such as a duplex.
    • This allows you to make the most of the available space and the amount of space you have available to you.
    • This gives you a lot of creative leeway when it comes to designing your home.
    • Tax IncentivesThe tax benefits of dual occupancy depend on whether the second house is sold or rented out as a rental property.
    • Sellers: If you sell your existing house, build a new home on land you already own, and then move into the new home, you can avoid paying both the goods and services tax (GST) as well as the capital gains tax on the profit you get from the sale of your old home.
    • The ATO is a fantastic location to turn to if you are interested in learning more about this option and would want to do so.
    • Renting: Deciding to become a landlord and renting out the second property provides extra financial benefits in the form of tax credits offered by negative gearing.
    • Renting out the second house also provides additional opportunities to build equity in both properties.
    • In a word, negative gearing happens when the return on an asset that provides income, such as a new house, is less than the amount borrowed to invest in the asset.
    • Again, if you aren't aware with any of this, your best chance is to start with the ATO to grasp the foundations of the tax benefits and downsides that come along with owning a residential investment property.
    • This is your best bet if you don't know anything about any of this.
    • You have made the decision to convert some of the equity in your home into liquid assets.
    • Build two new residences on a greenfield residential block could be an option if: You have elderly family members, such your parents, who want to live close by but not in the same house as you do.
    • After the construction of your dual occupancy house, you have many options.
    • If you decide to build a dual occupancy home, there are a range of options available:If you put the two houses on different titles, you will be able to sell one of them while still retaining the other as your principal residence.
    • By living in one of the properties while renting out the other, you might potentially create a new source of income for yourself.
    • You have the choice to sell either one or both of the houses.
    • Through the usage of a property that accommodates two households at once, you may be able to free up some of the equity that you have amassed over the years for your own personal use.
    • Do you have plans to construct a house?
    • The Good and Bad of Dual Occupancy PropertiesAs a consequence of the landlord just having to pay one set of council taxes for both buildings, the landlord is able to charge a reduced rent to the tenants.
    • Investors who are working on a strategy to produce positive cash flow from their assets may find it advantageous to take advantage of the potentially enormous revenue that can be made through dual occupancy of a property.
    • However, before they make any judgments, investors need to be aware of a possible disadvantage in the situation.
    • It is possible that dual occupancy buildings will provide difficulties for bank evaluations due to the fact that these types of buildings are not especially common at this level.
    • The value of the property is derived not only from the worth of the building but also from the value of the surrounding land.
    • In point of fact, it is designed to be two distinct homes: one with three bedrooms and two bathrooms, and the other with two bedrooms and one bathroom, the latter of which is expected to have a higher market value.
    • Contractors typically construct new homes intended for dual occupancy as two separate dwellings.
    • This may be the case if the amount of equity required is more than the deposit.
    • We may be able to anticipate that by the time they sell the property, the true worth of properties with dual occupancy will have been acknowledged all across the market, and that they will be able to get a sale price that takes this into account.
    • Why a Dual Occupancy Project?For a variety of reasons, those who are interested in making an investment in real estate should give some thought to acquiring a piece of property in the form of a development like this one.
    • If this is the case, you should consider selling the property and investing the proceeds in another investment property.
    • On the other hand, having a property that is used for both residential and commercial purposes has the potential to bring in a sizeable amount of additional revenue.
    • Imagine for a moment that you are interested in constructing a pair of duplex residences by way of a standard dual occupancy.
    • When the construction of the properties is complete, you will have a variety of possibilities from which to select one.
    • You may use one of the houses as your main residence while keeping the other one rented out to tenants.
    • There are some persons that use both of them as rental properties.
    • You also have the choice of selling both of them simultaneously.
    • Regardless of the option you choose, you should have reasonable expectations of a solid return on your investment.
    • In order to acquire a property in a more costly neighbourhood that they otherwise could not manage on their own, some people would even enlist the help of their family or closest friends in order to pool their resources.
    • How Do You Choose The Best Dual Occupancy Sites?For a variety of reasons, those who are interested in making an investment in real estate should give some thought to acquiring a piece of property in the form of a development like this one.
    • To begin, if you already own a significant quantity of land that can be subdivided into smaller parcels, you are already in a better position than the other competitors.
    • If this is the case, you should consider selling the property and investing the proceeds in another investment property.
    • On the other hand, having a property that is used for both residential and commercial purposes has the potential to bring in a sizeable amount of additional revenue.
    • Imagine for a moment that you are interested in constructing a pair of duplex residences by way of a standard dual occupancy.
    • Of course, in order for a building with a mixed-use occupancy to be approved, the land on which it is to be constructed will also need to have an adequate footprint, and the minimum land area required for such a structure may vary depending on its location.
    • You don't want to end up with a site that is incapable of supporting the building of a home that can accommodate both owner-occupants and renters, do you?It is possible to make the most money off of real estate by acquiring a corner block, which is especially true if the block in question is zoned for development.
    • This is one scenario in which owning a corner block may help you make the most money.
    • This, in addition to the fact that corner lots offer additional building possibilities, may significantly boost the property's appeal and value.
    • On a corner lot, for instance, you might have an old house that you intend to demolish in the future, but in the meantime, you keep it rented out so that you can get the necessary approvals to build a home that can accommodate two families at the same time.
    • Alternatively, you might have a home that is too small to accommodate two families at once.
    • Profit PotentialDual occupancy buildings that are both well-designed and well-located have the potential to deliver great cash flow.
    • This is due to the fact that dual occupancy homes receive rent from two independent tenants at the same time.
    • Additionally, making an investment in the properties with the intention of keeping them for an extended period of time might result in significant capital growth due to the presence of two properties on the same site rather than just one.
    • This would be the case if the properties were held for an extended period of time.
    • You may make an educated selection regarding your treatment by consulting the following list of builder services offered in Melbourne.
    • If you want to make sure that your plans for investments have a chance of materialising into profitable reality, it is absolutely necessary for you to obtain the counsel and direction of a professional before moving forwards with any kind of property development.
    • This is the only way to guarantee that your plans will be successful.
    • If you are interested in developing a property that can accommodate both residential and commercial tenants, please get in contact with us as soon as you can.

    Frequently Asked Questions About Dual Occupancy

    The development costs for any dual occupancy project will vary between $80k – 120K*. Building costs will depend on the type of duplex construction. Average figures on top of the development are: 2 x 4 bedroom with high-end finishes around $1m.

    Most homes in inner Melbourne don't have the width to allow for a duplex. However, it is possible to build a duplex one behind the other, with the driveway on one side. The downside of this is that the back home doesn't have street appeal, which counts for something when considering resale.

    A dual occupancy property is when you build two or more separate properties on the same block of land. Or, it can mean building a whole new house next to or behind your existing home. It essentially means that you have two or more homes on the one title of land that will ultimately get subdivided in the future.

    An upmarket luxury build could set you back by $3000/sqm for a double storey dwelling. In a typical suburban dual occ or two town house development allow $1350+ per sqm for a double storey home or around $1700 including site costs.

    As adjectives the difference between double and duplex is that double is made up of two matching or complementary elements while duplex is double, made up of two parts.
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