While the price of land in Melbourne continues to rise, investors are looking for an optimized return on their investment. This leads to investing in dual occupancy homes. Dual occupancy comprises two strata dwellings on a single block and has a high-density living arrangement. You must have heard the concept of dual occupancy under various names such as ‘multi-dwelling’ or ‘duplex’. It is important to understand the basics of dual occupancy before you think about investing in it.
- What are the requirements?
Before you finalise a custom home builder in Melbourne, it is important to know that the rules and regulations differ in different states. Make sure you determine what all you are allowed to do with your block and what are the restrictions.
- Wondering how to get started?
Once you have an idea about the do’s and don’ts, you shall start by getting in touch with a Multi-unit builder in Melbourne. Reliable builders like LBD Homes will be able to propose a solid design that will be appropriate for the land that is available and will suit your budget too.
You mustn’t make any decisions in a hurry. To get the best results you should not rush once coming up with the design and layout of your new home. To ensure that you are choosing the right builder for your project make sure that you visit builder show homes. Doing this will allow you to create notes on the options that significantly align along with your tastes. You can even come across designs that you must’ve never thought of before.
- Why is the concept of dual occupancy being celebrated?
A lot of Australians love the concept of living in a dual occupancy. As more people start to move into urbanised areas, they still long to be connected to their families. This is when the idea of dual occupancy fits perfectly. It is the blend of privacy while staying close to your loved ones. From granny flats to multi-units and townhouses- the dual occupancy developments continue to rise.
- Types of dual occupancy
Dual occs can be spotted in two ways. It can be either spotted as a separate dwelling or it can be attached in a duplex. The best part about investing in dual occupancy is that there is always a scope for renting the other half of the property. Below listed are some of the most common types of dual occs
1. Granny flats
Granny flats are small apartments that are ideally located near a large yard. Before building these flats. The approval of the council is required to build these types of apartments. Also if you are planning to rent out the property then the tenants should be accepted in into the property.
A Duplex entails two properties that are adjoined or they share common walls. This type of house is divided into two separate properties. Hence, one amazing thing is that it can, therefore, be sold separately.
The dual key is a type of property with a shared front entrance door and hallway. Sometimes you might also notice that the property has common living spaces. If the property needs to be rented out then a section within the property is usually locked and rented out to a separate tenant. Whether you are planning to invest in a dual occupancy home or you need custom home improvement services, make sure to get in touch with LBD homes as they will help you to design the home of your dreams.