Investor, Downsizer or a Homeowner? Melbourne’s land value continues to progress upwards and the smart option has been shown to be Dual Occupancy building. This allows owners to maximise the space on their land to achieve the biggest financial return. Families are choosing to live in one dwelling and rent or sell the second, this strategy is getting the limelight for all the right reasons.
The emergence of dual occupancy building has been clear to see. Suitable for entry into the property market, with the ability to offset a mortgage.
Investing in a dual occupancy property allows for a greater return on investment from the one piece of land. “Dual occupancy developments occur when two dwellings are built on a single lot. In the case of Melbourne residential zoning, it is defined as a purely residential state, an event where, as one common example illustrates, a second home could be built within the lot boundary. Imagine building a ‘granny flat’ or even a second home in the back yard to be close to an ailing family member. This is only one of several possible configurations the dual occupancy properties could take, but to lawfully define the space, the property has to be subdivided.” PMA Surveyors
If you are looking to develop a dual occupancy property in Melbourne, then Arlington Homes are the trusted choice. We can aid in the design and construct stylish properties that will increase your property’s value.
Dual occupancy properties are becoming increasingly popular for the money saved on construction and their potential for greater return on investment. Several benefits are associated with these type of investment properties, the main factor being the ability to maximise the potential of one block of land.
This means improved cash flow and reduced maintenance costs, a smart decision for investors seeking to grow their property portfolio. Developing a duplex property means that you are only dealing with one building company ensuring all council and building administration are completed together
A growing trend in the property market is downsizers seeking to reduce the size of their home. This, in turn, shifts the focus towards “lifestyle-rich” experiences. Proving more of a need in later years of life as individuals retire from work to live in areas such as Brighton, Caulfield and Heidelberg. This need has been identified by the government who also wish to see the property market continue to flow over the years. (Read more about the government incentive on our blog)
Although there may be many questions please feel free to visit our blog that discusses freuently asked questions for Dual Occupancy FAQ’s in 2020.
If you would like to start the conversation with Arlington Homes on building your dream duplex property, or have any other questions, feel free to get in contact with our friendly team of staff.
Fill out an enquiry form on our contact page or give us a call on (03) 9375 4194 and we will be happy to assist you with your enquiries.