In the ever-growing landscape of real estate and with an increasing population, multi-unit housing development projects have experienced a remarkable boom in recent years. In response to this trend, many Australians have seized the opportunity to transform their undeveloped land or unused spaces into profitable investments by constructing attractive living spaces.
Dual occupancy, in particular, has emerged as a popular choice due to its numerous advantages. Let's explore why you should consider embracing this trend too.
Rental Income Boost: Building a duplex or triplex on your property instantly doubles or triples your rental income streams. Reports suggest that having multiple housing units can increase overall rental income by 30 to 70% compared to a single-family home. These additional dwellings can attract families or groups of students seeking independent living spaces, making them highly appealing to potential tenants.
Enhanced Property Value: Properties with the capacity to accommodate multiple tenant groups command higher value in the market. With the ability to generate more revenue for potential buyers, multi-unit dwellings are becoming increasingly sought after. As housing prices continue to rise, the demand for dwellings that offer both residential comfort and additional rental income has surged. Dual occupancy homes perfectly fulfill this demand.
Stamp Duty Savings: Homes with extra units provide a significant advantage when it comes to stamp duty. In most cases, you only need to pay stamp duty for the land if you are constructing new multi-unit dwellings on it. This aligns with the government's push to encourage more living units for families and students in a single property. As property prices and rents soar, the demand for affordable living spaces, especially among international students, has intensified. Dual occupancy homes present an ideal solution, enabling residents to save on stamp duty while earning higher rental income.
Extended Family Accommodation: Modern living trends show a preference for having elderly parents or aging relatives living close by. This arrangement not only provides crucial parental support for younger family members but also ensures better care for the elderly. The popularity of beautifully designed granny-flats in close proximity to main houses has soared. Accommodating extended families has become a key consideration for many home buyers, making homes with accessory apartments highly desirable in the current market.
At Integrity New Homes Geraldton, we are renowned for our extensive experience and expertise in developing multi-unit buildings and remodeling existing homes to include separate living units. Our portfolio boasts numerous duplex and triplex units across various locations, exemplifying our commitment to quality and customer satisfaction.
With the Integrity Edge guiding our approach, we strive to deliver the best products and services to our clients and customers. Whether you are considering a custom design duplex, triplex, or dual occupancy, tailored to suit your block and budget, or wish to explore our Design Library to find a plan that captivates you, our team is here to assist.
Embrace the trend of dual occupancy and capitalize on its numerous benefits. Contact us today to learn more about how we can create the perfect living solution for you and your investment goals.