Why Dual Occupancy...?
With the growth in population and growing stress on available real estate, multi-unit housing development projects have seen a boom in the latest six year new home building cycle. By the close of 2020, the industry had grown to a market size of $46bn. Today many Australians are converting their undeveloped piece of land or that extra space in their front yard into a profitable investment by building an attractive living space there.
Here's why you should too...
By building a Duplex (or a triplex) on your land, you double (or triple) your number of rental income streams. The overall rental income is reportedly increased by 30 to 70% by building multiple housing units on your land instead of a single-family home. Constructing an accessory dwelling unit attached to or detached from your home can easily attract a family or a group of students looking for independent living facilities.
The value of your property increases if it can be occupied by multiple groups of tenants instead of one, because your land now has the potential to generate more revenue for a prospective buyer. As housing prices increase every day, people are looking for dwellings that can not only be their home but can also supplement their livelihood with rent from the additional dwelling, or dwellings. . Real estate with options for dual occupancies are perfect for such people.
Save on stamp duty:
Housing with extra units save on stamp duty because you only need to pay stamp duty for the land if you are building new multi unit dwellings there. This is a part of the government's initiative to push for accommodating more living units for families and students in a given property. With rising property prices and rents, international students are searching for affordable living spaces in urban and suburban areas, which residential units with dual occupancies can easily provide. Many residents in Australia are taking advantage of this savings in stamp duty and earning a higher sum as rent.
Accommodation of extended families:
Nowadays people prefer to have their elderly parents or other aging relatives living close to their homes as it not only provides parental support for youngsters but also ensures better care for the elderly. This thought has led to the beautiful granny-flats that can be found close to many houses today. A home with a beautiful accessory apartment that can shelter aged family members, in becoming increasingly popular in the current market.
Integrity New Homes Local Builders have extensive experience and expertise in developing multi-unit buildings and re-modelling existing housing to include a separate unit that can cater as rental property or house a friend or family member if needed. We have built dozens of duplex and triplex units on the Coffs Coast, South Coast NSW, North West Sydney, North Queensland, Melbourne, The Surf Coast of Victoria, on the Gold Coast and in Brisbane, as well as many areas in between and they stand as statements for our commitment to quality and customer satisfaction.
We strive to provide the best in terms of products and services for our clients and customers- we call this the Integrity Edge.
For more information on creating a Custom Design Duplex, Triplex or Dual Occupancy for you, to suit your block and budget