Have you ever cruised around Sydney’s neighbourhoods and spotted properties with two distinct homes on one plot? That’s Dual Occupancy, and it’s swiftly becoming the go-to strategy in modern property development. This strategy has won the hearts of savvy retirees, ambitious homeowners, and forward-thinking investors.
In essence, Dual Occupancy means constructing two or more distinct residences on a singular plot of land. It could be a situation where you’re building an additional dwelling adjacent to or behind your current residence. And if you ever entertain the thought of selling, you’d simply subdivide the land accordingly.
It’s All About the Right Location
When diving into Dual Occupancy, choosing the ideal location is paramount. It’s more than just picking a prime area. It involves understanding local regulations, proximity to adjacent properties, and more. That’s where industry expertise becomes invaluable. The seasoned team at ApproveAll brings experience and insight to the table, guiding your decisions and illuminating the pathway to success. We’ll advise on when you might need a private certifier or when it’s time to seek DA approval from the council.
Deciphering Dual Occupancy Subdivision
This involves erecting two or more dwellings on a single title and subsequently partitioning the land to establish individual titles. It’s an excellent strategy if your vision is to sell both properties or perhaps reside in one and capitalise on the other.
Is Dual Occupancy a Worthwhile Investment?
Picture this: by developing two dwellings, you potentially harness double the rental income from a single asset. It’s an enticing proposition. Besides, over a prolonged period, there’s significant potential for appreciating value from two properties rather than one. Many discerning individuals find Dual Occupancy a compelling venture. Some even choose to reside in one property and lease the other, providing a smart strategy to offset mortgage costs.
