Dual occupancy homes are becoming increasingly popular in Sydney as Australians are finding new affordable ways to enter the property market. Deciding to build this type of home has a number of advantages for investors and homeowners but how do you know it’s the right option for you and your family?
What is a Dual Occupancy Home?
A dual occupancy home consists of one block of land with 2 dwellings. Dual occupancy home designs allow the owner to live in one house and sell the other, rent the other, or sell both. They offer benefits for both investors looking to maximise their income, and homeowners wanting to give independence to family members without losing distance.
Types of dual occupancy home designs can include:
Granny Flat + Main House
A granny flat is a smaller home that is built on the same block of land but is not attached to the home. This is a very popular option for elderly parents or ageing teenagers that require independent space while still being close to family. It can also be used as another source of income to the family home without having to share any walls.
Two dwellings on one block
Dual occupancy home designs often known as a duplex, contain two houses on the same block of land, which the owner can rent the second home or sell. This is perfect for buyers that want to downsize but remain in their home suburb and street.
Alternatively, our home builder tool allows flexible and custom home designs to accommodate different dual occupancy options for your family.
Is a Dual Occupancy Home Right for you?
If you’re trying to get a start in the real estate market, looking for more privacy than an apartment, and wanting a high return on your investment, a dual occupancy home could be the overlooked option you’re calling for. By owning two dwellings on the same block of land you can increase the value of your block, establish resourceful investment opportunities and create flexible living arrangements. Your home should suit your lifestyle and would-be homeowners are looking to upgrade their living situation to create more space for their family members, whether that be growing teenagers, adult children still living at home or elderly parents and grandparents moving in.
Benefits of Dual Occupancy Home Designs
Balance of independence and togetherness
Custom-built dual occupancy homes from Meridian are designed to optimise the space and make the most of the available room. While we understand each family member needs a bit of space and independence, a family can still be close together on the same lot.
Opportunity for extra income
Two homes on the same block of land offers an impressive potential opportunity to earn extra income. This may be from either selling both houses, living in one and selling or renting the other. This can significantly maximise the potential of your block of land and its value. Multi-dwelling homes such as houses with granny flats can be a cost effective option rather than two separate blocks of land and two separate constructions.
Things to Consider
Before starting the design and building process, it’s essential that you consider the rules and regulations of the NSW government and your local council. Dual occupancies can be approved as a complying development providing they meet certain standards but the team at Meridian Homes can assist you with all approvals to make your duplex build is as easy as possible.