Buying a property suitable for dual occupancy can be extremely beneficial. For investors, they provide two rental incomes from a single asset. For regular buyers, they are an affordable housing solution and accommodate for multi-generational living. Duplex home designs from Meridian Homes are well suited for dual occupancy, offering independent, self-contained living accommodation under the one roof.
What Is A Duplex Home Design?
A duplex is a single residential building that contains two homes separated by a common central wall. Both dwellings are completely separate entities containing their own entrances and amenities. Each home typically has its own driveway, garden, backyard, bedrooms, kitchen, bathroom and everything else you’d expect to find in a detached house.
Duplexes come in a variety of configurations and designs. As most duplex homes are double storey, they contain larger and more spacious dwellings as opposed to other dual occupancy alternatives. Each individual home has its own postal address and can be owned and sold separately.
Advantages Of A Duplex Home Design
Duplexes offer an affordable housing solution for many Australians. They are cheaper than buying an ordinary house and provide potential buyers with the opportunity to own property in sought-after areas without breaking the bank. By purchasing a duplex, you are essentially buying two homes for the price of one. By owning a single block of land with two homes, the total price of owning two income producing properties is significantly reduced. Duplexes are perfect for first-home buyers, retirees, down-sizers or anyone wanting a low-maintenance lifestyle with a relatively moderate budget.
2. Rental Returns
Owning a pair of duplexes allows you to control your rental income. You have the option to rent out both dwellings and receive two incomes, or live in one while you rent out the other. The additional income you earn can help to prevent financial strain and contribute towards your mortgage.
Fancy being a landlord? Renting out the other side of your duplex provides you with the opportunity to customise a lease, collect rent and screen potential tenants. Plus, living next door to your rental property enables you to check for any repairs and ensure your tenants behave appropriately.
3. Multi-Generational Living
Generational shifts have changed the way Australians live, with dual occupancy homes now in high demand. When you invest in a dual living home such as a duplex, you are investing in the future of your family. Our duplex home designs offer independent, self-contained accommodation suitable for dual occupancy and multi-generational living. They are light-filled, stylish and welcoming, crafted specifically for the needs of the multi-generational family. Duplexes provide the perfect space for grown children, ageing parents or extended family. For those elderly family members requiring additional care, it enables you to check in with ease, giving you peace of mind knowing they are supported, while still upholding privacy without “living in each other’s pockets.”
4. Low Maintenance
Simply put, owning a single dwelling in a duplex requires significantly less maintenance. Half a block of land requires half the maintenance of a full block, meaning less time mowing lawn and more time spent with family and friends.
Another benefit of living in a duplex is security. You get the security benefits of having a close neighbour without getting in each other’s way. This can be extremely beneficial for the ederly or vulnerable members of the community, who require extra care and attention.
Disadvantages Of A Duplex Home Design
1. Smaller Size
Because of their smaller size, a duplex home design might not be suitable for larger families or households with large pets. They do not provide the same room as a normal house, both inside and out. Unless you’re prepared to take your dogs on regular walks, the backyard of a duplex might be too small for their needs.
2. External Renovations & Insurance
Before making any changes to the external facade of your property, you must get the approval of your neighbour before you commence. You will also need to agree on an insurance policy for both dwellings. Keep in mind that if you buy the entire duplex and rent out one dwelling, you’ll be living next door to your tenants.
3. Proximity To Neighbours
When buying a duplex or dual occupancy home, you must be prepared to live in very close quarters to your immediate neighbours. Despite this being a huge turn-off for some people, if you’re willing to bear the costs of duplex living, these homes can be an affordable, low maintenance housing solution.
At Meridian Homes, we are committed to helping you find the perfect duplex home design for your family. Our exquisite homes designs are modern, spacious and welcoming. Visit one of our fully-furnished display homes or contact our friendly team of experts for more information.