Smart homeowners as well as real estate investors are always on the lookout for possibilities that are new and also exciting in this market which is extremely dynamic. The very concept of two different people living in one dwelling is gaining traction in the present time. This innovative form of building has actually become a popular choice of investment and also a great solution to many issues of housing.
Dual Occupancy Investment - a lucrative investment option
While it is about maximisation of the assets of real estate and at the same time tackling the various issues associated with present day living then dual occupancy which is also sometimes known as dual living or duplex houses would just be the perfect prospect.
So why exactly is the world of duplex houses gaining popularity? Understanding the very idea or rather the concept of duplex houses is extremely important.
The basic idea of a duplex revolves around the fact that there are basically two dwellings on the same plot of land. It is like building a big house which is then divided into two so that the two units can actually be used in an independent manner.
Yet another way of looking at the concept is that this form of building actually leads to the generation of two separate streams of income for the concerned investor.
In case of duplex houses where there are two homes on a single piece of land it leads to saving of funds associated with stamp duty as well as maintenance.
By being the owner of two properties it opens the door to two different sources of rental income.
Thus Dual Occupancy Investment is a great way to build wealth. Also if the need arises then one half of the duplex can be sold whereas the other half can be kept as it is.
Dual occupancy properties are really good options for investment and one important reason for this is because of their cash flow potential.
However the factor of location needs to be kept in mind and should be given considerable priority before investing in the dual occupancy property.
The biggest advantage is that dual occupancy properties generate higher rental income when compared to single properties in the same area.
Property Investment could never have been better
The most rewarding aspect associated with dual occupancy homes is that two dwellings can be built on the same plot of land and then they can be sold separately.
It is always advisable as well as a cost-effective process to demolish the house that is existing and build two brand new homes on the land or site than to have the old one preserved and carry on with the activities of renovations as well as remodelling.
Dual Occupancy Investment implies the investor or the owner shall have two different properties to be added to his or her portfolio and this is made possible by just a single construction.
When ideal locations are selected for the dual occupancy property then adds to the convenience of the residents as facilities and services are easily available.
Duplex Homes - A Convenient Option
The prices of housing have skyrocketed to considerable amounts. It is becoming increasingly difficult to buy new houses. So it is better to switch over to dual occupancy properties. Bet it for investors or for tenants, dual occupancy properties provide a lot of advantages to both. A number of issues of living are sorted out by these properties. If the question of privacy arises then duplex homes are the wisest and the best solution or answer to it. There are professional designers who can give the duplex home the best and the most convenient design possible.
Having a single home on a plot of land has a lot of value but when the same land is put to use and a duplex home is built then it further increases the value of the land. So the best benefits out of the property can be reaped by building a duplex home. Especially for blocks which are large enough and can be split into two, the prospect can actually prove to be a lucrative one. When it comes to Property Investment, duplex homes are a great option.
SMSF and Duplex Homes
When a dual occupancy property is being constructed and the payment for it is given by means of the self managed super fund then that can actually increase the retirement savings and that enable one to live a life that was chosen once the person concerned retires. For the retired people the trend that is very popular is that one half of the property is used for the purpose of living whereas the other half is rented out and this type of Property Investment is always preferred.
A duplex home is ideal for individuals who are interested in investing in the sector of real estate. Also it should be mentioned here that this kind of property is best suited for grandparents who are eager to come closer to their grandchildren.
Purchasing a house that can be used for the purpose of living as well as for working is a great way to deal with the market of real estate. The danger level is minimal as the value of the house shall be there and so will be the rent which will actually give a great return.
Final Note
Dual occupancy property or duplex homes are a great choice for both investors as well as people who are planning to reside there as tenants. A plethora of benefits are associated with duplex homes and considering the present situation of the real estate market, investing in dual occupancy property brings with it a lot of benefits and opportunities.