Dual-occupancy homes have surged in popularity in recent years as Australian homeowners seek to maximise their investments.
Whether you're looking for a house to accommodate a multigenerational living situation, seeking an investment property, or simply want to get the most from your block of land, a dual-occupancy build could be for you.
Let's look at the advantages of dual-occupancy homes and explore why more and more Australians are embracing the trend.
Dual occupancy homes (sometimes called dual occupancy auxiliary properties) are home designs that allow two homes to exist under one title. Different types of home designs can be considered dual occupancy home designs, including:
It's important to remember that the regulations for dual occupancy homes will vary in different areas, so it's always worth checking with your local council or trusted builder what the guidelines are in your area.
Looking to get into the rental market? A dual occupancy home design offers a flexible range of options. Some families live in one dwelling while renting out the other. There's also the option to rent both spaces out and have two rental incomes from a single property, increasing your rental yield. The rental income is a handy way to pay back mortgage payments and eventually make some extra cash.
One of the key appeals of dual occupancy is the opportunity to build two dwellings on a single lot of land. With land prices rising, this could save you a bundle in purchase costs and stamp duty. Depending on your design, building two attached dwellings or two separate buildings on a single block could reduce construction costs.
Though multigenerational living has been common in Asia and Europe for centuries, it's only just become more popular in Australian households.
A dual-occupancy home offers the ideal balance of keeping family close without giving up privacy and independence. Whether you'd like a granny flat for retired parents, a duplex to provide your grown children with their own space, or simply more room for family members when they visit, a dual occupancy home offers flexibility for any family situation.
Like with all home designs, it's important to step back and consider why you're developing the new space in the first place. Your goals for the property will impact design choices. For example, the design you would choose for a purely rental property will differ from what you would prefer were you living there yourself.
If you have specific tenants in mind, whether it is yourself or family members, you can create a design that will best suit their needs and lifestyles. If, however, you are building a rental, having an idea of what potential renters want and the type of tenant you're targeting will be influential in your final design.
Open floor plans are a common way to make smaller homes feel larger, especially in living areas. If you're working on a budget, it can be helpful to list what is essential to your home design and what would be nice, but you could live without.
Our team can help you navigate the ideal home design for you and your loved ones. We've helped countless families with their designs and are confident we can do the same for you.
One of the most frequent questions we get asked is how long it'll take to build a home. While it can vary depending on numerous factors, the average custom home takes around 12 months to construct. Due to the length of your new project, it's important to be working with an experienced builder who has the skills and knowledge to bring your vision to life. Ideally, with experience in building home designs like the one you have in mind.
Some of the key factors that will influence the length of your build include:
Our team believes in a collaborative process and strives to make your home build as smooth as possible.
The property and rental market are both experiencing booms at the moment and a dual-occupancy home design is a great way to capitalise on this trend. With a rising demand for affordable housing, dual occupancy has an in-built market, including young couples, students, small families, and retirees.
With the right design, location, and market research, a dual occupancy design is an opportunity to maximise returns on your investment. While all investments have an element of risk, performing your due diligence will help ensure you take all the right steps to give your property the best chance of succeeding.
Wollongong is a booming marketplace for numerous reasons. A family-friendly area, full of recreational and employment opportunities, while being only 1.5 hour drive from Sydney, Wollongong has a lot of investment potential.
For those looking to invest, dual occupancy is a great way to increase rental yield and could lead to a profitable resale in years to come.
Your choice of builder is a make-or-break decision for your entire building process. You need to find someone with a strong reputation, who can work within your budget and has relevant experience.
A Class Building is an award-winning custom builder, with over 45 years of collective experience building homes in the Illawarra and Wollongong areas. We offer a wide range of designs for families, couples and investment properties. We take pride in every project as though we were building it for ourselves, and we would love to discuss your next building project today.
Dual-occupancy homes are growing in popularity throughout Australia, including in Illawarra and Wollongong. For multigenerational families, the design offers a perfect balance between closeness and independence. From an investment perspective, it's an opportunity to get more from your block of land, potentially being a great way to enter the rental market.
A Class Building is here to help you create your dream home. Whether you're looking to bring your dream home to life or want to create an investment property, we're keen to be involved. Get in touch with our expert, friendly team today to discuss your next build.
