Advantages of Having Dual Key Properties

You must be wondering, what exactly is a dual key property?

First of all, a dual key property is one house with a separate dwelling on the inside, usually with its door lock and private access. The main house will have your standard living areas, bathroom, kitchen, bedrooms, and outdoor space, while the secondary house will typically have one or two bedrooms, a bathroom, and a kitchen. It could have its garage or not. The smaller property may be just a studio.

Dual key homes are gradually gaining in popularity as Australia's population ages, even though they are relatively new property additions to the market. So, what's the big deal about buying one?

The advantages of a dual key property:

1. You only have to pay one strata fee
To begin with, because there is only one strata fee to pay, you are effectively getting two properties for the price of one, making the purchase much more affordable.

2. On one title, there are two income-producing properties
Because you can buy two properties under one title, you can rent out both of them, resulting in a higher rental return for property investors.

3. Maintenance costs are lower
Due to the fact that dual key homes are on a single lot, residents may only have to pay one set of council fees and water rates. You won't have to worry about mowing the lawn because the smaller property may not have any outdoor areas. Your appliances are less likely to require repairs in the next few years if you buy a brand new dual-key property.

4. Give you more privacy
You may have more privacy with a dual key property. If your children are older and want their own space, you can live in one section of the house while they live in the other.

5. Perfect for elderly residents
Families with elderly relatives may benefit from a dual key property if they need to care for them while staying close by. A dual key home is an ideal solution for this, as it allows each resident to go about their daily routine in their own space.

6. Great for Students
In addition, dual key homes offer a low-cost lifestyle that is ideal for students and first-time renters. The main house can be rented out to a group of friends, while the smaller property can be rented to couples.

Well, now you know the advantages of Dual Key properties. Thinking about buying one?

No worries! here in Dual Key Property Sydney, we can help you find the best dual key property you want. call us now and leave it to our expert's team to find the perfect property for you!