You may have heard the terms Dual Occupancy, Duplexes & Granny Flats used when researching your new home options. It is worth learning what these terms mean since they refer to quite different arrangements.

Dual Occupancy

Also known as shared living, these designs are two separate dual living homes. The land, unlike duplex dwellings, is not able to be sub-divided and can, therefore, have less building and council costs compared to a duplex.

Although under one building title you can have separate utilities and an option to convert the dwelling back to one big home if desired down the track.

Granny Flats

A granny flat can be defined as a fully self-contained home extension that is built on the same plot of land that the main home is. Essentially, it is another, smaller home on your property. Usually, the granny flat is located to the rear of the main home, and it can share the backyard with the main home or have its own section of the yard fenced off. Local councils will dictate what the maximum size of a granny flat can be (usually no more than 60 square metres).

What Does a Granny Flat Contain?

As a granny flat is fully self-contained, they’ll usually contain the following rooms:
• A bedroom (usually just the one)
• A kitchen or kitchenette
• A living area
• A bathroom (either separate or an ensuite)
• A laundry (either separate or contained within the bathroom or kitchen)

Who are Granny Flats Suited To?

The beauty of granny flats is that they are so versatile in terms of who can occupy them. They are enduringly popular for ageing people (parents and grandparents) as they are still able to keep their independence while still staying close to family for comfort and support. However, granny flats are also suited to children that are moving out for the first time, or for family members or close friends. Granny flats are also becoming a popular investment choice as homeowners can easily rent them out for extra income.

Duplex

These are two separate dwellings with separate titles, joined by a common ‘party wall’. The land again must be zoned for this type of Building Development and comply with any local council requirements (e.g. boundaries and driveway designs).


Dual Keys might be a great, cash-flow positive, adding to your portfolio, to help you grow your income and keep your portfolio in balance.

If you are looking for dual property investment in Sydney, do not hesitate to call Dual Keys today!



source: hipages, stroudhomes