Why dual occupancy homes are the best assets you can invest in
Whether you’re buying a home for your parents or yourself, your property should be a profitable investment and not a liability. Coming home shouldn’t feel like a constant burden and it’s best to go about investing in a property smartly rather than quickly. In order to receive quick returns, the ideal asset would be a dual occupancy home.
Dual occupancy homes have received increased amounts of attention in the past few years and are unique investment opportunities where you can reside in one part of the home while renting out the other. This way, you can easily pay down the mortgage while also enjoying the comfort of your home. Dual occupancy homes are also known to be positive cash flow-oriented properties.
They can also be ideal for several occasions. While cash might be the first thing on your mind with the tag of mortgage flying above your head, dual occupancy homes are also ideal if and when your teenager wants the freedom of living alone but you don’t want to set them too far apart. While staying in close contact, both you and your child gain peace of mind without worrying too much about the situation in hand.
It is also ideal if you’re looking to provide for your parents and don’t want them to be too far apart. This way, you can check up on their health and them every now and then without being left in the dark for too long.
However, on a more ‘profitable’ term, a dual occupancy home has several advantages and can help you achieve a powerful cash flow almost immediately. Dual occupancy designs in Melbourne are of 3 main types:
(i) Duplex: Two properties that share common walls, thus dividing it into separate homes that can be sold individually.
(ii) Dual occupancy: Similar to duplexes; common land, but no common walls.
(iii) Dual-key property: Shared front entrance door, perhaps additional living space and kitchen. The rented out property is locked and given off to the tenant.
Although there might be 3 different types of dual occupancy homes, it’s not necessary for each to be equally profitable. While investing and renting out your home, it’s important to know what everyone around you is looking for and how much people are willing to pay and for which design. This will automatically help in raising property value, resulting in added profits.
LBD Homes are Boutique Home Builders established in Melbourne and strive to provide you with the home you didn’t know you needed. Luxury and comfort don’t just remain an ideal and can be easily attained with the right venture.
Designing a Dual occupancy home to be a beautiful boutique home will only raise its value in the market (while also complimenting your style of living!). A dual occupancy property is capable of providing an immediate equity uplift (Duplex, dual occupancy) by dividing the property into two separate homes, which further allows them to double their value.
Steady cash flow can be easily received by the benefit of rental income. If you choose to rent out both the homes, you gain an immediate advantage at receiving income from two properties, while investing in only one, you can get extensive knowledge on why a dual occupancy home is ideal for you, all while helping you make the home of your dreams come true. With the option of complete customization based on the property’s convenience, LBD Homes can give you an opulent, snug home in your footsteps.
After all, a smart investment is a reliable investment!