Factors to Consider while building dual occupancy

Dual occupancy homes or duplex or multi-dwellings are property with one title but two residencies. It can be one house behind the other with driveway access or a side-by-side dwelling with attachment.

Real estate is one of the best investments, though figuring out investing in which property will yield the best result is essential before making any investment. Understanding the long-term monetary benefit can help secure your future. And dual occupancy homes are the hottest real estate investment for both living and the future.

Whether you are looking to invest in a dual occupancy home or build one in the spare space your home has, it can help secure your future.

Dual occupancy homes or duplex or multi-dwellings are property with one title but two residencies. It can be one house behind the other with driveway access or a side-by-side dwelling with attachment.

If you are thinking of building one or investing in one, here are few things you should know about dual occupancy homes.

Types

  • Duplex: They are two properties sharing common walls. One big house is divided into two separate properties and are sold as individually as well/
  • Dual occupancy: They are similar to duplexes. They share a common land but not walls.
  • Dual-key property: It shares a front entrance door and an additional space like a kitchen. A particular section in the property is locked for renting purposes.

Factors to consider while building dual occupancy

Building a dual occupancy for any purpose requires research and knowledge. You are investing money and your heart in a project. Therefore, following the below tips is essential for you.

1. Understand the reason behind building a dual occupancy

Why are you constructing or investing in a dual occupancy? Before you hire a company to fashion one, knowing the goals for doing it is imperative. Maybe you are looking to occupy one section and rent others? Or it can be that both are for selling as part of securing your future?

Knowing the goals will help you move forward in the right manner. If you are planning to sell one and retain one, the steps are different from selling both.

2. Understand the price of dual occupancy before you start building

Builders can offer prices that seem appealing at first. But they can contain tons of hidden prices in it, which may be a surprise for you. It can lead to unstable finances or problems funding the build. Therefore, do your research before you settle on the builder. Find one who offers you upfront prices and answers all your questions up front.

3. Find a builder who can take away your stress

Dual occupancy unquestionably offers increased financial benefits. Though, they can increase your stress too. Building one house is a hectic and stressful process. Imagine what building two homes will be like?

Therefore, it is essential to find a builder who can take away the stress. They should be able to take over the process entirely. Keeping you in the loop is necessary. But if they already have solutions for problems, it makes constructing dual occupancy considerably easy.

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