In previous posts, we’ve looked at dual occupancy and its potential as a possible property investment solution. You’ll also find some basics on the tax benefits of this type of development and useful links to find out more on considerations such as capital gains tax and negative gearing.
Once you’ve got yourself familiar with the basics of dual occupancy, one of the first things to consider is whether your block of land is suitable for this type of development.
Sizing it up
When you first thought of dual occupancy as a possible property investment strategy, the thought no doubt crossed your mind that bigger is always better. However, while a wide block obviously makes life easier when it comes to subdividing, or for knocking down an existing home to make way for the construction of duplexes, don’t let the size or shape of your block put you off.
Most blocks, depending on your local council regulations, have the potential for dual occupancy development. You just need to keep in mind the considerations of each individual size/shape, but you’ll find they all have benefits.
You can check out the skinny on narrow duplex designs for more detail on this type of block, however, in a nutshell, the benefit of narrow blocks for a dual occupancy investment lies in the fact that they are often overlooked. Many investors will consider a narrow block and think, ‘too hard!’ This means you can often score one at a great price in a suburb with excellent potential for return on your investment.
While building a dual occupancy dwelling on a narrow block is not as easy as picking a ready-made plan, an experienced builder will work with you to custom design the right construction for your narrow block. As we discussed in our previous post, your custom design will incorporate space saving techniques, clever floor plans, built-in storage and streamlined open plan living zones to make the most of the space.
Like a block of land with a wide street frontage, a corner block has fantastic potential for the construction of a dual occupancy development. With separate access to the block on two streets, you have greater flexibility when it comes to the design of your investment property.
Again, this is where a custom design is a great option. A builder like Jones Homes can make sure the construction of the two homes on your corner block makes the most of their individual aspects, providing both occupants with optimal living conditions.
Similar to a narrow block, sloping blocks are often overlooked as potential sites for property investment, however, don’t discount their benefits. A sloping block means a split level home, or for a dual occupancy development, you might consider a split level duplex. If you’re planning to live in one of the homes on your property, this presents a wonderful opportunity to choose a custom design that incorporates things like separate living areas on different levels, loads of natural light and great views.
So if you’re considering a dual occupancy property investment, don’t let the shape/size of your block restrict the type of construction you choose. With a reputable builder like Jones Homes, who can work with you on a custom design, your vision is limited only by your imagination. Talk to our team about our dual occupancy options.