Dual occupancy homes: what you need to know
Dual occupancy homes do not typically have the option of strata, and will remain on a single title. As an owner however, you might choose to reside in one yourself and rent out the other, or rent both properties out either together or separately. Although both residences will be self-contained with their own individual entrances, some people may add in an internal door for access if family is residing in the adjoining residence.
For many people the rental income from one property while you reside in the other or income from both rented out simultaneously, will seriously offset the cost of your mortgage. After all, two residences with two bedrooms will be rented for more overall than a 4-bedroom house on the same block size. For this reason, if you already live in an established house you might consider building a granny flat to allow for an additional revenue stream. … Read More