Dual living dwellings are becoming increasingly more popular for both investors and home owners. For investors, dual living provides an opportunity to receive two rental incomes, meaning the property should be positively geared. For home owners; they can utilise the extra rental income, allowing them to pay down their mortgage faster, decreasing the amount of interest paid.
What is Dual Living?
Dual living is two dwellings on one lot of land, usually separated by a fire or party wall. There is usually a larger dwelling with all of the inclusions of a standard home and the second dwelling is generally a one to two bedroom “unit” with a smaller kitchen, lounge and bathroom.
Why Dual Living?
In addition to increased cashflow, dual living has;
cheaper build costs compared to a duplex or two separate dwellings
Purchase only one block of land
lower maintenance costs
one set of rates / no body corporate fees
lower risk - if one property is vacant for a certain period, there is still an income from the other dwelling
For an example of a dual living design, check out Exclusive Living and Lifestyle’s design “Hudson” at https://www.exclusiveliving.com.au/designs/
For more information or to build a dual living property feel free to use our contact form, by phone or email.