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How To Enhance The Value of Your Property, By Installing Dual Occupancy Builders?
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Have you heard of the term dual occupancy? So, what is dual occupancy? Dual occupancy in simple terms means, building not one but two homes within the same piece of land. It is the subdivision of an existing house and land into two allotments. This is a wonderful strategy for a first-time developer or investor wanting to boost their investment portfolio.
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What are the advantages of dual occupancy?
- It maximizes the value of the land.
- Two houses can generate two rental incomes.
- Earn double during resale. When you bought the land you paid for the land and the home. When you sell the land, you will make money through the second house as well.
- Even after redevelopment i.e., even if you demolish your original home to create two new ones, the value of your existing dwelling will be retained.
- Your existing home will also provide cash flow during the planning and development of the second home.
Here are some things you need to know while checking if your land is eligible for dual occupancy.
- If you are planning on constructing a dual occupancy home behind your existent house, you will need to make sure that you have around 3m wide driveway access to the rear yard. You should get all the basic amenities like school, shops, hospital, railway and bus stands, and most other basic facilities.
- Your site should allow adequate north-facing space for any landscaping or recreational activity.
- Your site should be fairly in level. If you have kind of sloping area that would not be conducive for dual occupancy. The title should be free of restrictions and preferably should not have any easements.
Dual occupancy builders offer customers dual occupancy plans for their property since they consist of designs and solutions that provide a strong investment, top-notch design, and functionality. You can find best dual occupancy builders who can provide solutions to design and construct separate houses on the same site, split-level separate accommodations or joined houses to suit your needs. Builders can also provide designs to create duplex houses with immense potential for as investment spaces.
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To get started here are some things you will need to remember:
- Budget – This is a crucial decision. The budget for your plans can greatly influence the plan, and the end product of your project.
- Land – Your land. Depending on the type of land you own, you can decide between a duplex design (side by side) or a battle-ax design (one behind the other).
- The house – How do you want your second home to look like? How many bedrooms? What other feature would you like to include here?
- Style – Once you have decided the house and house type, you can take a look at the style and amenities.
Dual occupancy is especially a great idea your home no longer suits you. Many customers decide to demolish the existing home. However, if you plan to do so, there are few pointers you got to remember here such as,
- Alternative accommodation during the build.
- Potential vegetation overlays and protection of trees and plants.
- Replacement of old fences and demolition of front-facing construction.
- Protection of neighboring properties by using scaffolding and mesh.
- Overhead power conversion to underground power conversion.
So, what happens when you decide to go for a dual occupancy builder? Dual occupancy builders will offer you end-to-end solutions. Starting from the initial design and planning, they will help you through construction and landscaping as well. You can negotiate the budget after determining about the design and then following certain layouts and plans that will go well according to the current building plans.
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