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What Is a Dual Occupancy Home? Your Questions Answered
With the housing market in limbo, many people are looking for alternatives to traditional housing. One popular option: dual occupancy.
First things first: what is dual occupancy? Dual occupancy is a type of property where a single block of land contains two (or more) dwellings instead of one. The idea is to maximize the value of the land, which can be a great opportunity for investors.
For people looking for affordable housing, this is one of the best options on the market. Here's more on what is a dual occupancy home and how it all works.
Why Dual Occupancy Makes Sense
Dual occupancy gives buyers and property owners more options. If you already own some land, you may want to optimize the block by opting for dual occupancy. Buying a block of land for these purposes can provide great rental and income returns.
If you own a home on the right block, dual occupancy allows you to rebuild it into two modern homes. From there, you may continue to live in one and sell or rent the other. You can also bring adult children or elderly parents closer to you.
How Does Dual Occupancy Work
There are two main types of dual occupancy developments. You have stand-alone units ... more
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