Dual Living Homes – Which Type?

If you are new to property investment you are probably quite familiar with the concept of a duplex home. Two separate homes under the same roof. But did you know that there are other types of properties that offer two residences within the same build (dual living) but that differ from a duplex in several important ways?

These are called dual key or dual occupancy homes, and are gaining popularity among investors for a variety of reasons.

Where a duplex is generally two identical dwellings side by side, such as a 3 + 3 bedroom home or a 4 + 4 bedroom home, a dual key home can offer more of a mix. 3 + 1 bedroom dual key homes are a popular alternative to adding a granny flat extension onto an existing home, or buying another home with an existing granny flat.

3 + 2 bedroom homes are another popular option, with a family occupying one side and perhaps a working couple using the second bedroom as a home office. The ability to pick and choose the build design and number of bedrooms means these properties could be available to investors at a lower price.

Less bedrooms means a smaller home, and so in theory this can come with a lower build price. This makes the possibility of owning a dual living investment property that generates two rental income streams is more available to first time investors with limited capital.

Add in the ~$10,000 saving on stamp duty and one set of council rates to be paid rather than two, and all up this is starting to sounds like a very appealing investment option.

A duplex build with 3 + 3 bedrooms will require a substantially larger block of land than a 3 + 1 bedroom dual key home. This could mean either a lower initial investment due to smaller block of land being purchased, or the ability to pick up a great deal on a block of land and then be confident that a build plan can be customised for that block.

While it is important to keep in mind the cost of land works if blocks aren’t flat, as well as other factors such as road access, and the suburb profile to ensure you are making a low risk investment, having the option to choose designs does offer more flexibility.

Many of us will have lived in a shared house with messy or loud flatmates at some point. It is understandable then, that there is huge demand for one bedroom apartments at a lower weekly cost than renting a 2-3 bedroom home. Students, singles, couples, professionals who work long hours. In many cases privacy is greatly preferred over sharing space with friends, family, or strangers.

Let’s not forget families caring for older relatives- they can live in one side and have their family members in the other. Couples with adult children. Siblings. Friends. Living side by side but with complete privacy.

All in all the reasons for choosing a dual occupancy home instead of a duplex are compelling, but will of course depend on your individual situation. Speak to your own financial advisor and work out which option is best for you and your circumstances.

If you are new to property investment you are probably quite familiar with the concept of a duplex home. Two seperate homes under the same roof. But did you know that there are other types of properties that offer two residences within the same build (dual living) but that differ from a duplex in several important ways?

These are called dual key or dual occupancy homes, and are gaining popularity among investors for a variety of reasons.

Lower initial investment

Where a duplex is generally two identical dwellings side by side, such as a 3 + 3 bedroom home or a 4 + 4 bedroom home, a dual key home can offer more of a mix. 3 + 1 bedroom dual key homes are a popular alternative to adding a granny flat extension onto an existing home, or buying another home with an existing granny flat.

3 + 2 bedroom homes are another popular option, with a family occupying one side and perhaps a working couple using the second bedroom as a home office. The ability to pick and choose the build design and number of bedrooms means these properties could be available to investors at a lower price.

Less bedrooms means a smaller home, and so in theory this can come with a lower build price. This makes the possibility of owning a dual living investment property that generates two rental income streams is more available to first time investors with limited capital.

Add in the ~$10,000 saving on stamp duty and one set of council rates to be paid rather than two, and all up this is starting to sounds like a very appealing investment option.

Smaller land blocks

A duplex build with 3 + 3 bedrooms will require a substantially larger block of land than a 3 + 1 bedroom dual key home. This could mean either a lower initial investment due to smaller block of land being purchased, or the ability to pick up a great deal on a block of land and then be confident that a build plan can be customised for that block.

While it is important to keep in mind the cost of land works if blocks aren’t flat, as well as other factors such as road access, and the suburb profile to ensure you are making a low risk investment, having the option to choose designs does offer more flexibility.

An untapped market of tenants

Many of us will have lived in a shared house with messy or loud flatmates at some point. It is understandable then, that there is huge demand for one bedroom apartments at a lower weekly cost than renting a 2-3 bedroom home. Students, singles, couples, professionals who work long hours. In many cases privacy is greatly preferred over sharing space with friends, family, or strangers.

Let’s not forget families caring for older relatives- they can live in one side and have their family members in the other. Couples with adult children. Siblings. Friends. Living side by side but with complete privacy.

All in all the reasons for choosing a dual occupancy home instead of a duplex are compelling, but will of course depend on your individual situation. Speak to your own financial advisor and work out which option is best for you and your circumstances.

You can view our current duplex and dual key listings here >>