The last year has provided ample time for reflection – to say the least – and many Australians have used the Coronavirus lockdown as a chance to hone in on their future financial goals and create a sense of comfort and security for their families.
There is no doubt that one of the best financial decisions to make is that of owning a home. Recently, there has been a surge in the number of couples and families who have chosen to build not one, but two homes, in order to maximise their investment and reap the monetary rewards.
The building of two (or more) dwellings on one block of land is known as Dual Occupancy (DualOcc). While such a development brings with it numerous benefits, it goes beyond simply financial gain.
Here are four reasons why a DualOcc development is worth considering, not just for your pocket, but also for the health and well-being of your family.
1. Make the most out of your land
You don’t need to sacrifice location just to build a dual dwelling. If you already own a home in a neighbourhood you love, Metricon has a Knock Down Rebuild service so you can knock down your existing house and build a stunning, modern DualOcc in its place. Live in one home and rent/sell the second to help mitigate the mortgage, or keep family members nearby in the alternate dwelling. It really is a case of having your cake and eating it too.
2. Generate revenue
There is no denying the last several months have created intense financial strain for many Australians. For those in a position to do so, investing in a DualOcc development can provide an opportunity to generate profit through the making of more income from a single land title. Sell or rent one home while you live in the other, or sell both off. There are numerous options to suit your individual circumstances.
3. Creating a village
Many extended families decide to opt for a DualOcc development because it allows them to stay within close proximity to each other, offering support, care and love whenever it is needed. Whether it is adult siblings and their respective children living side-by-side, grandparents residing next to their grandkids, or elderly parents moving next door to their adult children, a double-dwelling really can create a village that will benefit all, physically, financially and emotionally.
4. A secure space for adult children
Many adult children are opting to stay close by to their parents as they study, work and find their feet in the world. A dual occupancy home caters for privacy and space while providing older children with a leg-up into the property market.
As one of the largest volume builders, DualOcc by Metricon has been providing multi-dwelling developments for more than a decade. With the option to choose freestanding homes or flexible duplexes and a huge range of designs, the company’s dual occupancy developments are functional and offer outstanding value for money. More so than that, they provide homeowners with the option of generating revenue while creating a space that is comfortable and secure for their families and loved ones.