Hi all im looking into dual occupancy and I thought there is no better place to ask about them.. So to any of you that may have a d/o property or are thinking of building/ buying one what do I need to lookout for or what bits of timely information do you have about such a purchase?
dual occupancy?
- Thread starter wilkie0611
- Start date
Are you talking about in WA? Because its not really a thing here.
There are different ways to achieve the same outcome though, like granny flat developments.
Not necessarily im quite happy to build a property like this interstate.
Obviously, it will depend on the area. My PPOR is a dual occ (Eastern Suburbs, VIC). Talking the council is really handy as they can give you specific requirements if you are thinking of subdividing a full block.
You need to look at the Council requirements for constructing a dual occupancy development in the region where you intend to build.
Some lenders consider the rental income that will be generated on completion when calculating your serviceability and this is another benefit of multiple dwelling developments.
Some lenders consider the rental income that will be generated on completion when calculating your serviceability and this is another benefit of multiple dwelling developments.
thanks all for the information please keep it coming
I'm saying you can do something like this through the granny flat provisions of the Rcodes.
How much do you know about the Rcodes and subdivision requirements in WA? I would suggest starting there if you want to learn about how to do "dual occupancy" in WA.
Sometimes you can have a dual occupancy within an existing dwelling http://www.randw.com.au/1697026/
Dual occupancy g/flats - great for cash flow.
Just a few thoughts, not sure how much equity you can access from g/flats, I have had mixed feedback on this, so I would research, as I would not want to be pumping $100K cash for g/flat and not able to access 80% on completion.
If you are looking at cash flow and perhaps with more upside I would also consider properties where you can retain the front and build new product at the rear. For example $200K build at rear will provide a decent size home in Perth with minimum rent of at least $450 pw, I have not included all costs of course, you would need to do further homework.
This strategy will give you many more options, sell rear, sell front, hold both - access equity and cash flow positive.
I expect this would be also be easier to access equity.
MTR
Just a few thoughts, not sure how much equity you can access from g/flats, I have had mixed feedback on this, so I would research, as I would not want to be pumping $100K cash for g/flat and not able to access 80% on completion.
If you are looking at cash flow and perhaps with more upside I would also consider properties where you can retain the front and build new product at the rear. For example $200K build at rear will provide a decent size home in Perth with minimum rent of at least $450 pw, I have not included all costs of course, you would need to do further homework.
This strategy will give you many more options, sell rear, sell front, hold both - access equity and cash flow positive.
I expect this would be also be easier to access equity.
MTR
Here's a couple of nice looking examples
Hi RW
These look very slick, are these dual keys available in Perth??
Haha bl nice one but 1.3 mil is a little outside of the price range I where looking at