What Is Detached Dual Occupancy?
Dual occupancy properties exist throughout Australia. Some are considered attached and the others detached. In terms of value and desirability, both pose a set of positive attributes. The rest is preference.
A detached dual occupancy property features two separate dwellings on one piece of land under the same title. Moreover, the two dwellings do not share a wall. Some homeowners prefer the detached feature because it offers greater privacy. For investors, it’s a great selling point for potential tenants.
Dual occupancy properties have several uses. An investor can rent both properties to two different tenants. In essence, this doubles the income potential. Savvy owner-occupiers can live in one dwelling and rent out the second one. This helps them pay off the home loan on the property quickly too.
In a third scenario, a homeowner purchases the detached property and uses both dwellings for their family. It allows for privacy but it keeps everyone together.
The features of property impact the financing. Mortgage House works with clients who aim to finance a detached dual occupancy property. Based on the intended use, our loan specialists can offer financing options that help the applicant achieve their goals, including refinancing their home loan.
Detached Dual Occupancy Conclusion
The distinguishing property features such as a detached dual occupancy property are important for financial, legal, and tax purposes. Mortgage House finances these projects and purposes. Whether you plan to live there or use it as an investment. property, contact our loan specialists to obtain more information.