What is dual occupancy? – What is the difference between dual occupancy and duplex?
Although dual occupancy residential homes and duplexes are similar, they also have more differences than similarities. A duplex is more private, while a dual occupancy differs depending on the owner and the design of the home.
First, let’s find out what a dual occupancy home is. From what we know, a dual occupancy home is a property that has two or more residents living in the home. Typically, the residents are independent of each other. However, it is common to see extended families living together in dual occupancy homes. These homes often share communal spaces. However, the entrances are different.
Duplexes are different from dual occupancy homes because they are more strict. Typically, a duplex has two families living on the same property, but everything is separated. Think of really close homes in a neighbourhood. However, they are attached and separated by one wall.
When living in a duplex, the investor has many options. They can either rent out both units as they have separate building titles or live in one unit while renting out the next. The possibilities for investing and passive income are endless when it comes to taking out a loan to buy a dual occupancy home and duplex.
Dual Occupancy vs Duplex Conclusion
All in all, a dual occupancy home is comfortable. However, the definition is light. As long as two independent parties share a home, regardless if there are communal spaces or not, this is a dual occupancy. However, a duplex is more independent. The residents do not share anything except for a divided wall. Mortgage House experts are ready to discuss lending options with you; give them a call!