08 Jun 2022

What is dual occupancy? – What is the difference between dual occupancy and secondary dwelling?

Full Doc Home Loans

Dual occupancy homes are one of a kind. It is important to consider the similarities and the differences between a dual occupancy residency and a secondary dwelling. Mortgage House experts are ready to assist and provide information about both types of properties for home buyers and investors.

Dual occupancy is a residential property that is divided into two families or independent parties. Sometimes, the entire home is an open space. However, the yard and the front doors are different. Other times, these properties share common spaces like the kitchen, backyard, or living room.

A secondary dwelling is also referred to as a granny flat. It is an extension of a home or a smaller home built on the same land. Secondary dwellings are typically constructed for homebuyers that are constructing a home. These granny flats are great options for those looking to generate monthly income while also having control of the property since it is on their land.

The home loan to purchase both dual occupancy and a secondary dwelling depend. Most of the time, though, talking to a Mortgage House home loan specialist can make the process go smoother.

Dual Occupancy vs Secondary Dwelling Conclusion

Overall, dual occupancy properties are comfortable and a great choice for home buyers that have large families. Inventors can make money from both dual occupancy homes and secondary dwellings. However, the state and community do require permission before building both on residential land. Need assistance in deciding between a dual occupancy home and a secondary dwelling? Constant a Mortgage House expert today!

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