What Is the Difference Between Dual Occupancy and a Duplex?
A dual occupancy and duplex property are closely related. However, they have one main difference. The dual occupancy property was a project started in Melbourne in 1981. Thereafter the territories picked up the practice.
Dual occupancy properties live on one land title. It is two separate homes that are attached or detached from each other. In some cases, it’s possible to spin off one of the properties into its own title.
A duplex, on the other hand, is not a free-standing property. The duplex has two dwellings but one sits on top of the other. It’s not possible to spin one off from the other into a separate title.
Both properties make good investments. In addition, both are good investments for owner-occupiers. An owner can purchase both units and live in one. Then it’s possible to rent out the second unit and reap the stream of rental income. Professional investors prefer to fill both units with tenants.
When you need financing for a duplex or dual occupancy project, contact Mortgage House. As a non-bank lender, we place a focus on working with investors and owner-occupiers.
Once you become a Mortgage House client, you receive access to the rest of our loan products including the business loan.
Dual Occupancy and Duplex Conclusion
Professionals interested in investing in dual occupancy and duplex property can contact Mortgage House to review potential financing options. Our loan specialists will dive into the specifics of the property. Then your financials. Our team puts together a plan and a competitive loan offer based on their findings.