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4 Reasons Why Dual Occupancy Homes are a Great Investment in 2022

4 Reasons Why Dual Occupancy Homes are a Great Investment in 2022

Is it worth investing in a dual occupancy home in 2022? The short answer is yes! If you’re considering an investment in real estate in Victoria, there are simply so many benefits to going with dual occupancy, so let’s have a look at four reasons why:

01. Big Passive Income Opportunities

To be clear, renting out property isn’t always as ‘passive’ as some would have you believe. Even with good long-term tenants, there will always be the need for repairs and maintenance, whether you do them yourself or you have to arrange for contractors to come by. Nevertheless, pulling in a few thousand dollaridoos month after month can be far more laborious with many other types of employment, so it’s fair to say that it’s ‘sort of’ a passive income in comparison.

Is the market good right now for letting in Victoria? We’ve analysed the 2021 market for Victoria in a previous blog post, so you be the judge. We believe that it’s a great time to be renting out dual occupancy units, with great income potential now and for the foreseeable future.

02. Big Investment for the Future

This can be said about many other types of residential real estate. The best time to buy land in Australia would have been a decade ago, but that ship has sailed for many of the millennials now getting on the property ladder (or at least trying to). This means that the second best time to buy land is right now, or at least in the near future rather than another decade down the road.

The pandemic has taught us all a lesson or two, surely, but it’s also highlighted the real estate market’s elasticity in Australia. Pandemic or no pandemic, property ownership has proven itself to be a safe bet in an uncertain world.

There is one caveat to note, however, and that has to do with new builds. Building material prices and labour have skyrocketed since 2021, so the cost of a brand new dual occupancy home will most certainly be higher now going forwards. Nevertheless, the property value will most likely steadily appreciate so long as Australia remains a popular and hot market for real estate by foreign and domestic buyers.

03. Big Reselling Potential

Tied in with the previous point, owning a dual occupancy home offers great potential for resale. Whether you intend to purchase a dual occupancy home for the long haul, perhaps living in one of the units and renting out the other, or you are an investor looking to ‘flip’ one or both properties soon after construction, the potential for resale is very good given the demand for dual occupancy units.

04. Big Possibilities & Flexibility

Want a cosy place to call home with a side property for your children while they save up for their own home? Want a relaxing home for your elderly parents or grandparents and some physical separation for some privacy? Want TWO rental properties instead of just ONE?

Few types of residential property offer the same amount of flexibility and possibilities as a dual occupancy home. Dream it, build it, design it just how you want it by choosing a reputable company that specialises in dual occupancy homes.

Trevor Homes

Dream, design, and build your perfect dual occupancy home with the team at Trevor Homes.

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