One of the fastest-growing trends in home development in Australia for quite a few years now is the popularity of dual occupancy homes.
Partially it’s being driven by sharply rising property prices and huge demand to live in suburban neighbourhoods of some of our major cities, but it’s also due to a rise in demand for rental units that are manageably small but still a little larger than the four walls of an apartment unit in a CBD, for example.
While dual occupancy homes are an incredible investment for various reasons, they’re often compared – rightly or wrongly – to granny flats.Granny flats have traditionally been quite popular for housing relatives, but they aren’t quite the same as a dual occupancy home. If you’ve got a family looking for a place to call home, which of these living arrangements is best for you and your beloved family members?
Advantages & Disadvantages of Granny Flats
Granny flats are, in simple terms, habitable sheds or secondary dwellings on the same property as your primary residence. Since it sits on the same legal plot of land, building a granny flat can be a lot simpler and faster to erect than a dual occupancy home. Conversely, planning permissions may be required and the red tape to have a granny flat can be quite a bit more frustrating and limiting than expected, depending on your local council authorities.
Where appropriate, however, granny flats can be considerably cheaper to build since there is no subdivision required and permissions, once obtained, usually mean a shorter delay between planning and getting to work.
On the other hand, granny flats tend to be necessarily much smaller and you may be prohibited from renting the unit to someone not in your family. Moreover, if you ever intend to sell or transfer the property, matters can quickly become a lot more complicated if there’s a granny flat there.
Advantages & Disadvantages of Dual Occupancy Homes
Dual occupancy homes are nearly always built on two separate plots of land adjacent to one another. Typically, this land was previously one plot that required subdivision, so immediately that creates a little more bureaucratic work at the beginning. Consequently, the development costs may be higher due to all of the additional planning required, although a lot of this is frontloaded and once you’ve been granted permission to develop it’s off to the races.
Despite the additional preparatory work, dual occupancy homes do present unique benefits not available to granny flats. For instance, both properties are separate legally and one or both can be sold, one or both can be rented to tenants, and there tends to be a lot more in terms of building possibilities.
Granny Flats vs Dual Occupancy Homes: Which is Better for Your Family?
Both granny flats and dual occupancy homes can be ideal for families, depending on your living circumstances. If you have an aged family member or perhaps want a separate unit for your children as they grow up, a granny flat can be a convenient additional living space that offers some privacy and proximity to family.
Dual occupancy homes, on the other hand, can be excellent for investors looking to rent one or both units. That doesn’t mean they aren’t ideal for families, however. A dual occupancy home can be an excellent place for smaller families, which many Australians are having nowadays. Depending on the construction and design, there may be plenty of space for one or two children to play and have a little privacy.
What makes dual occupancy homes great as a long-term investment for families, however, is that the second unit can be rented to a non-family member tenant as you please, generating income whilst you live in the other unit with your family members.
At Trevor Homes, we proudly offer expert building services across Melbourne, including builders in Albion, where quality craftsmanship meets innovation. Our team also specializes as reliable builders in Altona, delivering outstanding results tailored to your needs. For premium solutions, our trusted builders in Ascot Vale and experienced builders in Aspendale ensure every project is completed to perfection.
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