Colin Fragar, our founder and CEO, discusses the benefits of a dual occupancy.
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Or for those that prefer to read, here is a transcript of the video…
So, what is a dual occupancy and how can you benefit? My name is Colin Fragar from Council Approval Group.
A dual occupancy needs to be distinguished from a few other development types. One, being a granny flat or a secondary dwelling.
Dual Occupancy vs Granny Flat
A granny flat or a secondary dwelling is actually smaller than dual occupancy. So one of the main reasons I love dual occupancy is you can get a larger dwelling. Often that can literally mean hundreds of thousands of dollars worth of profit for you.Another difference between a dual occupancy and a granny flat is that you can, in some situations, subdivide a dual occupancy. This means (you guessed it) you can separate the title and sell off one, reduce your mortgage and keep the other one as a positive cash flow investment. You can’t do that with a granny flat or a secondary dwelling.
Dual Occupancy vs Townhouse
Dual occupancy is not a townhouse or multi-unit housing, where you have more than two dwellings and strata title them in a large development type. A dual occupancy can be a duplex but don’t get confused with the term duplex. You really want to be looking at that term dual occupancy. Dual occupancy is the town planning term used in most local government schemes. Usually, you can’t find duplex written in them depending on where you are in Australia.Benefits
So how can you benefit from a dual occupancy housing project on your site? You really are maximising the highest and best use for a standard residential allotment. You can usually do a dual occupancy development on standard residential zoning, low density usually, depends on where you are, whereas the medium density zoning is needed for townhouses, and it is much better than a granny flat.So make sure, if you want more details on this, you go and grab your guide now. What’s in here is a whole bunch more details and ideas around dual occupancy.
Alternatively, if you want to talk to somebody in person, you have a site, for example, and you want to explore whether it’s possible for what you’re thinking, please go to councilapproval.com.au and book in your free consultation with one of our council approval team.