NEW DUEL OCCUPANCY WHAT ARE THEY?

Package Description

• Two homes on one block: A dual occupancy means building two separate dwellings on a single parcel of land.
• Types:
  • Attached: Like a duplex, sharing a wall.
  • Detached: Two standalone homes, side-by-side or front-and-rear.
• Not a subdivision by default: Both homes can be owned together unless subdivided (which requires council approval).
• Each home is self-contained: Separate kitchens, bathrooms, entrances, and utilities.

Financial Benefits in Victoria

• Rental income: Live in one, rent the other — or rent both for dual income streams.
• Equity growth: Two dwellings can increase the overall property value significantly.
• Sell one, keep one: If subdivided, you can sell one home to reduce debt or reinvest.
• Tax advantages: Potential depreciation claims and deductions (consult a tax advisor).
• Faster mortgage payoff: Rental income can help pay down your loan quicker.
• Super fund potential: Some investors use SMSFs to finance dual occupancy builds.

Example Design on a 600m² Allotment

Assuming council approval and no restrictive overlays:

• Front dwelling:
  • 3-bedroom, 2-bathroom home
  • Street-facing with driveway and garage
• Rear dwelling:
  • 2-bedroom, 1-bathroom unit
  • Private access via side driveway
  • Compact footprint with courtyard

Key design features:

• Separate entrances and outdoor spaces
• Shared services (e.g. water, sewer) but separate meters
• Compliant setbacks and open space as per VC267 planning code

Please note this information may have been created using AI all information requires your own due diligence and professional advice.