With a growing population and increasing stress on available real estate, multi-unit housing development projects have experienced a significant boom in recent years. Queenslanders are now realizing the potential of their undeveloped land or extra yard space, converting them into profitable investments by building attractive living spaces.
If you're considering investing in real estate, here's why you should seriously consider dual occupancy homes:
Rental Income Potential: By constructing a duplex or triplex on your land, you can double or even triple your rental income streams. Building multiple housing units on your property can increase the overall rental income by an impressive 30 to 70%, compared to having a single-family home. An accessory dwelling unit attached to or detached from your home can attract families or groups of students seeking independent living facilities, ensuring a steady flow of rental income.
Increased Property Value: Properties with multiple units appeal to buyers looking for increased revenue potential. Owning a property that can accommodate multiple groups of tenants offers a lucrative opportunity to generate more income. With rising housing prices, prospective buyers are increasingly interested in properties that can not only serve as a home but also supplement their livelihood with rental income from additional dwellings. Real estate options with dual occupancy are perfect for such astute investors.
Savings on Stamp Duty: Properties with additional units also offer financial benefits. When building new multi-unit dwellings on your land, you only need to pay stamp duty for the land portion. This is a government initiative aimed at promoting more living units for families and students on a single property. Dual occupancies are an attractive option for international students seeking affordable living spaces in urban and suburban areas. Many Australian residents are leveraging these stamp duty savings to earn higher rental incomes.
Accommodating Extended Families: In today's world, people prefer having their elderly parents or other aging relatives living close to their homes. This not only provides parental support for younger family members but also ensures better care for the elderly. The rising popularity of beautiful granny flats, located close to many houses today, is a testament to this trend. Homes with accessory apartments that can accommodate elderly family members are increasingly sought after in the current market.
At Integrity New Homes Toowoomba, we boast extensive experience and expertise in developing multi-unit buildings and remodeling existing homes to include separate units for rental purposes or to house friends and family members. Our commitment to quality and customer satisfaction is evident in every project we undertake - we call this the "Integrity Edge."
Whether you're looking for a custom-designed duplex, triplex, or dual occupancy to suit your block and budget or wish to explore our Design Library for plans you'll love, contact us today. At Integrity New Homes, we strive to provide the best products and services for our clients, ensuring your investment dreams become a reality.
