As the cost of living continues to rise and land in sought after suburbs become scarcer, more Australians are looking to maximise their existing land holdings. For savvy investors and mum-and-dad developers, the ability to build two homes for the price of one is an attractive proposition. Metricon has answered this desire with the development of its Dual Occupancy (DualOcc) range of homes. DualOcc involves the subdivision of land to build two or more homes on a single block.
A dual occupancy development is a versatile investment, as it gives you the option to live in one, sell one, rent one, rent both or even sell both. It is this flexibility that makes DualOcc developments so appealing to people at all different stages of the real estate cycle. If you’re downsizing, a DualOcc property allows you to stay in a neighbourhood you love, but in a more manageable property. If you are looking for your first home, a DualOcc provides a cost effective option for entering the property market, particularly in highly sought-after suburbs. If you are ready to tackle your first investment, a DualOcc offers a great way to generate revenue and offset your mortgage.
Before we take a walk through some of the DualOcc by Metricon
designs, let’s briefly look at why you might consider building a Dual
Occupancy home.
Reasons to consider building a Dual Occupancy home
There are a number of reasons to consider a DualOcc development:
1. To maximise land you already own
If you have an existing home in an area you love, but your living situation is changing, you may consider DualOcc by Metricon for your Knock Down Rebuild. Whether it’s accommodating extra family members, or downsizing, DualOcc provides you with choices. You might choose to live in one of the homes and sell off the second to pay down your mortgage, or invest elsewhere. Or you might choose to build a second home to keep family members nearby.
2. To look out for your parents
Retirement homes are in short supply around the country, and can also be extremely costly, so we’re seeing a rise in the numbers of elderly moving in with their adult children. A dual occupancy home gives everyone the space and peace of mind required at this often-emotional time. Elderly parents have their independence and comfort but with the safety and knowledge that their family is right next to them.
3. To accommodate adult children
At the other end of the spectrum is the growing trend for young adults to stay at home with their parents for longer than ever before. A dual occupancy home offers a great option for space and privacy – for all of you! It’s a great way to give older children a much-needed leg up into the property market and help them achieve their much-craved independence while still keeping them close by. As your children grow and start their own families, grandparent support can also be a key driver in choosing a DualOcc solution.
4. To generate revenue
DualOcc developments offer a real opportunity for profit by making more income from a single land title. Whether you choose to knock down your existing home then rebuild and sell off one (or more) of the dwellings, or whether you buy land specifically to develop on, a DualOcc development offers excellent potential to generate income.
Meet the Grange and the Sutherland in Kellyville
Now that you’re sold on the idea that a DualOcc home is the next best step for you, it’s time to decide on the design. Metricon has a number of designs, with varying facades and floorplans, all intended to maximise your land and offer contemporary living spaces for the whole family. Our latest display in Kellyville, NSW, is a DualOcc solution featuring two of Metricon’s classic DualOcc designs, the Grange and the Sutherland. Seeing the properties side by side will help you visualise what’s possible from a DualOcc development perspective.
The Grange
The Grange features two modern, spacious, double storey homes, available in 3 bedrooms plus study nook or 4 bedrooms plus a full study. There’s plenty of living and entertaining space, with the Grange 24 offering an additional upstairs leisure area – perfect for older teens or adult children. You can choose from three different floorplans, depending on the width of your block and whether you prefer the main bedroom at the front or rear of the home. All floorplans offer a downstairs powder room for convenience – excellent for entertaining!
There are 5 beautiful facades to select from, catering to all tastes; everything from the Hamptons-inspired gabled Yale through to the asymmetrical contemporary Kingston and the modernist Urban.
The Sutherland
The Sutherland also offers three floorplans, two of which have 4 substantial bedrooms on the second floor, plus a study and two separate living areas on the ground floor. There is ample storage throughout the duplex design and for the foodies, the bonus of a walk-in pantry!
This contemporary design comes with a choice of 7 different facades, from the rather imposing Ascent to the highly modern Metro. You’ll be spoilt for choice when it comes to creating the stylish, yet practical home of your dreams.
Embrace the next phase of your life, whether that means inviting your elderly parents back home, making space to live more harmoniously with adult children, or maximising the potential of your land. A dual occupancy home design, such as the Grange or the Sutherland, offers elegant and contemporary living for your next step.
