Building a DualOcc development is an appealing option. Subdividing a big Australian block and putting two or more new homes on it may maximise your earning potential and give you greater flexibility.
While the benefits are clear, there are many details to take into account when considering if a dual occupancy development is the right option for you. We spoke to our resident expert Jarrod Sturdy, Sales & Business Manager for DualOcc By Metricon, to get his advice:
Why would I consider building a DualOcc development?
"Our customers consider dual occupancy homes for many different reasons. Here are the most common ones I've come across."
- Downsizing – when their current house is too big for them, they may be better suited to a townhouse
- Family – with house and land prices increasing, they can build a second home for loved ones
- Flexibility – they can build a smaller dwelling on their own land and live in it while adding additional properties
- Investment – DualOcc might unlock a significant return on investment, whether on-selling or through rental yields
- Location – while new estates are affordable, appealing options for many, some are a long way from the city. DualOcc allows them to stay in their current location (if they already own the land) or move somewhere more central
Who should consider a DualOcc development?
"DualOcc options are suited to people at all stages of life, from empty-nesters to investors, retirees to young families, couples and singles. We have DualOcc homes available to fit everyone's requirements."
What type of DualOcc is right for me?
"There are, essentially, two DualOcc options – side-by-side or stand-alone. But there are several variables when it comes to house size, floorplans, design, fixtures and fittings. There's a solution for most locations and land size."
What you plan to do with your development – live in, sell or rent – will impact on the design options available to you.
"What are your development objectives? For instance, tiled floors are better for rental houses, because they are easier to maintain. If you're planning on living in your DualOcc, consider your lifestyle first. Will you be living alone, with a partner or with family? How much privacy do you need? Are you building to downsize?"
Is building a DualOcc a good option on a block of land I already own?
"In most cases, embarking on a knockdown rebuild on your current block is a good idea. The equity unlocked in the land might be used to cover the cost of building, minimising the capital requirement.
Again, there are many variables to consider. It's essential to do your homework and understand if council planning rules will allow you to build a DualOcc on your land. You also need to take into account the surrounding homes and recent sale prices."
Should I seek advice from an expert?
"One of the common mistakes I see tripping people up is not getting the right advice early in the planning process. There are a lot of intricacies associated with a DualOcc build and, if you're not familiar with them, you can waste a lot of time and money.
"DualOcc By Metricon guides you through the best outcomes. We've had over 750 DualOcc planning applications approved in Victoria alone since first offering this option."
What are the first steps to take if I’m considering a DualOcc?
“Here’s my handy checklist to make sure you’re on the right path from the beginning."
- Be very clear about what you’re hoping to achieve from a DualOcc development
- Get the right advice early
- Choose a trusted builder that offers structural guarantees, value for money and quality, and experience in building DualOcc dwellings
- Understand planning schemes and zoning in your area.
- Be flexible with your design choice. Remember that council rules and regulations will determine what you can and can’t build, so you may need to compromise
- Work with a builder to understand accurate development costs before the planning process
I'm interested. How do I find out more about DualOcc?
"Metricon hosts regular BuildSmart Workshops, with speakers ranging from satisfied customers to town planning experts. These workshops are a great source of dual occupancy design inspiration, property development information and dual occupancy project feasibility. Our Development Specialists will answer any questions you might have about the planning and building process."
Visit our website for more information about DualOcc by Metricon and sign up to our DualOcc newsletter. Metricon builds homes in Melbourne, Sydney, Brisbane and Adelaide, and regional hubs throughout South Australia, Victoria, New South Wales and Queensland.