A great way to supply this demanding market is through the option of providing dual living properties, which make financial sense for investors. PD Smart Homes will out dual living in turbo-charge mode, offering 4 income streams from one property.
Dual living properties are shinning through as one of the leading choices in property investment, so let’s have a look at the facts. Generally, we know that families still really prefer houses, and there is not a huge demand for families requiring apartments and units because they generally go for houses for the space and also the yard.
If you wanted to attract a family I think you would need at least 3 + bedrooms in an apartment to even get a shoe-in. I can certainly elaborate on this with the information and statistics we are seeing here in Australia. Something that is becoming quite popular at the moment is the dual occupancy properties. We find that people are looking for more of these for the extended family or older children that want a bit of freedom, these are also really great investment properties as they generally generate a higher income than your standard rental property with a fairly reasonable outlay.
With the cost of living at an all time high, housing prices for entry into the property market are very high and incomes are still not matching up. Families are looking for ways to save money on housing costs. A great way to supply this demanding market is through the option of providing dual living properties. These are infiltrating the market from developers at present and investor’s eyes are popping as the numbers stack up.
So the advantage for investors is that they can get a higher rental return on these investments as you are leasing them out as two separate dwellings, and you can also reap the rewards for your tenants with those extended families that need to live together saving on costs. Another option is that the investor might want to live in one part and get a rental return on the other part to assist with costs. These are just some of the really cool solutions that dual occupancy properties are offering.
With some of these properties offering an affordable solution and a gross rental return of around 8% that’s a pretty good reason to consider dual living.
1. Get more investors investing in these types of properties because of the returns.
2. Get managing more of these properties as it offers an affordable housing solution for your tenants
3. Higher rent ability reducing vacancies on your rental return.
4. Dual occupancy properties still offer all the creature comforts of a home but in a smaller package and co-joined with another.
This is where we see apartments fail in meeting the demand from families or extended families, as children still like to play outside, pets are still pretty popular here with families and we are still in a world where the outdoors is enjoyed. It makes sense that dual living properties are becoming a favourite.
LORETTA MORGAN The Real Estate Conversation
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