You love your neighbourhood, but the home you purchased a while back is now worth a small fortune, and you are wondering how on earth to release some of that well-deserved growth in capital value without having to sell up and move. Redeveloping your block with one of the many dual occupancy home designs available today is a great idea to consider.
Dual occupancy is simply that: more than one home on a block. As you look around your suburb you have probably seen other people demolishing their existing home and putting two or more new home designs there, or just adding one or more homes to a block while maintaining the original home.
But you might have thought it was complicated, or too expensive only the domain of professional home builders or developers. But in fact, dual occupancy is encouraged by State Governments who would like to see home density in our cities slightly increased, dual occupancy is well within the reach of many households.
Many new home builders have now created specialist dual occupancy, multiple house plans to suit most suburban blocks, and specialist salespeople to advise those who are considering this simple, wealth-generating idea.
They can advise you on what the local Council will expect, how many homes your block can properly support, likely costs, and even how to get an existing property demolished. The better builders will also offer a free site survey to give you an idea of whats possible, before you commit to anything.
So have a good look at your land, and have a think about your lifestyle needs. Its ironic, but sometimes lifes best investment opportunities are right under our noses!
Dont need that huge garden anymore? Well, maybe you can add a home or two and sell them at a considerable profit, or rent them out tax efficiently to create an income stream for now, and for your retirement? Maybe your adult children would like to stay near the home they grew up in, but have a place of their own?
The possibilities are endless, and theres no risk in finding out whats possible. Just put your thinking cap on, and get some good advice from reputable builders who can offer you professional service and reasonable prices.