Any loopholes with Dual Keys? What builder to use?

Hey guys,

Question 1) Just wondering if there are any loopholes with dual keys to make them larger? I believe you can have a house and then an auxiliary dwelling (attached) but it has to be max. 70sqm of living space.

Are there any loopholes to legally make the auxiliary unit larger? Perhaps a large alfresco area that can be enclosed and be used for more living space?

If anyone has any good plans I'd love to see them.

Question 2) Also, I'm wondering whether to use a small, medium or large builder for my dual key in Marsden and duplex in Ipswich. I was planning on getting my architect to draw up plans and then get a few builders to tender on it.. Is this the best way to do it?

Question 3) Can anyone recommend builders in QLD that are good to deal with, trustworthy, capable and well-priced for a rental quality home?

Cheers

 

hi @Jmillar

I see that your queries remained unanswered here. How did you go with your project? I am thinking about something similar in Brisbane.

Thanks,
GH

 

Ipswich scaled down the size of aux units 50m2 and I believe you can only have 1 bedroom.
How big is the land in Logan?

 

@RetireRich101 - I see you have a lot of experience in dual occupancy. Recently I sought advice from a financial adviser, who was promoting 400 m2 dual occupancy IP in New Castle area, but more on the outer side of the town. While I love the idea of dual income, I have a few concerns
- the construction seems a bit expensive @400k compared to what I would expect
- I am more interested in capital gain than rental income, and I am not sure New Castle would be competitive with let's say, Brisbane
- all I learned about property investing so far was that a good location with amenities (closer to the city) works out better for renting and capital growth as well
- does it make the selling harder if the IP is a dual key at later stages?
Can you please share your thoughts? I am keen to move, but not sure if I am set for success with this strategy.

 

Not sure what the size of the floor plans, finish etc but 400k for a main+GF ( assumed attached) on a 400m2 land seem bit expensive. If 60% gross floor space means the total size for main + GF is 240m2..this means $1500 per SQM construction cost.

I would stay 'inside' Newcastle area..as outside Newcastle, PM are still foreign to the concept of GF.

Euro73 is resident guru in new dual occ builds. I prefer type buy larger land with old house and either subdivide backyard, build secondary dwelling with the view that I can strata title the new build. Keep new build, sell the old to pay down debt.

 

Thanks for your thoughts. Could you recommend somebody in Brisbane area who can facilitate a similar deal? I am well aware of the knowledge gap here

 

It's all relative to your budget. once you decide where you put your coin in, you have to believe it will do well in the medium and long term. Me thinks Newcastle is doing well at the moment, probably peaking soon..It may not be a good idea to build now unless you're doing a flip in the next 1-3 years.... Often new builds get hit the most in a down fall market.

There are few Buyer's Agent here in this forum you can engage. I have never used a BA, like to get hands on.
Unlike Sydney, Brisbane only have few councils. BCC, MBRC, Logan Council, Ipswich Council, Redland Council.

 

$1500 per m2 isnt too bad for NSW
thats around what im building here for a single storey 4/2/1

 

If you need a bigger loophole, use a drill with a metal/high speed bit.

 

Last time I did the ring around a few weeks back seems dual keys are limited to an 80% lend so will need a decent deposit.