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dual occupancy

Discussion in 'General Property Chat' started by Drunkanbarbarian, 17th Oct, 2016.

  1. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

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    Can you give me a dual occupancy property examples
    Is a ip with a grannyflat at the back considered dual occupancy ?
    Cheers
     
  2. RetireRich101

    RetireRich101 Well-Known Member

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    yes, a granny flat at the back of an existing dwelling is considered a dual occupancy.
    NSW - max 60m2
    WA - max 70m2
    QLD - specific to council. some allow some don't, and size could vary from 50m2 to 100m2 depending on council.

    the granny flat can be attached to existing dwelling, or detached.

    for new build.. I found this site give you quick overview What is Dual Occupancy
     
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  3. hash_investor

    hash_investor Well-Known Member

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    Plenty of properties with yields are still available in QLD in dual occ. They even have some properties with both entries on opposite sides but quite rare. Thats almost two independent homes.
     
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  4. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

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    Yeah i read marsden has some land like that with a entry on each street
     
  5. +men

    +men Well-Known Member

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    google search blue gum drive marsden
     
  6. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

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    I just had a look , pretty nice potential. Do u own anything on that street ?
     
  7. RetireRich101

    RetireRich101 Well-Known Member

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    Just be careful that some of the dual income new builds the bank valuation may not stack up.
    for example purchase price is 500k, but bank valuation comes back at 450k...
    For the investors at later stage of acquisition/consolidation or SMSF that don't need to go aggressive on the LVR or someone who has a bigger than 20% deposit, it might not be a big concern.
     
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  8. hash_investor

    hash_investor Well-Known Member

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    And what is the reason for that ?