dual occupancy

Discussion in 'Development' started by Drunkanbarbarian, 17th Oct, 2016.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

    Joined:
    17th Aug, 2016
    Posts:
    58
    Location:
    Sydney
    Can you give me a dual occupancy property examples
    Is a ip with a grannyflat at the back considered dual occupancy ?
    Cheers
     
    Drunkanbarbarian, 17th Oct, 2016
    #1
  2. RetireRich101

    RetireRich101 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,149
    Location:
    Sydney
    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
     
    RetireRich101, 17th Oct, 2016
    #2
    Drunkanbarbarian and Perthguy like this.
  3. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    2,440
    Location:
    Sydney / Canberra
    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.
     
    hash_investor, 17th Oct, 2016
    #3
    Drunkanbarbarian and Colin Rice like this.
  4. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

    Joined:
    17th Aug, 2016
    Posts:
    58
    Location:
    Sydney
    Yeah i read marsden has some land like that with a entry on each street
     
    Drunkanbarbarian, 18th Oct, 2016
    #4
  5. +men

    +men Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    152
    Location:
    Sydney
    google search blue gum drive marsden
     
    +men, 18th Oct, 2016
    #5
  6. Drunkanbarbarian

    Drunkanbarbarian Well-Known Member

    Joined:
    17th Aug, 2016
    Posts:
    58
    Location:
    Sydney
    I just had a look , pretty nice potential. Do u own anything on that street ?
     
    Drunkanbarbarian, 18th Oct, 2016
    #6
  7. RetireRich101

    RetireRich101 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,149
    Location:
    Sydney
    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.
     
    RetireRich101, 18th Oct, 2016
    #7
    Sackie likes this.
  8. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    2,440
    Location:
    Sydney / Canberra
    And what is the reason for that ?
     
    hash_investor, 18th Oct, 2016
    #8