HI Everyone, Just Seeking Opinion on Dual Occupancy Homes

d-hunterz on 13/04/2016 - 11:34

Hello everyone,
Just wondering if there is someone here at Ozbargain who lives or lived in a dual occupancy property?

Home & Garden

Comments

  • BadGiraffe on 13/04/2016 - 11:49
    +1

    Like… a share house?

  • geek001 on 13/04/2016 - 11:56
    +1

    I have seen one if it helps? Did you want to know if it is a good investment or what it is like living in one?

    • d-hunterz on 13/04/2016 - 13:07

      Yes please!

      As its two of us families, very close knit and we are actively looking to buy two properties as close as possible so some one came up with the option of "dual occupancy" and I have not seen one in my life so just wondering if its any worth i.e if you save some money doing this like rates or something?

      • geek001 on 13/04/2016 - 13:32
        +1

        Umm.. ok. I have seen some houses out there converted into dual occupancy homes, ie. a highset house split into top and bottom, usually for helping owners out with their mortgage repayments by renting out the other half of the house, without actually sharing a house with someone else.

        These days, there are some builders out there with plans for dual occupancy homes to positively geared investments right from new. I think it is still on the one title, just that there are 2 separate part of the house. You will probably save on rates as rates is dependent on your land size, but you do share the one rubbish bin, unless you get another one from your local council, if possible.

        If you share the mortgage, it might get a bit messy if the other party cannot keep up with the mortgage repayments for some reason or another.

        • SnoozeAndLose on 13/04/2016 - 14:09

          if you are building duplex the first thing you do is split title, therefore you can split the mortgage as well.

  • RandomNinja on 13/04/2016 - 13:54

    We came across this property recently, looks like it is intended for 2 families to live in - http://www.realestate.com.au/property-house-nsw-carlingford-…

    As geek001 says, there's a bit of risk when it comes to sharing a mortgage!

    • JimB on 13/04/2016 - 14:04

      16 international students will help pay off the mortgage pretty quickly.

      • Islund on 13/04/2016 - 14:42

        You really meant 64 didn't you?

        • JimB on 13/04/2016 - 14:54

          I'm not greedy :D

        • Islund on 13/04/2016 - 15:02
          +1

          @JB1: sleeping in shifts to minimise down time of the beds :o))

        • JimB on 13/04/2016 - 15:04

          @Islund:

          I forgot about the 3 lounge/living areas also!

        • Islund on 13/04/2016 - 15:04

          @JB1: now you being greedy :o))

        • JimB on 13/04/2016 - 15:05
          +2

          @Islund:

          Just learning from the best mate.

        • [Deactivated] on 14/04/2016 - 09:19

          All true stories though

  • JimB on 13/04/2016 - 14:07
    +1

    Dual Occupancy Homes usually means two separate homes on one block, i.e. subdivided block.

    Better off to buy a house with a large backyard and then build another house at the back STCA. That way you can separate the title if one ever wishes to sell and you should be able to make some money too.

  • lupiter on 13/04/2016 - 15:53
    +2

    I've not seen it done where it was part-owned by each occupant, I've only seen someone buy the whole property and then rent half out.

  • [Deactivated] on 14/04/2016 - 09:20

    Just make sure you have an exit plan if either party feels like they need to leave

  • d-hunterz on 15/04/2016 - 11:29

    Thanks for the participation guys, it helped me understand more about dual occupancy. Cheers

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