Economic Importance Of Dual Occupancy Property

Dual Occupancy Property

If any first time investor or a developer is smart enough and wants to highlight his property portfolio he will definitely go to a dual occupancy project. In other words he will buy a land where he can design and construct two dwellings or subdivides. These two dwellings can be attached or separated. It will reduce the amount of the investor or developer to half by this way. This technique of getting investment return is normally applied to those areas where property business is on the boom. In a period of a year an intelligent developer can get more than 100,000 dollars and for sure no other business can be so profitable in the comparison. You will be lucky enough if the developing market is starting to rise during your investment time as you will get more money as a bonus return. Before starting your dual occupancy project it is better to take the approval from the law makers. It is also important to study and understand the economic and market worth of the site which is about to be developed. Granny flats and duplex apartments are best examples of a property with dual occupancy.

Granny Flats

An urban planning term applied to a secondary construction within the primary construction unit is termed as Granny flats or annexed. This type of construction is normally equipped with kitchen, bathroom and living area. They are termed as dual occupancy in Australia and secondary suites in Canada. In Australia, UK and Canada there is a provision in law for constructing granny flats but it is not there in North American municipalities. The Granny flats are constructed in combination and unification with the primary dwellings and on the same piece of land as the primary dwellings. It is mostly located within or attached to the primary dwellings but sometimes it may be separated from the primary dwellings. In those countries where there is a provision of constructing Granny flats, one has to take permission from the government to design or construct them. There are certain requirements to be fulfilled in this regard in order to construct the Granny flats. In many cases granny flats provide an arrangement to sup

port old people to have a peaceful life in their last days.

Duplex Development Property

A duplex building is a house or apartment with distinct admissions for two houses. These houses can be double storey or sideways sharing a single wall. This term can be applied to three or four storey buildings too. They are best example ofdual property occupancy. Almost real estate experts are agreed to the fact that if you are interested to buy a home either for residential or investment purpose, you should go for a duplex. The Duplexes possess a strong potential in terms of investment returns for both owners and investors. In order to construct or develop a duplex one has to follow rules and regulations designed by the country of his residence.

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