As the mum of five young children, I know how important it is to have access to a safe outdoor space for your children to play. Being cooped up in the house all day isn't good for the kids or the parents, but you also can't let young kids play in a space that's hazardous. When we bought our new family home, there was a lot of work to do in the garden to make it childproof, and we also wanted to make it a fun place for the kids to play. We erected a new fence, fitted a combination lock on the garden gate, had poisonous plants removed, cordoned off the pool and created a play area complete with swings, a slide and outdoor games. I started this blog to share my DIY gardening tips, and I hope you find it interesting and useful.
Real estate is quickly becoming one of the preferred investment opportunities due to the current decrease in real estate prices. It is possible to purchase a property at an affordable cost and rent it for a long-term profit. Many investors are quickly starting to choose properties with dual occupancy designs that offer more value. A dual occupancy home is similar to a duplex and offers two separate dwellings that can be rented out. These separate dwellings exist on the same property but can essentially provide two different rental incomes. There are a variety of benefits that can be gained by investors that choose to purchase dual occupancy homes.
With every type of investment comes some type of risk. So it is wise to minimise the amount of risk that you are exposed to whenever possible. Real estate properties do come with some risk if you are unable to rent out the property. However, with a dual occupancy home, you can lessen the risk substantially. Even if one of the dwellings is vacant, you will likely always have the other rented and producing income. This gives you more leeway and allows the luxury of always having two potential rental sources to work with.
The cost of a dual occupancy home is slightly higher, but you also have the advantage of getting access to two sources of income. You will have two separate tenants, which will allow you to produce a much higher amount of income from the property. This type of property comes with a higher initial investment on your part, but the payoff is well worth it in the end. Even though you are benefiting from having two tenants paying rent each month, you are only paying outgoing fees on one property. This only adds to your profits.
It is also wise to be aware that dual occupancy homes come attached to increased savings during tax season. This means that you will have more deductions as a result of having two dwellings. With increased tax savings on the property, it will make the purchase price even more affordable and the overall investment more lucrative. You might essentially be getting two properties with the purchase of a dual occupancy home, but it is on one plot of land, so your property taxes are also reduced. If you want to get access to the largest tax benefits to make your investment more worthwhile, a dual occupancy home is the superior choice over a traditional dwelling.Share