4 Things to Consider When Building a Dual Occupancy in Sydney
21 November 2022Real estate is one of the most valuable investments anyone can obtain. With a well-built property, one can expect its value to significantly rise in the next few years. There is even a possibility for the cost of the property to be doubled or even tripled.
If you want to build a home property, you might as well invest in a dual occupancy in Sydney. A dual occupancy home is a type of property that only maximises one title. The whole building, however, houses two residencies or living spaces with each having a separate entrance, allowing your family and another one to reside side-by-side. As the owner of a dual occupancy dwelling, you can expect to earn while providing a great home for your family.
But before building a dual occupancy in Sydney, you might want to consider the following factors first to avoid any issues along the way.
1. Site Condition
One thing you must consider before building a dual occupancy is the condition of your project site. Not all project site has great qualities. Some would require thorough modifications before they can be used for construction works. When looking for a project site for your dual occupancy, you must have it assessed by professionals first. You may want to know the site’s orientation, slope, soil condition, and many more right in the beginning so you can gauge if it can cater to your property plan. It can also help your contractor during the planning phase.
2. Building Contractor
It would be difficult for you to go on with your dual occupancy project if you do not have any building contractors. A building contractor has a team of experts who can design and finalise a project plan. They also have expert workers who can execute the plan precisely and within the set timeline and budget. But of course, they can only be trusted if they are experienced, knowledgeable, and licensed. Finding a building contractor with these qualities must also be your priority before proceeding with the dual occupancy project to avoid getting scammed.
3. Realistic Budget
The actual expenses for a construction project can often fluctuate based on the pricing of materials, labour fees, and many more. Unplanned adjustments on the project timeline can also affect the overall spending for a construction job. Given the uncertainty of some things during a construction project, you must ensure that the budget you will allocate for the dual occupancy will be somehow fluid. It would also be good for you to find a builder that can already work with your set budget without incurring hidden fees.
4. Primary Purpose
One more thing that you need to consider before building a dual occupancy in Sydney is your primary purpose. The general design and layout of your dual occupancy dwelling may be modified according to your primary purpose. Do you intend to occupy one part of the property and sell the other part? Or are you planning to have both units rented out? Knowing the supposed purpose of your dual occupancy right from the very start can help you and your hired building contractor to generate a plan that can benefit you in the long run.
If you want a building contractor that can design and construct your dual occupancy dwelling, you can contact us at Micxel.
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