Dual occupancy homes are an attractive option for owner-occupiers, investors and renters alike. As the owner of a dual-income home, you can reap the benefits of additional income in several different forms.
There’s great earning potential in having two dwellings on one piece of land. In this article, we’ll explore how these home designs can make you more money than traditional single-family homes.
Financial Benefits of Dual Occupancy Homes
While dual occupancy designs may not be right for every situation, there are certainly some compelling financial benefits that you should consider when making a home design decision.
One of the biggest benefits of dual-income homes is their ability to create an extra source of income through collecting rent. There are couple different options:
- You can live on one side of the home and rent out the other
- You can rent out both units and collect double the rent
Renting is a great way for those who are looking to own a home to have a way to support the costs. Whether you choose to live in your dual income home, or it’s purely an investment property, the rent you collect will help pay for the home and eventually earn you a great return on investment.
Increased Property Value And Tax Benefits
In addition to renting out half or both sides of your home to collect extra revenue, you’ll also make more money on your home when it comes to the value of your property and taxes.
Dual occupancy homes are valued at a higher resale price than most traditional homes. Why? Because they provide double the benefits of a single-family dwelling.
This type of home design also allows you to have more claimable, which means you get a bigger tax break during tax time. Who doesn’t love a little extra money in their pocket during tax time?
Take Care of Your Elders At A Lower Cost
If you’re in a situation where it’s time to take care of your parents, grandparents, or other elderly friend or family member, utilizing the other half of your dual-income home is a financially savvy way to ensure they are well taken care of.
Instead of sending your loved one off to live in a pricey retirement village, you can have them live on your property. Not only will this save you money, but you’ll also have peace of mind that your loved one is safe, secure, and nearby should they need you.
Belazzo Dual Income Homes
Dual income homes are a low risk, high reward income opportunity with many more benefits than downsides. Whether you’re looking to create extra income by renting out both units, or you need a place to retire your loved one, Belazzo Homes can help.
The team at Belazzo homes are masters at dual occupancy designs. Give us a call or send us an inquiry to see how we can help you get the home of your dreams, with the potential for a great return on investment.