Primary & Secondary Dwellings
What is a primary and secondary or PrimeSec dwelling? Due to the demand for affordable housing throughout Australia, the Government has passed legislation identifying granny flats as a low cost and affordable alternative to ease our overheated demand for housing. The Government’s approach to this form of accommodation named the existing house the primary house, and the granny flat the secondary house.
What this means for you
Through an extensive review of the legislation, Macquarie Knight Constructions formulated a strategy that would take advantage of the Government’s concessions and deliver an investment opportunity to our clients. Combining the primary and secondary dwellings into one new property would enable our clients to obtain a property that has multiple applications, and presents a long lasting and profitable asset – PrimeSec.
The PrimeSec dwelling combines a 2, 3, 4 bed primary dwelling with a 1, 2 bed secondary dwelling in a unique design that resembles a traditional 4 bed residence from the front streetscape. The PrimeSec combines garaging for each dwelling, separate fenced rear yards, a fire rated and acoustic parti-wall between both dwellings and full self-contained kitchen, bathroom and living areas for each.
The PrimeSec has a number of wonderful applications, including:
- 2 x rental incomes
- Wonderfully high rental yields, often over 6%
- Significantly higher tax depreciation benefits over a traditional house
- Strong capital growth
- First home owners:
- Live in one side and have the other side rented out to pay off the mortgage
- The rental income from the other side may make finance more achievable
- Live in one side and have a rental income supplementing their lifestyle
- Traditional family:
- Live in one side and provide independent accommodation for parents, children, newlyweds, etc
PrimeSec is truly a wonderful new concept in housing, one that the Government has endorsed, and one that Macquarie Knight Constructions have embraced and tailored to provide unique outcomes for our clients.