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
At Macquarie knight, we have extensively reviewed this legislation and 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 – Dual Key.
The Dual Key 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 Dual Key combines garaging for each dwelling, separate fenced rear yards, a fire-rated and acoustic party-wall between both dwellings and fully self-contained kitchen, bathroom and living areas for each.
Dual Key has several 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 homeowners:
- 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