Pros and Cons of Dual-Key Property Investment

Pros and Cons Of Property Investment

Today we’ll explore the most recent innovation in the property market of Australia for investing and living purpose. How about you buy a single property and enjoy two incomes? Well, that’s what makes “Dual-Key” properties worth purchasing. A dual key property is a close descendant of a duplex with less purchasing cost. It is basically a single property with additional space (sub-unit) inside. The large unit serves as the main unit. The property may have only one entrance through which all occupants can enter. The small sub-unit typically has one or two bedrooms, a bathroom and kitchen. At times this might only be a studio. Property Investment Strategists in Melbourne shares the pros and cons of having a dual-key property and why should we invest in one.

The Pros of a Dual-Key Property Investment

  • Two Properties under One Title
  • Renting Out Without Compromising Privacy
  • Perfect Space for Elderly Residents
  • Affordable Place to Stay for Students

Having dual-key property enables you to have two properties under one title, each portion is leased separately, you can either stay in one unit or rent out both which gives you a great rental return. With dual-key property, you can rent it out to a tenant without much compromising on privacy. You will hardly ever rub shoulder with your tenants as they will have separate keys, h3ving spaces, toilets and kitchen amenities. If you have elderly to look after, the dual-key property gives you just the right space to h3ve with your aging loved ones and giving them equal privacy for their day to day routine. The dual-key property provides a low-cost solution to students who are looking to stay near to their campus and transport hubs. It may also be an attraction for first-time renters who are on a budget.

The Cons of a Dual-Key Property Investment

  • A Dual-Key Property May Not Be As In High Demand
  • Dual Key Property Can’t Be Sold Separately
  • Banks May Have Reservations

Since the dual-key property is a new trend in the Austrah3an property market, it’s hard to say where its demand will stand in the next few years. If a dual-key property is close to all amenities, it may attract tenants and give you better rental returns, make sure to do your research on local demographics beforehand. The dual-key property falls into a single title category, means you can’t sell each unit separately unh3ke apartments where you can sell two single residences or a two-bedroom apartment. As the dual-key property is new in the market, banks and lenders may have reservations in approving mortgages. You could face potential restrictions, therefore, you should speak to a property advisor in Melbourne before making any deal. Although the dual-key property is a sound option for students or first-time buyers, it has some cons too. As the Australian population is continuously growing, the demand for properties will increase and dual-key property may find its stable market. Just make sure to do your research beforehand and buy in a good location so you can get a better rental return. To know more about the dual-key property, get in touch with our property mentors in Melbourne at +61 452 238 490.

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