Hello,
I have an IP that is a corner block 900m2 in the Blacktown City Council area with an existing weatherboard property on the front third of the land. It is zoned R2.
Now I’m starting to research my options- My strategy is to develop and hold onto the property (essentially to fund my retirement in later years)
Initially I wanted to build a granny flat out the back, but because the land is so large, I think this would be somewhat of a waste of potential. So, what I want to do is to build a second 3 or 4 bedroom property.
What I can’t make heads or tails of at the moment is what the difference between subdivision and dual occupancy is and what the best road to take for someone in my situation- I.e. I don’t want to develop one property and sell it for a profit.. I want to build a relatively cheap, easily rentable second property and rent it out to increase my yield.
Typically what is involved in either subdivision and dual occupancy?
It would appear that subdivision is more suited to someone who wants to develop and sell and dual occupancy is suited to someone in my situation, but what exactly is the difference? And what is the approval process and typical lead times?
If anyone has any experience, particularly with Blacktown council, I’d really appreciate it.
Basically a subdivision is the creation of a new block ie you would have 2 blocks with separate titles, dual occupancy is 2 dwellings on the one title (either attached, detached or Granny flats). With DO you will still want to consider separation of services so that the tenants are individually metered and will pay water/power etc.
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