From 1 July 2018 the Logan Council will start imposing infrastructure charges for the Auxiliary Unit where a new Building Approval or Development Approval is required. Currently the Auxiliary Unit doesn’t attract an additional infrastructure charge.
Further, the Council has recently commenced the process of amending the Planning Scheme to alter the site requirements for Dual Occupancy – Auxiliary Unit projects to promote this housing typology only occurring on lots 700 square metres or greater and with a minimum frontage of 18 metres. The Council have indicated that they envisage the process of amending the planning scheme to take in the order of 12 months.
What does that mean to you the investor? There will be an increase in land cost due to the larger sized blocks required, and the council levies will be now be increased by up to $26,000. This will reduce the return from over 6% to 5.5% based on the additional costs. Properties will still be cash flow positive but why would you give away over half a percent of income, when by acting now you can be in front of the price increases and have a positive income property investment before the end of this financial year? You will also have the capital gain on any property purchased now once the new costs become law.
Why buy off Dual Income Properties? Dual Income properties were established to help investors, both experienced and first time buyers, to easily purchase positive income property investments (PIPI), in high growth areas throughout Australia.
What are Dual Income Properties? They are a relatively new concept of cleverly designed homes that from the street look like a single dwelling but actually are two separate properties under one roof.
Where should you buy? We would be happy to talk to you to discuss your investment goals, budget, and required cash flow we will supply you with properties that will meet all these requirements and more.
When should you buy a Dual Income Property? Based on the increase in costs from the middle of this year, and the growth in the Brisbane/ Gold Coast corridor now is our advice. Remember the proverb “When is the best time to plant a tree? Answer 20 years ago.
Start your journey to financial independence today by enquiring online or calling us direct on 1300 171000 and don’t forget to ask about our Platinum Package.