Granny flats have gained enormous interest among Australians in recent years. What started out as a way to keep elderly family members closeby without cramping each others style has grown and is now a huge industry of back yard dwellings. Whether it is for extra income, teenage retreat or home office, the wide range of possible uses has made the granny flat a popular, versatile and relative cheap solution to many families problems.
In case you are still wondering what all the fuss is about, let me give you 8 reasons to consider a granny flat:
1. Keep family close
Parents and grandparents may need additional care as they age and it might be important to you to keep them closeby for immediate attention. Your children might also need more space, and until they are ready to live on their own, the Granny flat is a place to stay whilst also being able to enjoy some independence.
2. Can be converted to office space
A granny flat -when not used as a separate home-, may convert into your business hub and save you rent that you would have paid otherwise. Plus you can balance work and home life when you work in your comfort zone.
3. Boost property value
Additional space and amenities mean an increase in the total value of your property. This means that if you currently have 2 bedroom 1 bath, adding a granny flat will make it to 3 bedroom 2 bathroom. Adding living space could certainly increase your home value.
4. Generate rental income
Granny flats are a great way to earn passive income from short term rentals like Airbnb. Because the building is on your premises, it’s easier to manage than a rental property elsewhere.
5. Affordable property investment
Building a granny flat as an investment can generate extra income with a small initial investment compared to the cost. It often provides a great “return on investment”.
6. Hobby Studio
A granny flat can be the perfect place to unleash your creativity, your own art space or music studio. This can also be made into a sound-proof space so you won’t have to worry about neighbors complaining about the noise. Explore your passion in the privacy of your own studio!
7. Teenage Retreat
Turning a granny flat into a teenage retreat is a great way to give teenagers the space they crave, within parental controls. It can be can used as a gym or fitness room to provide them a place to study, party, sleep and hang out with friends.
8. May Not Need Council Approval
Did you know that in certain cases a granny flat does not need council approval? Within the legislation there are provisions that allow for construction of particular dwellings without a lengthy DA process. This means you might be able to build a two-bedroom granny flat in your backyard without going to council. If your property qualify, you can get approval in just 10 days and potentially at a much lower cost.
Would you like to find out if your property qualifies for a granny flat? Email us at email@example.com.