Granny flats are attracting more and more investors, property owners, and renters in recent times. These structures may not seem a very stylish extension to your home. However, we at 5 Star Granny Flats know from experience that granny flats are becoming increasingly popular among investors and property owners alike. Let’s take a look at why this is the case:
1. Inexpensive to build
It is a legal requirement that granny flats be an attachment to the existing house or constructed on the same property, but not on another plot of land. They typically share the utilities and service connections of the main house structure. If built-in a garage or as a part of the basement, you save structural building costs too.
2. Home Office Space
You can use granny flats as an office space with rooms for staff, a small kitchen, and a conference room to meet clients. Working from home has some distinct advantages, like saving time on the commute, more time for the family, financial saving, etc.
3. Added Rental Income
Rental income generation is one of the main points that sees people favouring the concept of granny flats. If you have a large backyard to build a granny flat, you can add to your income flow by renting it out. The granny flat will also boost the resale value of your property. You can make your retirement period more comfortable by selling the property and live in a rental property with the additional income increasing your retirement savings.
4. Accommodation for College-Going Kids
A granny flat becomes the perfect solution for accommodation for college-going adult children. They may not always be able to afford to live independently due to the high cost of accommodation. Living in a granny flat on their parents’ property reduces the expenses of living away from home drastically and yet provides them the freedom they want.
5. Housing for The Elderly and Guests
Granny flats can serve many purposes. It can be used to provide living space to your aging parents or some other elderly members of your family and can care for them easily. You also have peace of mind that they are living close to you and can provide them the assistance they need in their old age.
You can accommodate occasional houseguests in a spacious separate place with a bedroom, living room, and kitchen and make their stay more enjoyable. It will be a pleasant surprise for them to live in a granny flat than a guest room in your house. Your kids can use a granny flat for their parties, as a study place or as a hobby place like a studio for painting or learning and enjoying music. As you can see, there are a number of ways in which you can benefit from getting a granny flat built. For more information on our granny flats, you can get in touch with us at 5 Star Granny Flats today! Just give us a call on 1300 843 921 or fill in this contact us form. You can also use this form to get a quick online quote.