Granny flats are becoming an incredibly popular option among homeowners in Australia, and the reason for this is quite apparent. The prices of real estate have increased phenomenally over the past few years, which makes it nearly impossible for people to buy or even rent out apartments for their parents.
However, granny flats are built right in your backyard, which means that your parents can now live right near you, without sacrificing their independence. Besides, in the case of emergencies, you can easily reach them. We at 5 Star Granny Flats offer clients with the best customised Granny Flat designs and build solutions.
To commence the project, you require sufficient space in your backyard. Also, it would be best if you determined what to do with it once it has served its purpose. A great option is to think creatively and turn it into an extension of your house. This is a very versatile structure, and aside from housing elderly family members, there are many ways in which you can use it, such as:
1. Home Office
You can convert the granny flat into a quiet and peaceful space for you to work out of home. Besides, you can also discontinue renting a business space, and use your granny flat as an office space. You can also consider renting out the apartment to people for their businesses.
2. Rent It Out
Another great option is to use your granny flat like a real estate asset. Students are often out on the search for small apartments to live in. You can either use the extra money from the rent to make up for what you spent on building the granny flat or even use it to cover your mortgage. You could set the money aside for your retirement as well. However, you must make a formal tenancy contract if you have decided to rent out the granny flat.
3. A Personal Space
One of the popular choices is to turn your granny flat into a space for relaxation. It provides you with the opportunity to create a peaceful zone where you can enjoy indulging in your hobbies and interests. Another alternative is to convert the granny flat into a home gym, DIY workshop, or even a yoga studio.
4. A Place to Stay For Young People
As previously stated, granny flats are great places to rent out to college students who are looking for cheap accommodation. Besides, you can also rent out space to foreign exchange students who want to learn more about the culture, way of living, and language. You can make good money from a granny flat; however, you must ensure that it has all the required amenities when you rent it out.
5. Pool House
If you have a pool on your property, a granny flat is a perfect space to store all your pool equipment, chemicals, and products. You can also safely store all your pool toys and accessories. The flat would have a functioning bathroom as well, which means you don’t have to go into your residence to shower once you
and your family are done using the pool.
For more information on our granny flat build services, 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.