If you have a detached house and spare room in the yard, having a granny flat built has so many benefits to offer, which is why so many Australian homeowners, from Melbourne to Maitland and Perth to Punchbowl, are having granny flats built at their homes. Naturally, there are expenses involved and there’s a good chance that most homeowners will need to take out a loan to have one built, however, the benefits really are too good to overlook!
It Expands Your Residential Space
Even though you may have no plans to rent it out to tenants just yet, having a quality granny flat built expands your residential space. That’s great news for families whose older children need more room, as building high-quality granny flats in Perth can deliver as much new space as a home extension (in some cases more and in some cases less), however, these dwellings can add significantly more to the value of a home than an extension.
Naturally, there are many important factors that homeowners need to consider here but, generally speaking, from a financial perspective, adding a granny flat to your property will add real value to your home. That’s a great reason to add a granny flat and if you have elderly parents or teenagers who require more space, this is the perfect home improvement project for you to embark upon.
There’s No Council Approval Required
In most parts of Australia, provided the granny flat design meets regulations, no council approval is required and even if it is, that’s something that a good granny flat build team can assist you with. This means that adding more space to your home and increasing the equity in your property can be easily achieved with a granny flat and you won’t even have to deal with the local council!
If you’ve had to deal with your local council in the past, usually handing over money for seemingly no good reason in most cases, you’ll understand why this is such an excellent benefit.
It’s an Alternative to Subdivision
Following on from the previous point about local councils, subdividing a residential property can be a nightmarish experience, one that sees you paying the council for everything they can possibly find, including an often-bewildering array of different fees and duties that often make little sense.
Granny flats are considered a great alternative to subdivision and although having one built may not deliver the capital gains involved in subdividing a property, it does involve a lot less stress and financial outlay, especially in inner-city areas where local councils tend to be quite greedy.
It’s Another Source of Income
Perhaps the main reason why granny flats are all the rage these days is that they deliver another source of income for homeowners, especially in inner-city suburbs where rents are high and renters are looking for cheaper alternatives to apartments and small dwellings.
If you have the space to spare, a granny flat can be a great investment. Why not look into your options today?