If you have extra space in your home or investment property, there are many ways to utilise it. Granny flats have been considered one of the best ways to add value to your home. There are various perks to adding a granny flat to your home. Accommodating elderly parents or a moody teenager at home who needs more space will be easier. Otherwise, these flats can be an extra space to generate rental income.
You don’t have to splurge more in buying or building the flats, but they can be considered a steady source of income. Construction companies offer countless granny flat designs, and you can easily select a design that suffices your requirements.
Most of these accessory dwelling units come under the tiny house category, as you can build the units in less than 100 square feet. However, the units will contain all features of a typical house, including a kitchen, bedroom, living room and bathroom. Many reasons nudge homeowners to construct granny flats, including the cost and easy construction. If you are not yet convinced, continue reading to know the top reasons that elucidate why granny flats are a good selling point.
A good investment for homeowners
Most Australians are intrigued by constructing an additional flat close to their home. It can be a good investment opportunity but costs less to construct. These small yet cosy homes can be considered the best to generate rental income. Some people move into the granny flat and rent their houses if the residential unit no longer fulfils their requirements.
Whether you rent the granny flats long- or short-term, it will be an additional income source. You can list the apartments on rental websites.
Best for elders
Granny flats are usually used to provide comfortable accommodation for elderly relatives. They can stay independently without moving away from their family and avail themselves of all the essential amenities. It can be the perfect solution for people trying to accommodate a good place for their elderly parents.
The elderly population in Australia has been increasing steadily, and within a few decades, 25% of the Australian population will be over 65 years. In the upcoming years, elderly parents might choose to live with their families. People can also save money as retirement homes are pretty expensive.
Personalised granny flats
When building a secondary dwelling unit near the residential property, it is essential to utilise the best construction specialist’s assistance. Top builders will offer various designs from which you can choose the best and start the construction immediately. Above all, these granny flat designs can be customised per individuals’ requirements.
Comfortable secondary dwelling units
People who find it difficult to buy homes consider granny flats the best substitute. You don’t have to splurge more in building these secondary dwelling units; it takes less to construct than conventional homes. You can build a granny flat on an investment or friend’s property. This will further help you build the granny flats on your budget and decrease the cost immensely.
Wrapping up
Granny flats have been the rising trend in the real estate industry as they are cost-effective and essential for many homeowners who endeavour to accommodate elderly parents. Moreover, these building units can be another source of income for homeowners. There are several benefits to constructing a granny flat in your investment property. Get in touch with the best builders and commence the next construction project.