Granny flats are the new apartment designs that most homeowners are considering to build in their homes. They may not blend so well with the rest of the house but if you invest in a sound engineer; he will be able to build you an extension that looks good next to your main home. Furthermore, they can also bring you investment benefits too.
Why are the granny flats a good investment?
1. Can earn you income.
You don’t need to keep the extended house until you get extra guests in your house as you can still utilize it to earn some bucks. Most people are always looking for temporary, affordable rental homes to rent for several months. Hence if you charge yours at a fair price, rest assured that you will get a large number of people knocking at your door.
2. They are not expensive to build.
These houses do not require a lot of money to set up. The extensions are added in the home compound, and hence one needs to minimize the use of space as much as possible. You end up spending less on buying the raw materials of the flats since, in most states such as Sydney, the granny flats are recommended to be built close to the other existing building. Thus, you can construct it on one side of your rentals or even near your main house.
All the fixtures and other necessities such as water and electricity will be shared from the main house, and this saves you from incurring a lot of installation charges. Before you start the project, consider getting a granny flat approval letter from your local authority to avoid any issues with the law in case you build the flats without the government’s power.
3. Adds the value of the home sales.
If at one point you decide to sell your home, the granny flat will add some value and enable you to bank more money since it will be included in the sales deal. As long the extra home is functional, the buyer will consider keeping it for future use.
4. It is versatile.
The granny flats do not only have to be used as additional sleeping rooms, but you can also utilize them for other home needs such as an office. If you want some privacy far from the main house, building an extension is a good idea since you will be able to utilize the room without any distractions. You also get to develop it depending on your office needs and the spaces you require for your convenience.
5. Extra guests’ room.
A granny flat is a house that your kids can use as their rooms if you no longer want them living in your primary residence, or if they need a place to stay for a while before they become independent. The flats can be used for hosting guests if they don’t fit in your main house.
Your large garden can earn you some money if you build granny flats. These rooms do not require too much time or resources, and they are versatile depending on how you design them. So, if you are wondering what to do with the extra space in your yard, a granny flat would be a good and profitable idea to consider.