Moving out of a big house and into a smaller space, or ‘downsizing’, is a rapidly growing trend for Australians over 50 years of age. In fact, while just 3 per cent of Australians downsized in the early 2000’s, these days 43 per cent of Australians aged between 50-59 have moved into a smaller dwelling or relocated as they approach retirement, according to a recent survey by the Australian Housing and Urban Research Institute (AHURI). In this article, we reveal five key benefits of Granny Flats as an ideal downsizing solution:
#1 Completely Customised to Suit Your Lifestyle
Designing and building a custom Granny Flat is an ideal downsizing option for many Australians. It can be exhausting having to attend apartment or townhouse inspections and auctions for months on end, in the hopes the right dwelling in the right location at the right price will appear. However, when you build a custom Granny Flat with Acrow Granny Flats, it can be completely tailored to your individual tastes, budget, needs and lifestyle. You can work with an experienced designer on your perfect floorplan, colour palette, finishes and even upgrade with brickwork to match your original home.
#2 Luxury Lifestyle Features
The modern Granny Flat has never been more luxurious. Did you know that Acrow offers a suite of luxury features you can add on to your Granny Flat? You can include an alfresco area with outdoor lighting and fans for relaxing on pleasant days. Or, you can make upgrades to windows and doors for added spaciousness and light. If you love entertaining, you can add extended decking areas and expanded pantry space in the kitchen. There are optional study nooks and much, much more.
#3 Protect Your Privacy
When buying and moving into an apartment or townhouse, there is always the risk you may have to tolerate loud or undesirable neighbours for who knows how long. Living in such proximity to many others and having to attend strata committee meetings is not suited to everyone. Similarly, sharing walls and sharing amenities can be an uncomfortable experience at times. But with a Granny Flat – there are no adjoining walls, shared areas or crowded neighbours at all! You can enjoy peace and quiet and protect your privacy.
#4 A Financially Savvy Investment
Regardless of whether you choose to build a 1-bedroom, 2-bedroom or a 3-bedroom Granny Flat on your property, it is an investment that is adding substantial value to your existing property. In fact, building a Granny Flat onto your existing property in Australia can increase the value by an impressive 30 per cent, according to the most recent CoreLogic report. If your property is currently worth around $1M, this means an increase of $300,000 that could be instantly added value to your home. Granny Flats are one of the most astute financial manoeuvres you can make, as it also means you can generate regular passive income from leasing the main residence.
Don’t forget that building a Granny Flat also means you are saving money on conveyancing fees, bank fees, building inspection reports and removalists, not to mention the real estate commission fees to sell your home.
#5 Stay in the Location You Love
Are you looking to downsize, but still want to stay in the suburbs or regional area you love? Building a luxury Granny Flat means there is no need to move into an apartment in more densely populated urban areas. You can stay with the community you are comfortable with and have grown close to.