Granny flats provide a unique opportunity for homeowners to unlock additional space and income potential on their existing properties. By constructing an independent living unit, homeowners can gain more room for family members or even create a rental opportunity. With the potential to increase income and improve quality of life, it’s no wonder many people explore building a granny flat as an option.
In this article, we will look at all the benefits of building a granny flat on your property and discuss the costs.
Granny Flats and Their Benefits
Granny flats are generally small self-contained living units built on the same property as your main dwelling, giving homeowners more room for family members or potentially creating a rental opportunity. By introducing an additional living space, homeowners can increase their quality of life as well as their income potential.
Some of the potential benefits of having a granny flat include:
Extra Living Space for Extended Family
Granny flats are an ideal solution for providing extra living space for your extended family. Not only do they give everyone the privacy and independence they need, but they also provide close proximity to the main house in case of any emergency or help needed.
Granny flats can be tailored to the specific needs of extended family members, whether it’s a single-bedroom dwelling or a larger self-contained unit with multiple bedrooms, a kitchen, and a living area.
Granny flats also offer more flexibility when it comes to deciding who stays where. If there is a large gathering for Easter or other holidays, guests can stay there while the main house remains free for family activities.
Granny flats offer an excellent opportunity for elderly parents to remain independent while still being close enough for easy access and care from their children should they need it. They provide a great way for ageing parents to enjoy their own home within the same property as their children. This allows them to live out their retirement years without sacrificing their independence or interfering in the daily activities of other family members while remaining connected and secure thanks to the close proximity.
A Rental Income
Creating an additional rental unit out of a Granny Flat is a great way to generate extra income for homeowners. They can be rented as permanent residences or as short-term lodging, making them ideal for travellers or vacationers looking for temporary housing.
Granny flats offer owners the flexibility to choose their own tenants and set their own rental rates, meaning they can earn substantially more than what they would get with traditional leasing agreements.
In addition to being an excellent source of income, Granny Flats also make an efficient investment as they typically require less maintenance or upkeep due to their size.
For those looking to supplement their income stream via rental property investments, Granny Flats provide an excellent option offering numerous benefits while still maintaining the comforts of home. From added convenience and close proximity to family members to potential financial gains through additional rentals, Granny Flats offer a unique solution not to be overlooked when considering real estate investments.
Hosting Long-Term Visitors
Hosting long-term visitors can be an ideal way to supplement income in Granny Flats as they are often more spacious than traditional hotel rooms and provide more amenities for those staying for extended periods of time.
Granny Flats offer college students on summer break or business travellers a comfortable yet independent living space – equipped with the necessary amenities such as full kitchens and private bathrooms, without sacrificing the level of convenience from being close to family members or other important locations.
In addition to providing financial gain, Granny Flats also offer families visiting from out of town the opportunity to stay for extended periods of time without having to commit to longer leases or buy their own property outright.
Granny flats also provide additional privacy for all occupants, reducing noise and distractions while still maintaining close proximity.
A Home Office, Craft Room, Gym, or Playroom
Granny Flats are also an ideal solution for those looking to set up a home office, craft room or studio, gym, or playroom away from the main house. They offer the necessary privacy with having a designated space away from the main residence while still being close enough to quickly access what’s needed. They typically come equipped with full bathrooms and kitchens making them perfect for use as luxurious guest suites, home offices, music rooms, or any other form of living or lifestyle space.
For those who work from home, Granny Flats can provide a layer of separation between work and home life, allowing homeowners to maximise efficiency in their day-to-day activities.
For those interested in art, crafts or music, a granny flat means you have the space to create a permanent studio, keeping any messy, or noisy, areas away from the family.
Granny flats also offer ample space for exercise equipment such as treadmills and weights and for children to have their own dedicated playroom. They may be designed with thoughtful touches such as built-in storage solutions and energy-efficient heating and air conditioning systems to make them more comfortable than ever before.
What About the Daily Commute to Work?
Working from home in your own Granny Flat can help reduce daily commutes to work, to nothing!
You will not need to sit in stop-start traffic or wait for a crowded train or bus. You will have no fuel or fares to pay and you’ll never have to search out a parking space close to work!
You will save travelling costs and all the time other people spend on their commute to work. If you fancy some exercise, you could always walk the longer way around your block to get to your granny flat and begin work!
A Private Suite for Adolescents
Granny flats can be a great solution for families with children entering their adolescent years. They provide children with the necessary privacy they need to have their own space while still being close enough to quickly access what is needed.
Granny flats come equipped with full bathrooms and kitchens making them perfect for use as private suites.
This is a wonderful way to introduce children to independent living, enjoying all the comforts of a regular house and the peace of mind, for you ok knowing they are in your garden!.
A Hybrid?
You could use your granny flat to have the best of both worlds, enjoying an income plus extra living space.
If you accommodate your children in the granny flat while they are home for holidays from their further education, you could follow an airbnb model, with short-term tenants providing you with a rental income while your children are away.
But Is a Granny Flat Good Value for Money?
Yes, granny flats in the Central Coast region are affordable. No matter what your reason for building, with granny flat prices starting from around $150,00 this is a superb value dwelling in comparison to median house prices in the region ranging from around $822,000 to $1,700,00, according to the financial news site savings.com.
Plus, building a granny flat is also convenient, regardless of your intentions:
Investment Property
You don’t need to seek properties and compete with other buyers. Your investment will be built, to your specifications, on your own block. With the property being close to home, you could even save on property management fees by doing it yourself!
Extra Space/Lifestyle Choice
If your granny flat is to provide additional living space or is a work-from-home or lifestyle choice you again have the convenience of building where3 you already live!
You don’t need to leave the family home and face the hassle and cost of moving. Your granny flat will provide all the space you desire.
Plan Ahead!
Get involved with the design of your granny flat. Build your dream property but remember your usage can change over time. The teen pod you are planning now may well become a home gym or an office when the children have left home. A room designated a ‘bedroom’ can become a ‘music studio’ in the future.
Acrow Granny Flats – Your First Choice!
If you’re in need of extra space, an Acrow Granny Flat is the perfect solution.
Our top-quality, affordable granny flats are a great way to get the extra living space you need for your family or an additional income from rent.
With our bespoke design service, we can create a personalised granny flat to perfectly suit your needs and lifestyle. Plus, with our stress-free process, we’ll take care of everything for you. You can relax and enjoy your new small home.
Get the space your family wants with an Acrow Granny Flat.