James Mitchell

house investmentA granny flat is typically an additional, smaller, self-contained house built on your residential lot. It has its own entrance, kitchen, bedroom and bathroom. As a separate space from the main house, it offers several opportunities for use. This makes it a potentially good investment.

Important Things To Know Before Constructing A Granny Flat

There are various things to consider before building a granny flat. For instance, there must be a primary house on the property, and only a single person must own both residences. Other things to consider are the measurements of your area, finding the right contractor and, most importantly, securing a permit from the local council.

There is a minimum land size required to be able to build a granny flat, and it varies across local councils. It is important to remember to comply with the Building Code of Australia as well as any relevant Australian Standards.

As for how much building a granny flat would cost, it depends on the type of materials used, the contractor’s rates, the size of the flat, architect’s fees and the design you want.

Why You Should Consider Building A Granny Flat

Granny flats are not just built to house aging parents, teenage children who want to have their own space, and other relatives staying with you. They are also used as additional space for recreation, a home office or for renting out. It is a good source of additional income which you can use to pay your mortgage and other expenses.

The granny flat investment is becoming ever more popular in Australia, and not just because it increases your property’s value. If you have the right property permits and enough space for a granny flat, then it would be good to have one built.

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