05 Dec The Top 5 advantages of adding a granny flat to your home
Many people are now having to look at alternative options to accommodate extra family members, (ideally without having to give up their space in their home) or are thinking of travelling so want to rent out the main house and make their base the smaller dwelling. Additional dwellings, secondary dwellings, granny flats, caretaker residences or an extension off the main house separated with a breezeway are becoming increasingly popular.
Let’s look at the top 5 advantages of adding a granny flat to your home.
1. Keeping Family Close
Building a granny flat is a great investment in intergenerational living. Whether it’s housing a young adult or your parents and grandparents, a granny flat lets you keep your loved ones close by. This is a great way to keep your family together and provide affordable housing options for your loved ones.
2. Increase the Value of Your Property
Building a granny flat is a great way to increase the resale value of your home.
A granny flat on your property is an asset and their popularity is only increasing. When it comes time to sell, a second dwelling is your selling point, helping to add value to your property and experience a return on your investment.
3. Additional Income
Renting out your granny flat is an easy, inbuilt source of income. The rental payments you receive from your flat will provide you with consistent passive income.
In addition, the maintenance and upkeep of a granny flat, especially a new one, is minimal compared to other types of rental and investment properties.
4. Affordable Housing and Building Costs
Construction costs of an additional dwelling are much more affordable than a typical single-storey standalone home. When you’re able to utilise existing land, the affordability of new housing is much more accessible for families. This option may be the kick-start that your family needs to house loved ones.
5. Flexibility of Use
An additional dwelling doesn’t have to be limited to guest or rental accommodation. It provides flexibility to create additional space within your property for work from home, business setup or creative spaces.
The council regulations of your area and property zoning will determine what you are able to build. This will include specifications on overall size, distance to main dwelling, whether separate connections from the main house (water, sewerage, power, etc) are permitted, and whether rental is an option.
If what you are looking to build is outside Council guidelines, you can look at applying for a Material Change of Use (MCU) for your property. Council, your town planner, or builder will be able to give you guidance on this process. At times this can be very costly, and the outcome is not always guaranteed to work in your favour.
How do you find out about what you can do? You can contact your local council, a town planner, building certifier and even ask your builder. At Oakvale Homes we have built a variety of additional living options for our clients in several different councils.
Let’s chat about your options. Contact us to discuss further or arrange an appointment in our Gympie or Maryborough Showrooms.