How Can Granny Flat Builders Sydney Add Value to Your Property?

How Can Granny Flat Builders Sydney Add Value to Your Property?

You have certainly worked hard for your accommodation. A house is a significant investment that requires a substantial financial effort, which is not achievable for everyone. But it can happen that sometimes the space in your home is not enough. What do you do in this case? Many people feel disheartened by the housing market’s current state, but there are solutions.

A radical one might be looking for another house, but another, slightly more reasonable, might be turning to granny flat builders Sydney to assemble an accessory dwelling unit on your property. One or 2 bedroom granny flats can be the ideal solution if you want to make an extra profit, accommodate loved ones or add value to your existing home. But what are the advantages of building such a unit, and why can it be a well-deserved financial help in today’s market? In the following article, we will try to explore these questions and more.

What Is a Granny Flat, and How Does It Differ from a Regular House?

One or two-bedroom granny flats, also known as secondary suites, are self-contained buildings that are constructed adjacent to your existing home. You can think of them as an additional extension to your home, which acts independently. But what are the advantages of such a structure?

As the best Granny Flat Builders Sydney could tell you, the property market in the city has gone crazy, and Sydney has become a costly place to invest in a new home. As a result, there is an influx of people who can’t afford a mortgage on a new property and resort to renting. By building a second home, you can take advantage of the chaos in the housing market and rent out your new structure for a substantial profit. These secondary dwellings can bring in a significant weekly return that will cover the initial investment. Also, if you need a high yield, they can act as a home for you while renting out your central lodging on the estate.

Why Are 2 Bedroom Granny Flats Better Than Building a New House?

Simply put, because they are cheaper. While the median price of a new home breaks new records every year, the cost of a granny flat built by professional Granny Flat Builders Sydney generally hovers around $120,000. A significant variance which can mean potential profit for you.  Another advantage is that for Granny flats, in most cases, no special counsel permits are needed to start construction, and from start to move-in typically takes no more than 12 weeks.

New House

They are called granny flats because these structures’ original purpose was to accommodate elderly family members who needed care. One or 2 bedroom granny flats are great because they can offer the privacy of a self-contained living environment combined with the convenience of being located right next to you. You can give your elderly parents the privacy they deserve while being close enough to act immediately if they need your help.

The Evolution of Granny Flats Over the Years

Over time their purpose has diversified, and today 2 bedroom granny flats have become a staple of Australian homes. They can be the ideal solution if you need extra room for ageing relatives, or they can serve as a temporary home for your adult children until they can find a permanent home. More and more people use these dwellings to generate additional rental income, and it’s a win-win situation in a housing market where it’s almost impossible to find a newly built home at a reasonable price.

Australian law dictates that a granny flat cannot be over 60 square metres but does not specify precisely what kind of facilities it must have. The customisation opportunities are unparalleled, as are the financial solutions available to you. However, most granny flats are replicas of the main houses on the property, the most popular configurations being one or two-bedroom flats.

Why Go for the Best Granny Flat Builders Sydney?

It’s essential to choose a builder with an impeccable reputation when starting any real estate project, and granny flats are no exception. Reputation is a company’s best business card, and testimonials from other customers can prove invaluable. Any discussion of potential one or 2 bedroom granny flats should begin with a company representative making an initial plan for the proposed build, creating a budget and ensuring you have the necessary certification for the construction.

Since the building plan of the new construction is mainly regulated by size, the amenities inside and the floor plan used are within your control. Many people choose to construct a copy of their already built home, but depending on the complexity desired, the floor plan may include even more amenities than the main dwelling. The keywords here are maximising living space and making the desired layout as efficient as possible.

Bedroom granny flats

Using Granny Flats as an Investment in Your Main Property

Building a secondary dwelling is one of the best options to add value to your home. As well as being an excellent opportunity for additional long-term income, creating a secondary residence will add to the market value of your home if you decide to sell in the future. From this point of view, one or 2 bedroom granny flats have become a financial investment alongside a reasonable opportunity to add living space to your property.

The best Granny Flat Builders Sydney can help you make the best decisions for you and your family’s future. A granny flat is slightly less expensive than a new home, but it’s not the kind of construction that could be completed with money collected from under the mattress. For your new detached dwelling to meet the highest standards of safety and comfort, you will need to go to a company with a completed portfolio that is transparent with the costs and time required for construction and who can answer any questions you may have.

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