There are plenty of reasons for the granny flat’s popularity, and it’s not just because they’re a great way to house grandparents.
With housing costs rising and families increasing, more people turn to granny flats as an affordable option. The term “granny flat” describes a self-contained living space typically attached to the main house. The granny flat can be used as a rental property, for guests, or even for aging family members who desire more independence but still want to live close by.
What is a Granny Flat?
A granny flat is a small, self-contained living unit which can either be attached or de-attached to the main house. Granny flats can be used as secondary dwellings, guest quarters, home offices, or rental units.
Granny flats typically have a separate entrance, kitchen, bathrooms, and living area. Depending on the size and layout of the unit, granny flats can accommodate one or two people. Granny flats are a popular housing option for seniors who wish to downsize or live closer to family members.
Why you should build a Granny Flat?
One of the best things about granny flats is that they can provide a great source of extra income.
With the rising living costs, renting out a granny flat can ease the financial burden. Granny flats can provide additional income, but they can also be a great way to house elderly relatives or perhaps even adult children saving for their own home.
Additional Read: House & Granny Flat Designs For The Modern Family
Why are granny flats becoming very popular?
If you’re considering adding a granny flat to your property, Here are some of the reasons why granny flats are gaining popularity:
Long-term investment:
One of the key reasons more people are now interested in granny flats is that they offer an excellent long-term investment. Adding a granny flat to your property could increase the value of your home. This makes financial sense, but it also means that you will have a valuable asset to rent out in the future. One of the main reasons the granny flat grows up is such a popular long-term investment is that it is a very versatile type of property. It can be used as a primary residence, a second home, or an investment property.
Ideal for elderly relatives:
The granny flat has often been seen as the ideal solution for accommodating elderly relatives. It gives them a sense of independence while still being close enough to support them when needed.
Affordable first homes:
Another main reason why granny flats are becoming increasingly popular is that they offer an affordable option for first-home buyers. A granny flat can be built on your property for a fraction of the cost of a traditional home, making it an excellent choice for those trying to get into the housing market, like your adult children.
Adds value to your property:
A granny flat can also add significant value to your property. If you’re looking to sell in the future or simply want to increase the value of your home, a granny flat is a great option. It can provide you with a desirable rental income stream and increase the resale value of your home.
Build a Granny Flat with King Homes NSW
Are you looking to build your dream granny flat? Look no further – King Homes NSW is experienced in designing and constructing quality granny flats alongside our new home builds. Check out our House & Granny Flat collection here
