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.
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.
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
If you're considering adding a granny flat to your property, Here are some of the reasons why granny flats are gaining popularity:
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.
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.
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.
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.
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.
Additional Read: Questions To Consider Before Selecting A Builder
Would you like to chat to one of our home building experts about your new home ideas?
Simply enter your details to begin the journey towards your new home.
Would you like to chat to one of our home building experts about your new home ideas? Simply enter your details to begin the journey towards your new home.