One of the biggest shifts in the housing market has been an increase in demand for secondary dwellings and granny flats. We believe that with this shift our town of Armidale and its property owners have the opportunity to capitalise on their land by building a secondary dwelling and reaping the short and long-term gains of building a secondary dwelling.
The two primary motivators are people looking to start their real estate portfolio with a low-risk endeavour and families looking to accommodate older children or grandparents as the market continues to shift.
Regardless of your motivation, there is quality land in Armidale and it is time to capitalise on this trend. If you have the land, it is time to explore your options.
The first thing you'll need to do is check with your local council about zoning and planning regulations. There may be restrictions on how big or tall your secondary dwelling can be, or what materials you can use. Make sure you're aware of these restrictions before you start planning and designing your new space.
For some property owners, the idea of starting your real estate portfolio may be a primary motivator for exploring your secondary dwelling options. Generally, secondary dwellings will cost between $100,000 - $150,000. When comparing this price to the cost of another house and land package it is obvious that building a secondary dwelling is a low-risk endeavour.
This small yet significant investment may be the step to take in starting your real estate portfolio journey.
We are seeing it become harder and harder for young families to be first homeowners. We are also seeing complications arise with housing the elderly increase in our country. These two challenges may also be motivators for building a secondary dwelling on your property.
Regardless of the motivation, a significant benefit of a secondary dwelling is that they come with both short- and long-term financial opportunities.
Generating income through your property is a handy short-term benefit for creating a secondary dwelling. This passive revenue may be utilised to offset your current mortgage or create income.
There is no doubt having a secondary dwelling on your property will increase the long-term value of your home. When it is time to sell, you will have an attracted property for the market by having the additional revenue creator already built on your property.
Integrity New Homes saw the demand and went to work creating five new standard designs to promote to potential buyers looking to build a secondary dwelling or granny flat. These five designs range in function and size to assist you in deciding what is the right build for your property.
And if these five designs aren’t what you’re looking for, use them as a starting point and customise the designs to suit your property. All our standard designs are customisable. We want to collaborate with you in building the right dwelling for your property.
We aim to create smart layouts that maximise the small physical footprint a secondary dwelling traditional utilises. By building smart, we can create quality secondary dwellings that feel homely and functional.
For property owners in Armidale and the surrounding area, there is an opportunity to capitalise on your excess land by building a secondary dwelling or granny flat.
If you are interested in building a secondary dwelling, please contact us by clicking here.
Below are links to the standard designs we have just released.
