When thinking about granny flats, many people picture those old-looking homes that offer little to no space for a comfortable living. However, this myth needs to be debunked. A secondary dwelling doesn’t have to be old or outdated, it can look modern and chic.
What Is a Granny Flat?
A granny flat is a secondary accommodation, built on the same lot as the main house. Its name comes from its traditional purpose. It was originally designed for families to accommodate the elderly parents that wanted to stay close to their children.
It’s important to be aware of the legislation regarding owning a granny flat. The NSW Government allows the construction of secondary dwellings in residential areas. That means, for a real estate investment on Mid North Coast, you will need a development approval that states that your granny flat complies with the general regulations.
However, the benefits of owning a secondary dwelling shouldn’t be limited only to the proximity to relatives. It offers multiple advantages that can even make one’s everyday life easier.
Let’s explore the top six reasons you should consider building a granny flat.
Stay Close to Your Family and Friends
Now, this was the main, original purpose of granny flats. You get the chance to stay close to your elder family members. That way, if they need care or if there’s an emergency, you are there to help them.
However, an extended family shouldn’t refer only to the elderly. When children reach the age of 18, many families go through the “empty nest” transition, because their ‘now adult’ child looks forward to moving out. A granny flat can make this process smoother, by allowing teenagers and young adults to live alone without being far away from their parents.
This concept also applies to the moments when you want to invite your family or friends over, but you don’t have enough space in your home, or you didn’t have time to clean the entire house. A granny flat will be a lifesaver in this case. You can quickly assemble and arrange a table, put some decorations on, some background music, and you will get to experience a cozy night with your loved ones without worrying too much about the preparations.
A Temporary Accommodation While Your House Is Being Built
Building a home is not an easy procedure, even when you are not the one using the bricks and tools. Being around when your house is being built is a great opportunity to interact with the builders and to express your opinion about certain materials and designs.
In this case, a secondary dwelling can be a great way to observe the home building process while still keeping a distance and allowing the builders to do their work.
Flexible Functionality
The great thing about a granny flat is that you can change its purpose whenever you feel like it. Let’s say you originally decided to build a granny flat because you wanted to use it as temporary accommodation while building a home.
After you move into your new house, you can transform your granny flat into a studio or a storage place. If you want to save time and avoid traffic, you can use it as a work-from-home office, or, if you want to earn some extra cash, you can even rent it. It all comes down to your priorities and your creativity.
Increased Home Safety
Knowing that your house is in good hands is such a relief, especially when you know you’ll be away for a while. Many people feel wary about going on holidays and leaving their houses unattended out of fear of theft. Now, if your relatives live in a granny flat right next to you, this won’t be a problem anymore. You won’t have to wonder if you left the iron plugged in or if you closed the door on your way out. You can just ask your relatives to check.
Having loved ones close is also a great advantage for pet owners. Being away for an extended period of time comes with an important issue: Who is going to take care of the pet? Thanks to granny flats, your relatives will be just a couple of steps away from your house to make sure your furry friend is well taken care of.
It Adds Home Value
Granny flats are also a great deal for investors and real estate agents, with the increasing popularity of passive income through house rent and real estate investment. If you are planning on renting your house or even selling it, a secondary dwelling on your lot can add significant value to your home. And not only that. You can actually rent the granny flat, while you are living in your main home.
According to Archistar, secondary dwellings generate an income between $13,000 and $18,000 per year. This means homeowners can earn an income of about $280 per week just from house rent. And certain regions are more profitable than others.
For example, The Mid North Coast is attracting more and more homebuyers, with an increase of almost 129% for views-per-listing, making it a great location for a real estate investment.
So, saving some space for a granny flat while you are building a home can actually be a great investment for the future.
Make the Most Out of Your House Lot
Owning a secondary dwelling has the potential of bringing so many benefits to your everyday life, from extra money thanks to house rent, to close proximity to relatives. However, many people feel discouraged to pursue this idea because of the costs and the lack of design ideas.
Where to from here?
We are here to help you!
We service the main areas of the Mid North Coast and we offer a variety of design ideas you can customise according to your goals. You will be able to plan every detail with a building consultant and be constantly aware of your home building process.
Contact us and let’s discuss the granny flat of your dreams!
