Also known as secondary dwellings, granny flats are private apartments typically built in the backyard or on the property grounds of a main house. In recent years, granny flats builders like Granny Flat Solutions and granny flats have exploded in popularity across the country for several compelling reasons. If you’re considering adding a granny flat, understanding the benefits can help you decide. Let’s explore why more Australian homeowners are installing granny flats.
Extra Rental Income
One of the biggest drivers of the granny flat boom is the opportunity to earn extra rental income. Whether you rent out the main house or granny flat, having two rentable dwellings on your property provides double the rental potential. Many homeowners cover their entire mortgage plus earn profit through strategic rental of the main and secondary dwellings.
With the granny flat separate from the main home, you also enjoy privacy and space from your tenants. And it’s easy to manage just one rental.
Flexible Multi-Generational Living
Granny flats allow for flexible multi-generational arrangements. As families grow, a separate dwelling onsite offers space when kids need their own rooms. Later in life, it provides elderly parents or young adult children starting out a place to stay close by while still having independence. The design supports changing family needs.
Downsizing Without Relocating
For empty nesters who want to downsize from their family home but not leave their community, adding a granny flat allows you to stay put. You can downsize into the smaller dwelling while renting out the main home, or sell it to create a new primary residence without the costs and hassle of moving.
Granny Flat Guesthouse
Tired of cramming guests into the spare bedroom? A granny flat makes an excellent guesthouse for visiting friends and family. Everyone enjoys private quarters but can come together easily in the main house. It also provides extra lodging for holidays and special events.
Home Business Housing
If you have a home-based business, the granny flat allows you to use the smaller dwelling as your professional workspace, meeting area or workshop. Keep business contained in its own building instead of taking over your living room or garage.
Mortgage Helper for First Home Buyers
Younger buyers trying to break into the real estate market are installing granny flats to offset their mortgage. Even if you can’t afford a full house yet, a modest flat for yourself plus rental income from the main home provides a pathway to owning.
Flexible Space for Life Stages
Granny flats work for all life phases, from young families needing room to grown kids establishing independence to downsizing retirees. As needs change, you can repurpose the dwellings. Use the flat as a rumpus/games room when kids are small then convert it to a grandparents’ retreat later on.
Reducing Environmental Impact
Adding a granny flat allows more people to live on a single property, reducing urban sprawl, infrastructure demands and environmental impact. It supports population growth in a sustainable way.
Conclusion
With countless benefits like extra income, flexible space and multi-generational housing, it’s no wonder granny flats are achieving mainstream popularity. They provide homeowners with options to better utilise their properties. If you’re searching for smart ways to tailor your real estate, a granny flat offers an adaptable solution.
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