The granny flat concept suddenly saw a resurgence of interest just a few years ago. There are more than a few reasons why you should build a granny flat. In fact, these are the perfect buildings for families, investors, the retired, or anyone with a bit of creative fun in his or her heart. To understand exactly why these are so popular, you must understand the many reasons they are built.
Greater Investment Returns
If you build a granny flat to rent it out, studies found that up to 20% returns were made last year alone. This is true even if you decide to live in your granny flat and rent out the larger home. If you want a steady income to help cover some of your larger bills or want to invest in something worthwhile, granny flats are the key to riches.
Approval Not Necessary
It can take months to obtain the necessary approvals to build a new home or extend an existing property. Often, this is the difference between profit and loss. If you have ever dealt with demanding building codes, you know better than most how important it is to save as much time as possible. Granny flats have certain requirements they must meet, but there are no approvals necessary to begin construction.
House a Senior Family Member
Granny flats were traditionally built to house the elderly members of a household. This was a place they could live separately from the family and enjoy some freedom without moving too far out of reach should they need help. In fact, this is where granny flats received their name. A reputable granny flat builder near you will know exactly what to add to your flat to create a comfortable, peaceful location for your loved ones. With a granny flat, they can retain some of their independence and possibly stay out of assisted-living facilities for a few years longer.
If you often work from home and have a family, you likely have to find a way to focus around all of the noise and business of the household. A granny flat is the perfect way to remove yourself from these distractions without actually leaving your property. For many, a space to work outside of the home might seem like a luxury out of reach. The brilliant truth is that a granny flat can provide just that within almost any building budget.
If you have one or more children in your home, they can be more than a handful. This is especially true of teenagers, and a granny flat is the perfect way to offer them a place to play and entertain themselves away from the house. After your first evening in a quiet, peaceful home, you will wonder why you ever waited so long to build a granny flat in the first place.
Teenagers believe they know it all. Give them a place to stay and charge them the cost of electricity and water. This will allow them to safely learn about the responsibilities of living alone without putting them at risk. If they fail, you can always turn the granny flat into your own personal home away from home.