As granny flats continue to gain popularity in Australia, you might be wondering whether it would be a wise move to invest in one. After all, with modern granny flat designs, you can optimize the available space around your home. With this tiny unit of home integrated within your property, you can earn a considerable income in the form of rent. Most importantly, people residing in granny flats would enjoy the same range of amenities, like the other property.
If you are someone who wants to live with closely-knit family members, granny flats are for you! Whether you want additional living space or need some extra rental income, simply reach out to one of the reputed granny flat designers.
Is investing in granny flats a good decision?
Yes, of course, investing in a granny flat would be a good decision. Read on to know why granny flats Sydney are becoming a popular trend in the city.
- Easy customization
The seamless customizability happens to be the prime reason for the popularity of granny flats. While many homeowners believe that investing in a granny pod would be a costly affair, it is actually a cost-effective option. You can decide the design, materials, and necessary upgrades. Moreover, you can easily blend these properties into your home, considering the design aesthetics.
Depending on your budget, you can go for cozy or appealing designs. Simply talk to a reputed designer for the best granny home design ideas.
- Generate rental income
Many Australians are building granny homes simply because these properties generate passive income. It is easy to pitch granny homes to people willing to stay for short terms, or even tourists. Even if you need to take a loan to build this pod, you can earn a significant chunk back through rental income.
One of the best ways to optimize your income is to move to the granny pod yourself. This way, you can rent out the main home at a higher rate.
- Closely-knit family
Even if you don’t need an additional source of income, investing in a granny flat makes sense. What about staying together with your family, ageing parents, and extended family members? With these flats, you can go for multi-family living around your home. At the same time, there would be no interference with the independence or privacy of the family members. After all, granny flats serve as cheaper options for retirement.
- Boost property value
In case you have plans to sell off your property in the near future, having a granny flat can significantly boost the property value. In Australia, homeowners can enjoy around 25% higher property value with a granny flat in it. On the contrary, a swimming pool in your compound would fetch you only 7% extra.
Besides, a granny flat can enhance the overall property value significantly. Prospective buyers are likely to acquire these properties faster than the traditional ones.
Investing in a granny flat is definitely worth it. However, you need to be choosey with the overall design, prioritizing your budget and aesthetics. Reach out to one of the established professionals, who can help you with design and planning.