Granny Flats – A Backyard Moneymaker
Granny flats are now a backyard moneymaker. While historically these flats were intended for aging parents as a place where retirees could relax the laws have now changed such that you can rent out your granny flat to non-family members. This means that if you have an existing structure you can rent it to somebody and start earning extra income. If you do not have an existing structure but you have the space for one on your property you do not have to divide that space and you can instead hire Hallmark Developments to create a granny flat from start to finish which you can then rent to whomever you please.
Registered builders who specialize in home additions can make sure that your granny flat will improve your existing property value. You can have a design cultivated which blends the granny flat into your existing home even if it is still a self-contained unit.
Low Build Cost and High Rental Return
Granny flats are a terrific investment opportunity, often providing a rental yield somewhere between 13 & 20%. The building cost is quite low, even for a high quality, double brick construction, yet you can still receive high rent returns which more than cover the building costs.
For example:
$19,240 ($370/week) / $130000 x 100 = 14.8%
Quick Build Time
Another great benefit to building granny flats on your property is that it is a quick investment. Many investment projects take considerable time to put into action and even longer to start seeing a pay off, but granny flats are different. From the time you sign up with a professional company until the project is complete lasts between 10 and 12 weeks. That is a relatively short timeframe and once it is complete you can begin renting the property immediately and seeing the money flow. There are very few investment opportunities available today where this is a possibility.
When you decide to integrate a granny flat into your home and property you should look for a professional company that will handle all of the work for you. You do not want a granny flat that is simply a transportable dwelling placed on your property. Granny flats should be custom designed to suit your needs and blend in seamlessly with your current yard and property design. You want a Granny Flat that is built from scratch such that you have control over the design specs. You want a professional company that will take care of the project from beginning to end and will show you design sketches as they start the project and will be available for questions during the construction. By choosing to build Granny Flats through Hallmark Developments you have ensured yourself a quality micro home that is fully insulated, that all services are connected, and that the only thing you have to do is move-in.
Why not call us today on: 08 9408 6399 or send us an email with any queries: info@grannyflatbuilderwa.com.au