Usable property for a lifetime
Granny flats are becoming a much more prevalent selling point for current living spaces. They offer existing properties greater security especially when they are oriented toward the back or the side of the property lot and they offered the ability to bring in extra income. With changes to current legislation these standalone units can be constructed on your property and rented out to anyone you so choose. The structures are solid, far from the idea of a glorified shed. They are constructed as standalone units on solid foundations with all services connected to them. This means that they are usable property for your lifetime.
Keeping families together
When you create a granny flat on your property with Hallmark – Granny flat builders Perth, you have the wonderful option of keeping your family together. Granny flats were traditionally designed just for aging parents, affording them a place where they could relax. But now you no longer have to rent your granny flat specifically to retirees. Now you have the option of using this existing structure to earn extra income. You can rent it to whomever you please. There are many options available for you including renting the granny flat to your parents, or allowing a growing member of your family to enjoy some modicum of independence by moving onto the back part of your property. Should a child wish to start a life on their own you can still keep them close by and keep your family together while earning extra income. In addition to the tangible income provided by this space, you can also share in amenities, transportation, maintenance tasks, lawn care, and childcare, especially if the person to whom you are renting is part of your family.
Not everyone in their teenage years and early 20’s is able to afford moving out, especially with the price of rent increasing in metropolitan areas and the available land space decreasing. So if you have teenagers in your home who are ready to move out and gained their independence but they are not quite ready to leave the nest, this granny flat constructed by Hallmark – Granny flat builders Perth can work as the perfect teenage retreat. You can afford your teenagers the ability to use this space as a small rental out of which they can enjoy independence and yet still gain some level of income.
Save your family money
With the structures you can save yourself a great deal of money. Granny flats are small micro homes which are fully insulated and standalone features. They are self-contained living units which also provide a living room, bathroom, laundry room, and kitchen. This means that with young adults unable to afford the full cost of moving out, money can be saved by simply moving into the granny flat on the back part of the property. This affords parents and young adult’s independence and extra space. Older family members can also move into the space if necessary and once everyone has achieved independence the space can be rented out with up to 18% yield. Properties which construct a granny flat will put out an average of $130,000 for the building price but after that rent can amount to 15% of the total price. In addition to this the investment itself is quite quick with the process taking no more than 10 to 12 weeks from the moment you sign up to the completion of the flat.
What’s it like to live in one?
Click here, to read a great first hand account of living in a Granny Flat on Domain.com