If you are looking for a safe property investment in Australia, then a granny flat could be your ideal solution.
While the regulations for the building and renting out of granny flats varies from region to region, financial planners argue that a granny flat is an affordable way to add value to your home and safely invest in a rental property. Put simply, it’s the accessible and practical way to maximise the value on your home, by making use of the asset you already have – your backyard. Saved from any risks or hassles of buying new property, a granny flat creates an easy way for everyday families to enter the property investment market. Not only will you be benefiting from an affordable accommodation solution and opportunity for rental income; but you will increase the value of your home.
The granny flat is also an ideal solution for families with young adults who can’t afford to move out of home yet, but allows independence and extra space from parents, as well as future rental opportunities. Alternatively, if you are looking at a granny flat purely as an entry way into the property market, this is your safest option.
The current property market is described as experiencing low sales and diminishing capital values, against growing rental revenue.
In this property climate, the safest investment is in a property with strong rental returns with minimal exposure to the usual risks of a turbulent or deflating property market. Parts of Australia have seen an ease on granny flat legislation, introduced as a way of providing more affordable accommodation opportunities for the elderly, singles and couples. In particular, this has taken place in expensive metropolitan areas with land shortages.
As further proof of a safe investment, the government has projected single-person households as the fastest growing area over the next 20 years. With the addition of a granny flat, you can reap the benefits of starting with a positively geared investment, removing any fear from taking the leap into property investments. A granny flat can provide home owners with their own rental property, without putting them in substantial debt, all within the ease and comfort of their own backyard.
To find out more, give us a call.
We’re happy to find a solution that meets your needs. Call us today on (07) 3367 8222.
*Note: The information provided on this website does not constitute financial advice, or take into account your personal or financial circumstances. Please speak to your accountant or financial planner.
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