Building a granny flat could be the answer to keeping your extended family close, adding space for your growing family or escaping the demanding teenagers. But what if a granny flat could add financial value to your property? That’s right; your home extension could be your next source of income and boost the value of your home.
A granny flat not only increases the capital value of your property but also has the potential to generate rental income.
Increasing the value of your property
According to CoreLogic and Archistar analysis, more than 204,598 properties in Brisbane and 233,218 properties in NSW were suitable for developing a granny flat. These houses have the unique opportunity to boost the value of their property by 30% with a well-built granny flat.
What if we told you could add a further 20% in income with your granny flat? That’s right, homeowners can choose to rent out their granny flats if it ticks all the regulation boxes.
Even if you’re not ready for a long-term rental commitment, we have an excellent solution for you; AirBnB. By renting the granny flat for short periods, you are tapping into the booming AirBnB market. More and more travellers are looking for accommodation options without a premium.
So why not maximise financial and business possibilities with a granny flat?
How to get started?
It only takes a visit to a credible granny flat builder to start. Clarity on your budget, expectations and design are crucial to establishing a solid plan for the property development. With a myriad of modern designs, luxury elements and customisation your granny flat could be so much more than a mere home extension.