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The popularity of granny flats is increasing day by day because of obvious and not so obvious reasons. You may have seen a lot of granny flats Victoria wide built inside homes. Why are these small homes built? What exactly is the purpose of building these flats? Well, these flats opt-out some great advantages to your side if you build one. In this blog, we will discuss some of the reasons why you should build a granny flat in your backyard.

What is a granny flat?
Before moving further, what exactly is a granny flat? A granny flat is a self-contained secondary flat that is built on residential remises. The main condition is that the owner of the granny flat must own the primary residence where it is constructed.
Here are some factors and standards you need to consider before you build a granny flat.
  • Granny flats can be built on a property that is at least 45 square meter in size.
  • These small granny homes can only be built on residential property and not on commercial, subdivided or unoccupied land.
  • You can build a granny home with a limited size of 60 square meters.
  • The flat must have a separate entrance, bathroom, living space, kitchen and an outdoor area.
  • The primary residence and the granny flats can share a backyard, pools, patios and outdoors.

 

What does it cost to construct a granny flat?
You may have seen a lot of homes in Australia with backyards turning into secondary dwellings. The popularity of granny flats is increasing because of depreciation benefits and affordable accommodation. Also, it takes only a few weeksto build one for you in a budget of $100,000 approximately.
Moreover, you can buy kits of granny flats that may cost you around $600,000 which can take hours to days to assemble.
If you don’t have great knowledge about this, you can hire a professional or a company. They will help you build a granny flat as per your likings. You can contact several reputed and licensed builders and get services from one that offers the best deal.
Renting out your granny flat
If you are looking for additional income, a great opportunity is to build a granny homein your backyard. However, this way you may have to face long vacancy periods andlow rentals for the granny flat.

If you want rental income you have to consider some factors when building one in your backyard like choosing a design to minimize privacy issues because the tenantswill share some of the areas with the primary residence on the same block.

Additionally, granny flats are known to be the best option for old parents or young kids who want to move out for the first time because these small homes provide the right balance of independence and the company of loved ones. Also, these homes are best for students and newlywed couples that aren’t able to afford hefty rentals and deposits.

One thing that you should keep in mind before building a granny flat is to check the demand in your area. You can check this by seeing the property report. Like any other property, areas that have easy access to amenities would command high rents

No worries of neighbours

If your parents, you or your kids are moving to the granny home, the best thing is that there is no issue of having bad neighbours because the people living beside youwill be your loved ones, which is a great thing.