These days, having Granny flat is becoming the trend in Australia. It provides the tremendous opportunity for the homeowner to use an often unused yard of land for investment or boost property value.
What is Granny flat
The term originated from past where people used to have a
separate home for aging parents at same block.
But don’t dwell on word Granny flat, it is just your another home you can use to make the profitable investment.
Granny flat can be the profitable investment.
Adding granny flat to your backyard can help you in two ways.
● Property value boost
Rental: You can put it for
rental. It will help you in having extra income. Plus it is affordable to
people as well.
People are finding it easier to find a tenant with apps like
Airbnb. You can also go the traditional way and hire an agent to find the
Property value boosts: Granny flat can increase your property value as it will be a great investment opportunity for the buyer.
How to build and design granny flat
Now, the question comes to how you can be resourceful and design
Here is step by step
Step1: Check out your
In Australia, legal procedure and rules are different for each
state or even council to council.
So if you stay in
Thornlie, Perth then the laws of building Granny Flat will be different
In fact, in some states, it is not allowed to build granny
flats. But that’s rare.
Make sure you do all
legal formalities and get your Development Application (DA) through the
This procedure can take around 4 to 6 months depending on where
Step 2: Make a plan
It’s time to plan, How would you like to design your flat? It
depends on your block size and budget.
There are various
Granny flats designs. Most people prefer 60m2 size flats as its
and quicker to build.
It’s also important to make sure you decide where to build the
flat. The last thing you want to do is to create something that will mess
with your existing engineering.
Things like where are sewers, easement or stormwater drains plus
how many rooms you want to build etc.
Step 3: Execute
Take everything you did so far and implement it. Find the
builder who can engineer it cost-effectively.
Before hiring the builder, take reviews from his past clients,
check his previous work etc.
You flat can be ready for 8-12 weeks and It can cost more than
So what’s bottom line?
Granny flats can be the great investment opportunity for you.
One should look into this option if you want to grow your finances in long
Your turn, let me know
in the comment your thoughts.