You may have extenuating circumstances that require you to build a granny flat. For starters your adult children can make use of your granny flat on their way to financial independence. Thus, allowing them to save on a home deposit. Moreover, you can use your granny flat to accommodate your aging parents, without infringing on your privacy. In addition, you can lease out your granny flat and therefore earn some extra income. But before you rush to call a contractor here is what you need to know before building a granny flat.
What is a granny flat?
Have you ever wondered why it is called a granny flat? To start with, a granny flat can be viewed as an accessory dwelling flat. In essence, a granny flat is an extension of your home that is made into suitable self-containing accommodation. A granny flat is a particularly popular way for families to accommodate their aging parents. Moreover, a granny flat can either be detached or it can be attached to the main structure.
Reasons to build a granny flat
One of the greatest reasons for constructing a granny flat is to boost your property value. On average, the addition of your granny flat can increase your property value by approximately 30 per cent and your rental income by 27 per cent. You may also consider buying a granny flat to provide your parents with a place to age gracefully. In addition, the addition of a granny flat can significantly help your children attain financial independence. When your adult children live rent free in your granny flat they can save for other obligations and financial commitments. Whatever your reasons for building a granny flat, keep in mind that it is not a decision to be taken lightly.
Are you allowed to build a granny flat?
In the event that you have decided to go ahead with building a granny flat on your property, then you have to assess if you are allowed to build one. Start by visiting your local council to ascertain if your property meets the minimum requirements. Each council has different requirements, guidelines, as well as diverse approval hoops to jump through. With this in mind, ensure that you carry out sufficient research to ensure that your project is within the legal approved framework.
What features should a granny flat include?
There are various ways to undertake your granny flat construction project. This is the same for most building projects, there’s no single way build a property. Rather, focus more on your budget and meeting your personal circumstances when considering the features to include in your granny flat. It is also crucial to maintain privacy when you build a granny flat. At the end of the day, keep in mind that your granny flat should not only be sensitive to privacy, but should also feel like a small house.
How much does a granny flat cost?
Needless to say, the cost of construct a granny flat varies from project to project. The cost of building a granny flat is primarily dependent on your specifications and requirements. The process and procedure for building a granny flat is no different to building a home. In addition, the contracts and paperwork for building a granny flat are similar to those used for constructing a home.