The humble granny flat is making a comeback in Australia. This might be thanks to rising house prices or the popularity of Airbnb. Whatever the reason for the resurgence we think granny flats are great. Here are some reasons you should consider investing in one for your home.
Granny flats are an affordable way to add extra living space to your home.
If you need more living space but can’t decide between home renos or moving, why not consider a third more affordable option of building a granny flat. The cost of building a granny flat will depend on size and design but for the most part, a granny flat is likely to be a more affordable way to add more living space to your home.
A granny flat can be built quickly.
If you’ve suddenly found yourself feeling crowded in your own home, a granny flat is a quick and easy way to extend your living space. Superior panel gives you the option to design your own or pick from standard designs, which means you can have your granny flats finished in a matter of weeks.
A granny flat adds value to your home.
A granny flat will almost always add value to your home. This is especially true if you live in major Australian city where extra living space is highly coveted. According to Ron Gedeon, of RPG Valuers, a granny flat has the potential to add a premium of 20 to 30 per cent of what it costs.
A granny flat is the perfect addition to a family home
A granny flat will almost certainly come in handy as your family evolves over time. Due to rising house prices, many young people continue to live in their family home well into their 20s. A granny flat allows your kids the privacy they need to continue to live with you and save money while they study at university or save for a home. If you have an aging parent or parent-in-law a granny flat allows them to maintain some independence while being close to family.
Make some money on the side with Airbnb.
If your granny flat isn’t being used by family or friends why not rent it out on Airbnb? This is a great way to make some extra pocket money.
A granny flat can be used as a home studio or office.
These days more and more people are choosing to work from home. A granny flat can be turned into an office or a studio so you can have space and privacy to get your work done without having to leave home.
If you are looking to invest in a granny flat check out Superior Panel’s options for standard designs or talk to us about designing something that is specific to your needs.