Exploring the Benefits of Building Granny Flats

So you wanted to build a granny flat but you are sceptical. For homeowners with enough space, adding a granny flat in the backyard is an excellent investment as it adds value to the property while delivering rental income. Building a granny flat has become popular across Australia. A granny flat is self-contained, mini house built on existing property, which can be custom-built, transportable, and pre-fabricated.

The ordinary granny flat designs have been evolved into a stylish mini home that has various features that make a complete house. You’ll reap the financial benefits of building granny flats for decades. But, they are not the only benefits. Yes, granny flats offer a plethora of benefits to the property owners. Let’s explore the benefits of building a granny flat.

A Consistent Monthly Income

Granny flats are a great investment that can help house owners gain wealth over time. You can rent the granny apartment and make an additional income. Right now, granny flats can offer about $350 per week. With a ROI of 20%, it is one of the best real estate investment options. Build a mini home that has essential features with the help of builders Sydney who are specialised in building granny flats.

Keeping the Family Close

This is one of the major benefits you can enjoy having a granny flat in your property. As your children grow up and family members grow older, you’ll need some additional space to accommodate your big family. The granny flat is an excellent option to maximise your house. Besides, it helps to keep your grandparents and relatives close and together while allowing space and independence. It’s nice for everyone to be close and have their space to rest at night.

Create a Home Office That Offers Privacy

Working from home is not anymore a future trend; it’s here. Adding a granny flat in your property can provide you with the extra space and privacy to keep a healthy life-work balance.

Flexible and Affordable Housing

Although you build a home and live for decades, needs change over time. Granny flats can complement your lifestyle while also offering the right solution to your life’s challenges.

Tax Deduction

While there is no tax deduction if the flat is rented out to a relative or parent, the income earned by renting the flat to a third party is taxable, and deductions are available for maintenance and running costs.

Turning your backyard into a beautiful to your loved ones or earn some extra bucks is a great idea if you weigh all the costs and benefits. Speak to the granny flat building companies Sydney and get the quote.

Need help in building a granny flat? We, Norm Doumit granny flats builders in Sydney, can help you.

The author is one of the best granny flat builders in Sydney.Along with the team of professionals, he assists you with architectural plans and government approvals to construction, completion and hand-over of the magical key. Visit https://quantumbuilt.com.au/ for more details.

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