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Top Advantages and Immense Benefits of Granny Flats

by | Jun 15, 2019 | Real Estate

Thinking of building cheap granny flats western Sydney, then you should immediately go ahead with your idea because of the many advantages you can gain through it and get the best end results. Let us see some of its top benefits:

Advantages and Benefits of Building a cheap granny flat western Sydney

Granny flats are compact living solutions built on your own property either attached to the existing property either to your main house or an extension to your garage or detached flat. Here are some of the top advantages of investing in a granny flat

Granny flats can be built on a budget– A two bedroom granny flat with a combined washroom and laundry can roughly cost around 65 thousand dollars. However, when you want to create an individual new home you cannot wind up in less than 100,000 dollars to 150 thousand dollars which is more than twice the cost.  So, they are less expensive than building or buying a new home.

Granny flats can be constructed within a faster turnaround time– With a lot of inventions in the construction business, when you want to go for modular flats, they can be done at a much faster pace. The site work and the construction can happen simultaneously and can be completed in a much shorter interval of time. Moreover, cheap granny flats western Sydney approval is faster and takes as little as 10 days and the total construction takes up to 6 weeks depending on your flat design and size.

You can have a close-knit family– Granny flat which provides the advantage of having the family close without spread into different houses. This self-contained structure can provide accommodation for old aged parents, extended family and teenagers without interfering with your privacy or independence.

Granny flats are ideal sources of income– Cheap granny flats western Sydney are excellent sources of rental income and it can certainly increase your rental yield by 10 percent. Using this money, you can pay your mortgages and stay relaxed from the piling debts. This not only adds value to your property and becomes a favourable addition instead you can yield their benefits before you sell them.

Custom made for creativity– Many homeowners often wonder how to convert their unusual or small space in their back yard into a granny home however you need not worry about that. There are custom built granny flats that can be a perfect fit for any home irrespective of their size. The main aim of custom homes is to maximize the space without affecting the aesthetics of the house.

Conclusion

In addition to paying steady income and maximizing the rental return to the homeowners, it can also serve as a great tool for negative gearing. Most homeowners’ regard cheap granny flats in western Sydney as a long term investment.