If you live in Victoria, and you are building a home, you should consider building a granny flat. A granny flat is a small, complete, additional home on your property. In Victoria, granny flats are becoming very popular because of the many benefits that they offer homeowners. Here are the top five reasons to build a granny flat with your new home.
You Might Want to Have your Parents Come and Live With You
As your parents get older, they become less mobile and likely less able to live by themselves. Many people decide to put their parents in assisted living facilities. This option can be very expensive and does not guarantee that your loved ones will get the care and attention as they deserve. A better option for me is granny flats.
Having your parents live with you on the same property but not necessarily in your house, might be the Best of Both Worlds. They can have their own separate living space, with an entrance and all the amenities needed, and at the same time they are only a few seconds away from you whatever you want to see them, or there’s an emergency.
It is a Great Transition Home for Young People
Do you have teenagers who are going to university, or will work and are considering moving out of your home and getting your own place? Are they really ready to live on their own, and do you trust them to be completely unsupervised? Perhaps they are thinking about moving in with roommates who you do not necessarily trust.
One good option for you is to build a granny flat on your property where your young person can live. This is a great transition living arrangement. Your young person can have his or her own living space, complete with their own entrance. They can pay rent, buy their own groceries, toiletries and even cook their own food, and you can oversee and step in when they fall short. It gives them a great chance to develop their living skills, in a safe environment, where the family is close by. When they are truly ready to have their own place far away from you, you can rest assured that they will be prepared. Or they might decide if they like living close but not with you, and they may stay on the property.
You Can Rent it out for extra Income
If you don’t have kids or parents for your granny flat, or if parents or kids use it for a short while and then leave, you can certainly use it as a property rental. Because the unit is completely self-contained with a full kitchen, bathroom, living area and bedroom, you can rent it out at a good price. Of course, you have to make sure that where you live Lounge for these types of rentals, and you have to make sure when you build your granny flat, that you use the highest quality materials that can form to rental safety standards.
It Will Increase the Value of Your Home
Anytime you upgrade your home, you likely increase its value. However not all things did you do for your home increases the value equation. For instance, updating the family room or bedrooms of your home will not increase the value as much as if you upgrade bathrooms or the kitchen in your home.
The biggest upgrade that you can make on a home is to add an addition to it. This might mean adding an additional bedroom, bathroom, or putting in a bonus room. If you manage to add an additional complete structure oh, you will add even more value to your home. Structures like granny flats cylinder this last category and will cause the value of your home to increase substantially.
You Can Live in it and Rent Your Home
After you build your granny flat you might decide to go small and live in it. If you do, you can rent your main home to someone and the rent will likely pay the bills on your entire property. You might not take this path initially, but you might do it after a while when you get older. Either way, you will always have the option.
There are so many good reasons to build a granny flat when you build your main home that not doing it seems like a really bad idea.