1 / 8

4 Benefits and Uses of Granny Flats in Wollongong

Need to renovate your building? Thinking about adding new rooms or fixing your kitchen and toilets? Southern Additions is the perfect place to come to.<br><br>

southernaddition
Download Presentation

4 Benefits and Uses of Granny Flats in Wollongong

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 4 BENEFITS AND USES OF GRANNY FLATS IN WOLLONGONG WWW.SOUTHERNADDITION.COM.AU

  2. Have you ever thought of making an addition to your home? What about adding some form of accessory dwelling unit like a granny flat? Are you unsure that granny flats in Wollongong are the right choice for your home? Therefore, we will help you make the right decision in this blog. So, any home that needs a little more space than granny flats is a great addition and choice. However, they help you and your family and your elderly ones. It is a secondary place of living. One can attach it as the property's main house, a garage, or can exist as an overall separate structure. It is no surprise that granny flat's popularity is rising, a growing trend. Granny flats have all the features of a home. For instance, it includes the living room, kitchen, bedroom, bathroom, etc. Hence, people can find all things in a cozy, comfortable space. Moreover, granny flats are a fantastic accommodation option for aging parents or good guest houses. It gives you the ability to utilize every inch of your property. Thus, it fits a functional home into the smallest of spaces. Apart from that, investing in granny flats has many financial benefits.

  3. SOME ESSENTIAL BENEFITS AND USES OF GRANNY FLATS: Most property owners are more creative with the modern housing demands to maximize space and profits. Most importantly, among the growing trends in the property sector is building a granny flat. A granny flat is a housing unit that is suitable for older people. Hence, it has such facilities that cater to the need and make life easier for older people. There are also some risks in building granny flats. For instance, whether the granny flat is new or you are renovating an existing apartment, it can cost more than you expect. Similarly, there might be some maintenance to tenant issues, etc. However, granny flats have many benefits, and the advantages outweigh the risks.

  4. The following are the four benefits and uses of granny flats in Wollongong. ADDITIONAL INCOME FROM A GRANNY FLAT: Life demands are increasing day by day, and if you feel that you cannot meet them, then granny flats' additional income comes in handy. The significant benefit of a granny flat is that one can easily rent out this facility to raise their extra income. Moreover, with additional income from a flat, one can easily offset some loans or mortgages. Modern designers focus more on granny flats and make them attractive to rent them out quickly. Hence, granny flats are an easy way to gain some extra income.

  5. ADDS PROPERTY VALUE AND INCREASES RETURN ON INVESTMENT: Most buyers will look at the benefits when you are selling your property. Any additional structure like a granny flat will bring value to the buyer. In modern times, a granny flat will get a good return on investment. Considering the advantages of granny flats, the property owners aim to develop more such facilities in the future. In this way, the rental price will become more stable, making it a more attractive market. Some research studies show that adding a second house to your property will increase the value of that place by 20-25%. If we compare it with the stand-alone investment property, then granny flats have very minimal ongoing running costs: There will be no conveyancing costs and stamp duty if you own the property. There might be small mortgage payments like a slight increase in building insurance and occasional maintenance item. Tenants can pay the water and electricity meters costs. The fees of the land tax and rates don't change.

  6. KEEPING FAMILIES CLOSE AND TOGETHER: Sometimes the hustle and bustle of life will take people to situations where the elderly are not with their loved ones anymore. In the cities, homes for elderly or old age people are ordinary. But, old homes may not be the best place for them to spend their life. Therefore, the granny flat provides them with the opportunity to live closely with their family members. Hence, this gives them extra care and comfort in their sunset years.

  7. USE IT AS A GUEST ROOM: The granny flats in Wollongong can also be a good space for your guests so that you can turn them into a guest room. It will serve a good purpose when you have an influx of occupants at home. Thus, it will give guests more comfort and privacy within your compound. However, to make it a guest room, you have to make some adjustments to cater different needs of the guest.

  8. CONTACT DETAILS: Sutherland 02 9545 3031 Wollongong 02 4229 9855 www.southernaddition.com.au

More Related