Investment or retreat? Why granny flats are on the rise.
Maybe you’re looking for a solution to ageing parents or surly teenager? Perhaps you’re keen to own an investment property and procure a second income stream but don’t quite have to funds to go real estate shopping?
Granny flats = more space
Granny flats are a great way to increase your living space or your property investment, and are gaining in popularity. As property prices rise, and families co-habitate for longer, more and more home owners are exploring the idea of a granny flat.
Building a granny flat is often more affordable than buying into a retirement community, or indeed the increasingly expensive Aussie housing market. It also allows the granny flat owner to keep their assets, thus likely protecting their Age Pension entitlement (as long as the reasonableness test is passed).
A HIA report in May 2019 confirmed that granny flats were growing in popularity and posited that their trajectory would continue upwards as the Australian population aged. The HIA went a step further – with younger generations struggling to get into the property market in some cities, as grandparents died, the granny flats they lived in would make useful dwellings for adult children.
For investors, granny flats help with loan repayments, positively gearing their property and earning a return on your investment of up to 20%.
Of course, everyone’s reasons are different. Whatever the reason for building a granny flat, Granny Flat Solutions aims to provide you with the right solution that suits your needs, lifestyle & budget and makes a positive impact on your life, while making the journey as enjoyable and stress-free as possible.
Granny Flat Solutions are the granny flat experts, with professional expertise and finished case studies for property investors, intergenerational arrangements, young couples and family-run businesses.
Email us today for our free customer guide and to find out whether a granny flat is right for you.
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