A granny flat is seen as a smart investment that can increase your property value and add some money to your monthly income. The two bedroom granny flat unit is located on the same block and often used for renting out for an aging parent. The growing popularity of granny flats points to the increasing interest of homeowners or property owners.
Before you build a two bedroom granny flat
Every state or council has certain rules and regulations for granny flats, and you need to maintain all building codes during your construction. Thus, for those who are thinking of building a two bedroom granny flat, they must understand the regulations as there are different guidelines to adhere to. These secondary dwellings are a great way to build separate spaces for adult children and parents and keep them nearby.
What are the advantages of building two bedrooms granny flat?
Browse for suitable two bedroom granny flat plans based on your budget and needs. But before you look for a builder, you need to focus on an important question and find out if you are allowed to build a granny flat. Just because your neighbor has one doesn’t necessarily mean that you would be allowed to build a two bedroom granny flat in your backyard. Each state and territory have different laws and guidelines regarding the granny flats. Discuss the options with the local council and builders to know the regulations applicable to your area.
The next essential aspect to focus on is the two bedroom granny flat cost. Generally based on the current forex exchange values and the real estate markets, the costs can range from $20,000 to $200,000-or more. A lot will also rely on the kind of two bedroom granny flat design and the quality of materials and workmanship used. There are modular and transportable granny flats that are cheaper. Just browse for two bedroom granny flat for sale. Then you can choose some prefabricated two bedroom granny flats online and compare their prices to choose an affordable one.
Now that you have decided to build a granny flat, you need to resolve if you want to get a customized granny flat from scratch or get a prefabricated unit. Deepening on the complexity of the two bedroom granny flat floor plan and design, it can take at least 12 weeks to build. You may also have to wait to get the floor design and plan approved by the local council. That itself may take up to eight and ten weeks.
It is a good idea to keep the house and floor plans ready if you are planning to get a loan for the granny flat or to process a home loan application. Some banks cater to finances for the development of granny flats. When building a granny flat for your family members, it is essential to be clear on the ownership of the property. Ownership is a key issue, especially for those who are building the two bedroom granny flat for their parents or children.
There is a great demand among the working-class who looks for a two bedroom granny flat complete with kitchenette and bathroom. Most homeowners prefer to rent out the two bedroom granny flats because they can recover their construction cost by renting out their granny flats for a few years. They can bring in as much as about $700 per week in rental income. Because of the crisis of housing affordability, there is a significant increase in demand for granny flats. So you can easily earn some income by renting out your granny flat.
Even you can use your granny flat as your office or guest room. If you have two bedrooms granny flat in then you can also use a room for your storage.