Granny Flat is used to describe “a small, self contained dwelling located on the same lot as another single house”. The government uses the appropriate term but for this article’s purpose, we’re going to be discussing detached granny flats,which are ancillary or secondary dwellings that are independent from the main home but on the same block of land.
The recent rise in popularity of granny flats has been a result of legislative changes in some states that allow home owners to build and rent out these granny flats to people other than relatives. The legislation changes were spurred by the obvious shortage in rental properties and affordable living solutions.
These homes not only take advantage of this growing demand, but they offer asignificant ROI. While helping increasing your wealth, they can also help reduce the stress of a looming mortgage, help accommodate an elderly mother or father and simply isolate that difficult ‘live at home’ teen.
Across states are a number of requirements and regulations that new granny flats must adhere to: Granny flats are limited to a maximum floor area of 60 / 70 square metres which excludes outdoor spaces, and can be built in any residential zone - as long as there is only one main home and one granny flat on the single parcel of land. The maximum floor area of the granny flat and home cannot exceed the maximum allowable floor space ratio of that local councils's environment plan. Most states do not permit subdivision of the granny flat.
More space for entertaining
Typically we see most customers build granny flats to generate another income stream however more and more people are building ‘granny flats’ as secondary entertaining areas. Think of it as your very own penthouse! If you have friends or family staying over, let them have their own space or if you’re having a backyard function, use the granny flat as an indoor/outdoor entertaining area.
Increase the Value of Your Property
Sometimes subdivision is not the most appropriate way to increase your property portfolio value. Rather than going through the lengthy process of dividing up your land into smaller parcels, granny flats offer landlords the opportunity to build a ‘second home’ whilst retaining a large parcel of land. With only a small investment, you can have a second home on your block that will almost immediately increase the value of your property.
Great for the young and old
As your kids get older, they may want a place to hang out with friends and feel a little more independent. A granny flat is a fantastic way to allow teens and even older, a separate retreat to stay without affecting your day to day life.
On the same token, perhaps your own mum or dad need some help with day to day activities and you want to keep them close (but not too close). A granny flat offers all the facilities that your mum or dad could need as well as easy access with the lack of stairs.
Working from home
The economy is growing by the day and more and more people in Australia have begun working from home. The dream! However separating work life and home life can be difficult if your office is in your living room so a granny flat gives you a real ‘office’ feel whilst still being able to make your lunch in the kitchen.
Here at SipForm, we manufacture structural insulated panels and supply to home / owner builders for use in the construction of granny flats.