In recent years, building backyard cabins and granny flats became a sort of cottage industry in various places across Australia. This is because aside from homeowners building their own granny flats and backyard cabins to house their aging parents, there are now companies that specialize in creating customized versions of these accessory dwelling units or ADUs.
ADUs can be categorized into three: first is the detached version or the standalone model. This is basically a unit that is built in the same lot as the main structure. Next is the internal ADU, which is a portion of the main dwelling that has been converted into a granny flat. Finally, there is the attached ADU, an accessory unit that is neither stand-alone nor internal. It’s simply a granny flat that is built as an extension of the main dwelling.
But what are the benefits of building a granny flat in your property? You might ask. Well, here’s why having a granny flat in your property is a great idea:
They could spike your property’s value
It is estimated that there are over 500,000 properties located along the country’s eastern seaboard with ample real estate for granny flats. Further, having granny flats alone could raise a property’s market value by up to 30%, as well as increase income from rent by as much as 27%.
So, whether or not you intend to sell your home in the future, having a granny flat will serve as a dual-purpose investment on your part: you’ll have a place for your senior parents or in-laws plus you’ll have a higher property appraised value. It’s a win-win situation.
You’ll stay close to your aging parents or in-laws
As mentioned, granny flats are primarily built to house parents and in-laws who are already in advanced age. Having them near you should offer you peace of mind knowing that should there be any emergency involving them, you will be just a few feet away to help. This will also make their quality of life better, as they can be well taken care of not by strangers but by family members.
You can use them as a source of income
Granny flats can serve as your main or supplementary source of family income since they can be rented out. There is a growing number of property owners who are investing in the construction of low-cost granny flats in their lots as more and more people are looking for a cheap place to rent.
Granny flats are particularly in high demand at highly populated areas like Sydney where traditional apartments can be priced too steeply for most tenants to afford.
You can teach your teens to become independent
While they may be called granny flats, they can actually serve as a separate dwelling for your teenage children. This way, you can teach them how to look after themselves but without the hassle and worry of having them far away from you.
They could serve as facilities for your guests
If you frequently invite guests from other areas such as friends, relatives, or colleagues, a granny flat can be a great solution. You can still show your guests your hospitality while keeping your family’s privacy since the guests are housed in a separate dwelling.
With these benefits, you should strongly consider adding a granny flat in your property. Just hire a company that offers customized granny flats at a relatively low price for this purpose.