Granny Flats have long been a feature in many Sydney backyards. In days gone past a granny flat was often a converted garage or shed where parents, in-laws or single adult children would live rent free.
Today’s granny flats are built to a completely different standard for a completely different market. Let me explain……..
The real estate in Sydney, Wollongong, Newcastle, Gosford, Wyong and other NSW regional capitals has three common traits:
- Real estate prices are increasing rapidly
- Rental properties are becoming harder to find
- Rents are increasing rapidly
As a result there is an almost constant demand for quality rental properties which, for the reasons just stated, the real estate market is not keeping up with. With high land prices and escalating building costs the cost price of new dwellings is on an upward spiral. This is where granny flats offer the ideal solution for homeowners and tenants.
Those homeowners who have a house on a block of land which is 450 square metres or bigger may qualify to have a 60 square metre granny flat built on their land.
The rent return on your new granny flat will depend on some of the following:
For example a two bedroom granny flat in Sydney’s Lower North Shore could fetch as much as $950 per week while the same structure in Wyong would get about half that. In other words a granny flat can attract approximately the same rent as a 2 bedroom apartment in the surrounding area EXCEPT the homeowner only has to pay for the construction of the granny flat instead of paying for the land as well.
When you deal with trusted Granny Flat builders who specialise in building granny flats all over NSW you get the whole package. Firstly one of our trained and highly experienced building consultants will come to your home for an obligation free consultation and property inspection. Then assuming your property qualifies our consultant will sit down with you to discuss the appropriate planning, approval and building process required to take your granny flat from concept to completion.
Yes it is an involved process and yes it does require input from experienced professionals and that’s exactly what you get when you deal with Australian Granny Flat Builders.
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