If you have idle space on your piece of land, a secondary suite or granny flat will be an intelligent property investment. This money-making strategy is currently making waves around the globe with landlords investing every day on granny flats.
It is a perfect strategy to adopt if you wish to generate additional income through rent and improve the valuation of your property whenever you want to sell it. Moreover, they can serve for a variety of purposes like hobby space and home office. They are less expensive and easier to build than doing renovation of your property. Visit granny flat builders for more information.
As earlier stated, it is a new trend in the business of housing as people are beginning to discover that granny flats are no longer rooms meant for packing rejected equipments. They now discover that one can get quality and separate residence in the same building without the need to subdivide. Granny flats are usually self-contained; that is, they possess their kitchen, laundry, bedroom and bathroom.
If you are thinking about setting up a granny flat, you must adhere to the conditions stated below
Granny flats can only be constructed in a residential property zone. This means that, it is illegal in all climes to establish granny flats in commercial areas. They are expected to be built in residential areas.
It is illegal and unnecessary to build a granny flat on an area of land you do not own. That is why the owner of the granny flat should also be the owner of the main house.
Granny flats are meant to be built on individual lands alone. Lands owned by communities, groups and partners, etc. are not required by law in most places to have granny flats.
In most places, there are regulations on the size and weight of bricks used in constructing granny flats. These dimensions and weight vary from place to pace. Visit granny flats Sydney for more information.
There is also a limit to the number of granny flats in most locations. The most common restriction is one granny flat per house.
No one likes to live in a congested and unhealthy environment. That is why it is necessary to establish separate, clear and unobstructed pedestrian access for ease of movement by tenants and landlord.
Just like every other business, you have to weigh various options before setting up a granny flat. You have to check the demand pattern of granny flats in your locality, costs and future prospects of the business.