How Can A Granny Flat Add Value To Your Property?

What Is A Granny Flat?

The word "granny flat" may conjure images of a lonely grandmother peering out of a basement window. However, the term and our understanding of its meaning have changed considerably. The phrase "granny flat" was likely borrowed from England's Victorian era. Historically, it was the home of a widow who had to leave the main house and move to a smaller dwelling on the estate to make room for the family heir.

In today's world, a granny flat is not limited to acting as housing for elderly grandmothers or bereaved widows, as is the more widespread belief.

Granny flats are utilised for various purposes, including home offices, rental properties, art studios, and supplementary lodging for guests, relatives, teenagers, and, yes, even grandparents. 

In Australia, you might also hear people refer to them as all acceptable terms.

• Casita
• Kit house
• Bonus unit
• Fonzie flat
• Carriage unit
• Granny pod
• Tiny House
• Garden studio
• In-law apartment
• Accessory apartment
• Mother-in-law unit
• Accessory dwelling unit (ADU)

A granny flat might be an attached structure to your main house or a separate building in the garden. Depending on the rules in their communities, some homeowners even turn their basements, garages, or attics into granny flats. The quantity of room you have to work with and the legal constraints in your area will determine how you should go.

The floor plan for a granny flat could be arranged as a studio or have one or even two bedrooms. Because these areas are designed to function as homes on their own, they typically include a fully equipped kitchen and bathroom as a bare minimum.

Does A Granny Flat Increase Property Value?

Adding a granny flat to a home can increase its worth by providing the owner with additional living space, conveniences, and potential rental revenue. The size, layout, quality of construction, and placement of a granny flat all play a role in determining whether or not it increases the property's value.

It's important to note that it's against the law to sell the granny flat separately from the main house and partition the property to do so. Considering your backyard construction through the eyes of a potential homebuyer is the best way to go about it.

• Is it in a high-demand rental area?
• Could it be used as a home office?
• Does the facade match that of the existing homes?
• Would it be suitable for elderly occupants?
• How many additional bedrooms will be added to the property?
• Is it far from the main house to maintain privacy and a green area?
• Will its appearance and features be appealing to tenants?

If you give some thought to these aspects of your granny flat now, you'll be able to increase the value of your property when the time comes to sell it.

Ways To Use A Granny Flat To Increase The Value Of Your Home

The phrase "granny flat" used to mean a room in the backyard that an elderly relative occupied; but, in modern times, these rooms can serve as valuable a home gym, real estate for office space, or even as a rentable tiny home. Do you consider yourself a master painter? Are you a budding yogi? Is your landlord trustworthy? The flexibility of having extra space in your home is a major benefit.

Home Office

Since more people than ever are working remotely, having a dedicated area can significantly increase your home's value. 

Since he designed his granny flat by going "back to basics" with natural components and tones throughout the area, he recommends that the space be kept in a neutral tone so that it can be used in various ways. Installing contemporary curtains, for instance, enables him to make certain that his location receives plenty of natural light and clean air, which helps him maintain his energy levels during the workday.

They suggest that one hang these from the floor to the ceiling to make the room "seem bigger than it is" so that one does not feel claustrophobic in their home office dwelling.

Real Estate For Rent

When rented out, a granny flat can add value to your way of life and serve as a source of income. This can be done on a short-term basis or for a longer period of time, depending on the arrangement.

Long-term habitation of the area will necessitate some financial outlay. As someone who places a premium on efficiency, he " maximised" the interior space by incorporating the hardwood timber range into the flooring, walls, and ceiling.

Teen Haven

Have a young adult who isn't quite ready to fly the coop? A granny flat is a great solution for providing elderly relatives with the privacy and autonomy they crave without cutting them off from family life in the main house.

 

The granny flat is adaptable to a variety of alterations and modifications; for example, while a teenager is living there, it may serve as a bedroom and bathroom, but after they go, it may be converted into a fully-furnished microhome that can be rented out.

Gym Or Yoga Studio

The new year motivated you to sign up for a gym membership or even make some purchases of your fitness equipment. However, rather than giving your treadmill pride of place in the middle of the room next to the dining table, you should create your own fitness space in your granny flat.

This could involve the installation of new tools, or it could entail creating a dedicated space for yoga and meditation that can double as a spare bedroom or an additional rental unit. Adding blinds is a good idea if you're trying to create an atmosphere of calm in the room. These blinds offer a modern take on using textured materials in blinds by allowing for total blackout when required, like a yoga studio—an element specifically chosen for his own granny flat studio.

Hobby Den

If you are sick of having to pack up the craft items from the dinner table or are continually looking for a spot to keep your jigsaw working that isn't the living room floor, then a separate 'hobby den' might be what you need.

The actual value of a granny flat comes from the fact that it may be adapted to the current homeowners' needs and the state of affairs in their lives, and then again when the kids no longer require a play place.

Can A Granny Flat Be Constructed On My Property?

The following considerations will determine whether or not you are permitted to construct a granny flat on your property in Western Australia:

Property Size

The state government of Western Australia mandates that your block be at least 350 square metres before you may construct a granny flat there; nevertheless, plots of this size are typically still too small due to factors like yard size. Typically, a lot size of 450 square metres is required for a granny flat to be built.

Ownership

Remember that you need to be the principal property owner to qualify for financing for a granny flat construction project. However, a written contract is often formed so the person living in the granny flat has the legal right to occupy the land. This is a regular situation when children visit their parents in nursing homes. A "granny flat interest" in the property gives the relative the right to use the granny flat as their primary residence for as long as they like.

Zoning

First and foremost, you will need to determine whether or not the land on which you intend to build a granny flat is zoned to allow for such a structure. This is allowed in the majority of residential zones; nevertheless, you should verify this information with your city council or a town planner.

Space Requirements

Depending on the requirements of the shire and the zoning, the actual granny flat can be anywhere from 70 to 100 square metres. In addition to this, you have certain setback requirements from the edge of your property.

Approval Process

Last but not least, the majority of granny flat projects will require you to obtain approval from the local council; however, the approval process can be streamlined for some pre-approved designs.

How To Increase Property Value With A Granny Flat

There are some best practices that you can adhere to in order to get the most value out of your granny flat. These may be followed regardless of whether the addition to your family home is game-changing or a simply financial effort to enhance income flow. Have a look at them below:

Consult With Local Professionals For Advice.

Before breaking ground, it's a good idea to check with professionals to see whether there's interest in renting or buying granny flats in your neighbourhood. There's a good chance the reply will be yes, but verifying it will give you peace of mind.

For instance, if you want to gain deeper insight into the tendencies of the rental market, you should get in touch with a reliable real estate agent in your area. Enquire along the lines of:

• Which groups of people rent in your area?
• What features and floor plans do tenants want?
• What is the average weekly rental price?
• You should also consult a local registered valuer to learn more about how a granny flat could increase the worth of your property. (and how to optimise its design and construction to achieve this goal!).
• Finally, get permission from the local government to construct and lease out the granny flat.

Extra Touches Can Help You Stand Out To Potential Tenants.

Given the similarity in size between granny flats and apartments, it's no surprise that the two typically compete for tenants. If renting out your granny flat is in the cards, you'll want to make it stand out from the other apartments, flats, and condos in the area.

The good news? You may easily make your granny flat more appealing than the high-rise apartment down the street by customising its features, fittings, and finishes to your liking and adding a wraparound garden and square footage.

While it's important to include tenant-pleasant additions in your budget (Imagine having a place to keep your things, a place to relax outside, and direct access to a back alley.), If you charge more for your accommodations, you will see a higher return on investment over time.

Quality Construction And Design Will Attract Customers.

Potential purchasers will be interested in the amenities of your granny flat and the craftsmanship of its design and building. Put another way, the new owners will reap the financial benefits of your foresight and high-quality construction and fittings for many years.

Importantly, this granny flat should also complement the appearance and feel of the current property and the primary residence on the site. This will ensure that there is a seamless style between the two separate dwellings, which will boost the property's curb appeal.

The value of your home can be negatively affected if the granny flat invades or takes up too much of the lawn space of the main house. It would be best to think twice about converting your garage into a granny apartment, as the absence of off-street parking may put off potential purchasers.

Maintaining a distinct separation between the two properties is essential in attracting purchasers who can more easily imagine each structure's separate and individual uses. In addition to the 30% increase in profit noted previously, winning over a customer can increase your earnings by as much as 50%!

Conclusion 

A granny flat is a popular option for those looking to increase their home's resale value significantly. The process of building a granny flat can be time-consuming and expensive, but it can be a straightforward one with the NSW Planning Department stating that approval can be achieved in as little as 20 days. However, each state, region, and sometimes even shire has its own rules regarding secondary residences, so checking with the local government is the first order of business if a granny annexe is in your future.

The term "granny flat" may conjure images of a lonely grandmother peering out of a basement window, but it has evolved over time. Today, a granny flat is not limited to acting as housing for elderly grandmothers or bereaved widows, but can be used for various purposes, including home offices, rental properties, art studios, and supplementary lodging for guests, relatives, teenagers, and even grandparents.

In Australia, granny flats can be attached to your main house or separate buildings in the garden, depending on the rules in their communities. The floor plan for a granny flat could be arranged as a studio or have one or two bedrooms, typically including a fully equipped kitchen and bathroom as a minimum.

Adding a granny flat to a home can increase its worth by providing the owner with additional living space, conveniences, and potential rental revenue. The size, layout, quality of construction, and placement of a granny flat all play a role in determining whether or not it increases the property's value. It is important to note that it is against the law to sell the granny flat separately from the main house and partition the property to do so.

There are several ways to use a granny flat to increase the value of your home. For example, having a dedicated area in your backyard can significantly increase your home's value. By maintaining a neutral tone throughout the area, installing contemporary curtains, and hanging curtains from the floor to the ceiling, you can ensure that your home office receives plenty of natural light and clean air, which helps maintain energy levels during the workday.

When rented out, a granny flat can add value to your way of life and serve as a source of income. Long-term habitation of the area will require some financial outlay, but incorporating hardwood timber range into the flooring, walls, and ceiling can maximize the interior space.

Another option is a teenager's room, which can serve as a bedroom and bathroom while a teenager is living there. After they leave, it can be converted into a fully-furnished microhome that can be rented out.

In conclusion, constructing a granny flat can significantly increase your home's value and curb appeal. By considering factors such as size, layout, quality of construction, and placement, you can make the most of your granny flat and make it a smart purchase for both now and the future.

A granny flat is a versatile and adaptable property that can be built to meet the needs of current homeowners and their changing lifestyles. It can serve as a gym, yoga studio, or a separate 'hobby den', depending on the homeowner's needs and circumstances. In Western Australia, the state government mandates that a block size of at least 350 square meters is required for constructing a granny flat, but plots of this size are often too small due to factors like yard size. Typically, a lot size of 450 square meters is required for a granny flat to be built.

Ownership is the main property owner to qualify for financing for a granny flat construction project, but a written contract is often formed so the person living in the granny flat has the legal right to occupy the land. A "granny flat interest" in the property gives the relative the right to use the granny flat as their primary residence for as long as they like. The land on which you intend to build a granny flat is zoned to allow for such a structure, but you should verify this information with your city council or a town planner.

Space requirements for a granny flat can vary depending on the requirements of the shire and the zoning, and there are setback requirements from the edge of your property. Most granny flat projects will require approval from the local council, but some pre-approved designs can be streamlined.

Extra touches can help make your granny flat stand out to potential tenants by customizing its features, fittings, and finishes to your liking and adding a wraparound garden and square footage.

While it's important to include tenant-pleasant additions in your budget, charging more for accommodations will result in a higher return on investment over time.

Quality construction and design will attract customers by attracting them to the amenities of your granny flat and the craftsmanship of its design and building. This will ensure that the property's curb appeal is enhanced.

Converting your garage into a granny apartment may not be the best option, as the absence of off-street parking may put off potential buyers. Maintaining a distinct separation between the two properties is essential in attracting buyers who can more easily imagine each structure's separate and individual uses.

In conclusion, a granny flat can be a versatile and adaptable property that can be built to meet the needs of current homeowners and their changing lifestyles. By following these best practices, you can maximize the value of your granny flat and enjoy the benefits of a well-designed and functional home.

Content Summary: 

• There are a lot of wonderful choices if you have unused space in your home and are wondering what to do with it.
• However, constructing a granny flat is a popular option for those looking to increase their home's resale value significantly.
• One of the most frustrating aspects of building your home is dealing with the bureaucracy involved.
• However, if you have a granny flat, it might be a very straightforward process.
• The NSW Planning Department, for instance, emphasises that approval of a granny flat by a municipality or county can now be achieved in as little as 20 days.
• Checking with the local government is the first order of business if a granny annexe is in your future.
• Here, you'll learn all about how a granny flat may increase your home's value and curb appeal, making it a smart purchase for now and the future.
• The word "granny flat" may conjure images of a lonely grandmother peering out of a basement window.
• However, the term and our understanding of its meaning have changed considerably.
• The phrase "granny flat" was likely borrowed from England's Victorian era.
• Historically, it was the home of a widow who had to leave the main house and move to a smaller dwelling on the estate to make room for the family heir.
• In today's world, a granny flat is not limited to acting as housing for elderly grandmothers or bereaved widows, as is the more widespread belief.
• Granny flats are utilised for various purposes, including home offices, rental properties, art studios, and supplementary lodging for guests, relatives, teenagers, and, yes, even grandparents.
• A granny flat might be an attached structure to your main house or a separate building in the garden.
• The quantity of room you have to work with and the legal constraints in your area will determine how you should go.
• The floor plan for a granny flat could be arranged as a studio or have one or even two bedrooms.
• Adding a granny flat to a home can increase its worth by providing the owner with additional living space, conveniences, and potential rental revenue.
• The size, layout, quality of construction, and placement of a granny flat all play a role in determining whether or not it increases the property's value.
• It's important to note that it's against the law to sell the granny flat separately from the main house and partition the property to do so.
• Will its appearance and features be appealing to tenants?If you give some thought to these aspects of your granny flat now, you'll be able to increase the value of your property when the time comes to sell it.
• The phrase "granny flat" used to mean a room in the backyard that an elderly relative occupied; but, in modern times, these rooms can serve as valuable a home gym, real estate for office space, or even as a rentable tiny home.
• Since he designed his granny flat by going "back to basics" with natural components and tones throughout the area, he recommends that the space be kept in a neutral tone so that it can be used in various ways.
• Installing contemporary curtains, for instance, enables him to make certain that his location receives plenty of natural light and clean air, which helps him maintain his energy levels during the workday.
• When rented out, a granny flat can add value to your way of life and serve as a source of income.
• This can be done on a short-term basis or for a longer period of time, depending on the arrangement.
• Long-term habitation of the area will necessitate some financial outlay.
• As someone who places a premium on efficiency, he " maximised" the interior space by incorporating the hardwood timber range into the flooring, walls, and ceiling.
• Have a young adult who isn't quite ready to fly the coop?
• A granny flat is a great solution for providing elderly relatives with the privacy and autonomy they crave without cutting them off from family life in the main house.
• The granny flat is adaptable to a variety of alterations and modifications; for example, while a teenager is living there, it may serve as a bedroom and bathroom, but after they go, it may be converted into a fully-furnished microhome that can be rented out.
• The new year motivated you to sign up for a gym membership or even make some purchases of your fitness equipment.
• However, rather than giving your treadmill pride of place in the middle of the room next to the dining table, you should create your own fitness space in your granny flat.
• This could involve the installation of new tools, or it could entail creating a dedicated space for yoga and meditation that can double as a spare bedroom or an additional rental unit.
• Adding blinds is a good idea if you're trying to create an atmosphere of calm in the room.
• If you are sick of having to pack up the craft items from the dinner table or are continually looking for a spot to keep your jigsaw working that isn't the living room floor, then a separate 'hobby den' might be what you need.
• The following considerations will determine whether or not you are permitted to construct a granny flat on your property in Western Australia: Property Size The state government of Western Australia mandates that your block be at least 350 square metres before you may construct a granny flat there; nevertheless, plots of this size are typically still too small due to factors like yard size.
• Typically, a lot size of 450 square metres is required for a granny flat to be built.
• Ownership Remember that you need to be the principal property owner to qualify for financing for a granny flat construction project.
• A "granny flat interest" in the property gives the relative the right to use the granny flat as their primary residence for as long as they like.
• First and foremost, you will need to determine whether or not the land on which you intend to build a granny flat is zoned to allow for such a structure.