This is probably the primary selling point of granny flats. They’re basically like traditional housing and have all the bells and whistles you need that makes a property a home. You get a kitchen, a bedroom, a bathroom, a dining room, and as many other amenities that you want. All that, minus the hefty price tag you get from buying an actual hose.
A one-bedroom granny flat starts at $130,000 and can go up to $300,000, which is much easier to pay off than traditional real estate. With granny flats, first time home owners can enjoy the security of owning their own home without the anxiety of having to pay off mortgage. It’s a sustainable asset that pays for itself throughout the years.
Space is never a limitation when it comes to customisation. If you thought conventional homes had the space to accommodate as many flashy details and quirky elements as possible, wait til you see what granny flats can accommodate.
From a home studio to a five-seater home theatre, a granny flat can accommodate anything. Space-saving solutions can be incorporated in every nook and cranny to give way for other features. Want a bed that folds up in the day? No problem. Want sub-level shelving? We got you.
Even the Queensland Government supports the granny flat movement. They offer a grant called the First Home Owners’ Grant which is a $15,000 or $20,000 grant designed to help Australian citizens successfully own their first home. The best part? It applies to any kind of home – even granny flats!
Applying for the home owner’s is quite easy. While there are requirements for eligibility, they are less about limiting potentially eligible candidates and more about ensuring that only first-time grant recipients and Australian citizens and permanent residents reap the benefits of this grant.
Granny flats make great investments. When you decide you want to invest in a much bigger home, renting out your granny flat for $2,000 to $6,000 a month, depending on how many bedrooms it has, can definitely help pay off your mortgage. Granny flats are a great source of additional income and don’t require that much financial backing.
At the end of the day, you don’t need another reason to invest in a granny flat other than they are a practical residential solution for the modern homeowner. They’re accessible, customisable, and can easily be sold or rented when the time comes. What more can you ask for?
