The rise of Airbnb and other rental apps have homeowners converting their own spaces into rental properties. After all, it is one of the easiest and most effective ways to earn extra income. Thus, it is no wonder why Australian homeowners are converting their backyards into granny flats. Yes, that small space in your backyard can be a livable space.
Initially, granny flats were made for the use and convenience of homeowners themselves. However, over the years people saw the increasing value of properties in Sydney when a granny flat is available. Thus, it became a major investment. However, here are some important things to take note of before calling your homebuilder.
Facts About Granny Flats:
Permits should be obtained
Like building a new home in an empty lot, obtaining building permits and other necessary paperwork from your local office should first be done. Make sure you comply with all the legal requirements to avoid unnecessary issues.
Planning is a must
Carefully plan the location and the building process of your granny flats. Make sure basic utilities like water and electricity can pass through that particular area of your property. Also, planning the design wherein safety and security are taken into consideration is a must.
So is ample budget
Building a granny flat is like building a smaller version of your home. A sufficient budget is crucial to ensure the successful completion of the project. Therefore, before deciding on what to do with your backyard, make sure you have enough money to cover your finances.
Choice of contractor matters
It might be outside your actual home, but a granny flat is an extension of your property. Therefore, it is a must to invest in it as much as you would with your own home. This means finding the right contractor to help you do the job.
Keep these things in mind before you start your granny flat investment. Sometimes, small reminders like these matters and can make a difference.