Granny Flats And Why Australians Are Turning to Them

People’s lifestyle has significantly changed ever since the world got struck by the covid-19 disaster. People have started taking their lives more seriously and started living their life more rather than working round the clock.

A similar thing happened with Australians. They have changed their ways of investing. Instead of buying a new property, they are transforming their property’s backyard into a granny flat. If you are unfamiliar with this term, then you must read this full blog to get the whole insight about it.

What Are Granny Flats?

A Granny flat is referred to as accommodation in a house which has all the things that one or two people need. Adults who have aging parents mostly build granny flats for their parents to keep them in comfort. However, now granny flats have surpassed their very own meaning and origin.

Now, people are adding a small house in their backyard for guests and other purposes. Also, people who like to go camping to relax and star gazing every once in a while can now stay in their granny flat for a change.

As for the investment, if you add a granny flat to your property, then your property’s value increases automatically. Besides, owners build granny flats to create an extra mode of income as they can put it for rent.

Perks Of Investing In A Granny Flat

Now the real question must be coming to your mind- What are the perks of investing in a granny flat?

Well, the answer to it is plenty! Yes, there are so many perks of owning a granny flat. To make you understand, here are some of the main ones:

Increases The Price Of The Property

If you invest correctly while building a granny home, then it can raise the price of your property. Also, for those who have plenty of unused land in their house, by installing a granny flat, they can make good use of it.

Extra Mode Of Income

You can rent out the granny flat and start earning from it. Many employees look for decent accommodation that has a good environment. A preferable place for them is a granny flat as they can have a familiar environment around them.

Viable For Multi-purpose Use

You can use granny flats for several purposes. You can either put the flat on rent or accommodate your aging parents in it. Also, if you have built a spacious flat, then you can host a party in it for your close ones. Alternatively, you can use it as a guest house.

You Can Claim Depreciation

Depreciation helps in cutting out the tax charges. Luckily, it works the same in the granny flat as it works in any investment property. You can claim depreciation on the working capital of the flat.

Bottom Line

The only thing left to say now is that if you have got some extra area in your house, then do not waste any more time researching about granny flats. Just build one in your house. Also, if you want to buy a granny flat in Australia, then you can start by looking into this website.