Having a Granny Flat Could Add Value to Your Property By 30%

We have big news for homeowners across Australia as according to combined researches by Archistar & CoreLogic and their report on granny flats, building these flats on your property has the potential to increase their value by about 30% and add another 27% to the homeowners’ rental income. The research revealed that just over half a million homeowners inhabiting the eastern seaboard of Australia have sufficient space on their lands to construct a granny flat. 

Researches by Archistar & CoreLogic

Top suitable areas in Australia

The analyses by the research departments of these two lead to them identifying a total of 583,440 properties in Melbourne, Brisbane and Sydney that met the criterion for accommodating a ‘granny flat’ of at least 60 m². Out of these three, Sydney had the highest number of properties-233,218-that meet the criterion for the construction of a granny flat. Brisbane came next with a total of 204,598 properties, followed by the Melbourne metropolitan area comprising of 145,625 properties.

Custom Granny Flat built in 23 days, NSW Sydney 2019

Cost for homeowners

Expert researchers from CoreLogic believe that the construction of a double bedroom flat would require an investment of $200,000 whereas a single bedroom granny flat would require just $120,000. The availability of Scandinavian design granny flats available from our accredited builders has made the construction of these flats even easier. Ingenious building system allows for quick installation time, saving money on labour for homeowners across Australia.

Granny flat Cyprus, QLD
Tracey’s granny flat Cyprus built in 10 days, QLD Sunshine Coast 2017

Benefits of building granny flats

Tim Lawless, the Head of Research at CoreLogic, is positive that investment in granny flats not only has the potential to help homeowners in benefitting from boosted capital gains (up to a hefty 30 per cent) in the future. Tim believes that these flats can be a source of rental income for them as well.

Granny flats serve renters looking for affordable housing options. And it is important to mention that the demand for reasonable housing is increasing. A granny flat usually tends to be rented out for lesser than the standard rental charges. This way backyard grannys makes it a very affordable housing option.

The properties identified earlier are mostly located in areas that are traditionally expensive & densely populated as well. These characteristics will make a granny flat in any of the popular suburban areas very economical for potential renters and increase demand for granny flats.

Amidst these capital and rental gains, the family benefits of a granny flat cannot be neglected. Such a unit can be used to accommodate overseas family members residing in your house. Adult children will enjoy a temporary place to stay.

Guest house in ACT: ensuite bedroom
Carly And Ben’s Garden Cottage For Guests, ACT Conder 2019

Moreover, it is believed quite rightly that capitalization of this opportunity will reap benefits for the economy and society as well by creating employment opportunities for the construction workforce and others involved in the construction process. A prediction suggests a massive boost of $87.5bn in the construction industry.

Bedroom in John's House in The Snowy Mountains
John’s House, NSW The Snowy Mountains 2019

What should be kept in mind before building a granny flat

If you wish to have a granny flat on your property in Australia, make it a point to get into the legalities before. Laws related to secondary residencies vary depending on the state you’re in. Make sure that you are aware of each and every detail related to the construction of a granny flat in your area-size requirements, what you can add and what you cannot, rental laws governing granny flats, etcetera. Don’t hesitate in taking help from a local construction and planning expert!

Please feel free to consult with YZY Kit Homes accredited builder, either at their office or a display village or book your site inspection. It is usually cost and obligation free.

Backyard Cabins and Granny Fats built in 2018

Backyard Cabins And Granny Flats Built In 2018

Looking back at 2018, it’s been yet another amazing year with many Scandinavian cabins, granny flats and even homes built across Australia. Use of YZY Kit Homes was very diverse. While larger 1 and 2 bedroom buildings were used as a main house, accommodation for guests or B&B, smaller studio-type cabins were mainly used as a teenage studio, a home office, parents retreat, a pool house and a craft room.

The need for more space starts the process. Clients consult with the builder exchanging ideas, builder looks at the site potential and restrictions. After a few discussions, working together teams find the most suitable solution. And the results are amazing, take a look at some of the cabins built in 2018.

Continue reading Backyard Cabins And Granny Flats Built In 2018

Backyard cabins and granny flats built in 2017

Backyard Cabins And Granny Flats Built In 2017

Looking back at 2017 – what an amazing year it was for many of us with such an incredible projects completed with Scandinavian backyard cabins and granny flats. Big big thanks go to our dear clients, our fantastic teams – cabin builders, people at the factory, designers, engineers, transport and customs agents and all others involved in the process. Backyard cabins, studios and granny flats built in Australia are a result of hard work and a great input from everyone, so THANK YOU! Continue reading Backyard Cabins And Granny Flats Built In 2017