A granny flat is an additional residence on your property that is both tiny and useful in design. Granny flats are now constructed with fashionable, contemporary design elements and provide a significant return on investment. Many years ago, the objective of granny flats was to allow extended families to live together in the same space.
Granny flats are still in use today, serving as a place for family members to stay, as a place for visitors to stay, and as a supplemental source of income. If you’re considering creating a bespoke granny flat, there are a number of advantages that will make the investment worthwhile for you.
Keep Aging Parents Close
It is possible to keep elderly parents close to you by building a granny apartment while providing everyone with the degree of privacy and respect they desire.
For example, Jane built a granny flat for her aging mother when she became confined to a wheelchair due to illness. She enjoys living close to her family and is grateful for the additional help with her two small children. Having everyone in one place has brought a lot of joy into their life, and they’re grateful for the opportunity to eat meals together.
Increase Space Without Moving
Sometimes, your home is in a lovely area, but it is just 1,000 square feet in size. As the owner of the property for about 13 years, you might not wish to relocate or pay a new, higher property tax bill. However, you might have outgrown your home and require more space. Making renovations and granny flat construction is an excellent option.
Add a Home Office
Many people work from home or have their own little business. A granny flat may give extra room and solitude, allowing you to maintain a good work-life balance.
For example, when her daughter was born, a woman left her workplace as a journalist. She decided to start her own freelancing business a few years later. She needed a quiet location where she could still conduct interviews while working from home with a small child.
Increase Monthly Income
Granny flats are a terrific way for families to build money over time. You may obtain an estimate of your monthly rental revenue by looking on Craigslist for what apartments in your neighbourhood rent for. If you’re considering constructing a granny flat for financial reasons, use a breakeven calculator to estimate your earnings and break even point.