In the past few years, the people have shown a great interest in granny flats, and you may be wondering why? It is because these granny flats have several benefits. Anyone can get granny flats, whether they are families, investors, and creative business owners.
And if you are planning to build granny flats or if you want to know the benefits of granny flats, then my friend, you have come to the right place, because in this article, you are going to clear all your doubts about the benefits of Granny flats.
Table of Contents
1. Income:
One of the significant benefits of building or getting new granny flats is additional income because this will help to pay down some of your mortgages, buy another property type, and just have some little extra cash in pocket.
You may be aware that higher income is achieved by three factors which are quality, privacy, and location. And the most vital point to notice here is that granny flats offer all these three factors.
2. Increase the value of your property
The investors never invest in the property, which can not maximise their rental return. However, in the case of granny flats which is a unique property type to invest, investors never step back, because they know that they will have greater returns in future. And if we see form an investor’s point of view, if your granny flat will empty for a week, then also you will get rental income.
3. Extra tax depreciation
You will have additional income from your tax depreciation schedule. Suppose if you build a brand new flat, then you will be able to take back your paperwork cost in future with the tax return.
4. Alternative for stay
Granny home can act as an alternative for staying for your family, friends, relatives and guests. It can also serve as a place for enjoying your vacations, but for that, the only condition is you need to buy or build a granny house near the right place for enjoying your holidays.
5. Can act as a workplace
If you are a working person, then you can use granny flats as a workplace, or if you are working from home, then you can have granny flats as your luxurious and separate workplaces.
6. Additional space
Granny flats can not be only used for living purpose, but also they can be used as kids playhouse, guest house, workspace or any other specific area. You can also give granny houses for your kids so that they can have separate rooms.
Now, as you have seen the several benefits of building and having granny flats, it is always the right choice to invest in real estate. You can make granny flats in different places because they are available at cost affordable and cost-effective prices. And if you want to generate passive income, then building or buying granny flats in never considered a wrong choice, because it is one of the best property investment that offers outstanding results.