In a recent article in Your Property Investment Magazine, Wally Gebrael, our Design Manager, was asked to comment on the importance of design when wishing to build a Granny Flat in Sydney. As customers are becoming more educated on what they can and can’t do
“There’s definitely been a shift over the last few years away from the idea of just turning a garage into a bedroom or just putting in a pre-fab kit,” Gebrael said.
“It’s actually quite exciting to see what people are coming up with, and we’re really seeing some people think outside the square when it comes to how and what they’re designing,” he said.
While a custom-designed granny flat may be more expensive than a pre-fab or conversion, Gebrael said the extra cost will deliver better returns.
“These days you’re probably looking at around $100,000 for a standard granny flat. That’s going to get you a brick building on a concrete slab if you’ve got a block with easy access and on a gentle slope.
“From the research I’ve done if you sell the property after building a granny flat, you’re going to get your money back and you’re going to put up to another 10% of value on the property as well.
“We’re also finding that people that are renting them out are getting the same weekly rent as an equivalent unit in the area, which is a pretty good return on that level of investment.”
To read the full article click here.