Increase the Value of Your Property with a Granny Flat
Did you know that a granny flat not only increases the flexibility of your living arrangements but can also increase the value of your home?
A well-designed granny flat can be a standout feature to potential buyers and can make your house rise to the top of the market. It is also a key component to generating additional income from your granny flat.
In this blog, we will discuss why a granny flat increases the value of your property and give some tips that will take your new granny flat to the next level.
Just like with houses, there are many different design choices you can make with a granny flat, and these decisions will influence who your new dwelling is best suited for. For example, someone in their early twenties attending university will have different needs than an elderly couple. When you have an idea of who will be living in your new granny flat, you can consider their lifestyle and use that to guide your design choices.
If you’re designing a granny flat to increase the value of your property, it’s best to aim for universal perks over specifics. Things like grab rails are easy to install if the new owners wish to do that, so it’s best to leave options like that open. Instead, create spaces that could have a multitude of uses and include rooms that everyone needs, like bedrooms and bathrooms.
Floor plan design
Often what makes a great floor plan is an efficient use of the space, and this is especially true of a backyard granny flat.
Remember, you have around 36m2 to work with so careful design is a must. You’ll be surprised at how including aspects such as open plan living and large windows can make your flat feel bigger.
Matching the rest of the house
In terms of aesthetics, try to design a flat that complements your existing home rather than clashing with it. Using the same materials and colour scheme is a great start.
Consider the architectural design of your home and try to incorporate similar choices into your granny flat design. This will add to your property’s curb appeal, and help your granny flat stand out for all the right reasons.
Great designs aren’t just about looks, they’re about functionality. The most gorgeous looking building isn’t going to be of much use if it’s uninhabitable. You’ll want to create a space that’s inviting, and where your tenants can comfortably live their daily lives.
Versatility of your flat
When selling your property, it’s important to remember that it’s not just about what you want, but rather what the buyer wants. If they can envision how they could use the granny flat, it’ll suddenly become so much more appealing.
A granny flat can be used for a variety of purposes including a home office, a home gym, a hang-out area for teens or a creative space for art and music. For families, it provides a great option for older children, who need some space and independence but aren’t quite ready to leave the nest yet.
Protecting the environment has never been more important than it is right now. Any property that has taken steps to be eco-friendly will be more valuable to potential buyers. This applies to your main dwelling, but why miss any chances to make your second dwelling eco-sustainable?
The first thing that many people think of when it comes to eco-sustainability is solar panels. Design choices, such as the shape of your roof and the direction of the panels, can make a big difference in how effective your solar panels will be.
A big part of eco-sustainability is creating home efficiency by working with your environment rather than against it. This type of building design is know as a passive home.
For example, the direction your dwelling faces makes all the difference when it comes to making the most of weather conditions and keeping your house warmer during winter and cooler during summer.
Capturing natural light is something to strive for as it not only helps warm your house, but lights it up meaning you get to save some money on energy bills.
Just like the rest of your home, the features of your granny flat will have a huge influence on its potential worth.
Over the last decade, smart devices have only become more and more popular. While it may seem overwhelming to the newcomer, the great news is that technology is easier to use and more convenient than ever.
3 examples of smart devices you can install in your new flat:
- Smart Locks – Say goodbye to the hassle of keys. You’ll no longer need to spend the day worrying if you remembered to lock the doors now that you can simply check on your phone.
- Smart Lights – Life becomes more convenient and safer with smart lights. No more stumbling around in the dark looking for the wall switch. Through voice activation or an app on your phone, you can avoid tripping in the dark.
- Security Cameras – Perfect for keeping you and your tenants safe, modern cameras have motion sensors, video storage facilities and even full-colour night vision so you can capture everything going on in perfect clarity.
Ability to Rent
The ability to rent out a granny flat will have a huge appeal to a lot of buyers. This is especially true if you’re close to public transport, the city, or a university.
Renting out a granny flat is a great way to make some extra money and meet new people. Your potential buyer has the option of operating the granny flat as an Airbnb. This could work especially well in areas that attract a lot of tourists, travellers and backpackers. Be sure to check with your local council about the rules regarding renting out granny flats, because it does vary from state to state.
How much you’ll be able to charge for rent will depend on a variety of factors, including location, how nice your granny flat is and what other landlords are charging for rent in your area.
Get Started Today!
Are you ready to build your next investment? Read more about the costs of building a granny flat on your property. This is a great way to start planning your next source of income, today!
Have some questions or just want to learn more?
Granny Flat Solutions are the granny flat specialists with a wide range of award-winning designs and the expertise to handle your next project.
Our professional team can guide you every step of the way and deliver a finished product that you’ll be proud of.
Call (02) 9481 7443 or get in touch today!
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