Over the past decade, granny flats have become extremely popular. These cozy little dwellings are not just for grandmothers, as the name suggests – they are being bought by people of all ages, from college students to those living in their golden years.
1) Price: Because these are small structures, they are often much less expensive than traditional homes. This makes it a viable option for those who do not qualify for a large mortgage, or for first time buyers who don’t need a lot of space.
2) Size: These are perfect for those who don’t have a large family. They are meant for people who are either just starting out, or who have already raised a family and are retired. Quite often, they are only two bedrooms, although you can customize this if you are having it built.
3) Investment: This is the perfect solution for those who want to delve into the world of becoming a landlord. They don’t require a lot of maintenance, and the mortgage would still be low enough that you could charge a reasonable rent, and still make money. The rental yield can be nearly 10 per cent, which is more than you would get with a traditional home.
4) Housing for Your Kids: Granny flats are popular among parents with college-age children. It helps kids learn responsibility through home ownership, while still being able to get their education, and saving for a larger home in the future. Parents benefit from not having their young adult children living at home for more years than necessary.
5) Housing for Elderly Parents: People today are living longer than ever; this means that adult kids with their own families are having to care for their elderly parents. These dwellings are a good solution to people who are still independent enough to live in their own homes, but cannot care for their larger home anymore. It can give peace of mind to both parents and kids.
6) Home Office: Granny flats make great home offices. Think of how much money can be saved on commercial rents, commuting, gas and eating out. You’ll achieve a greater work/life balance too.
There are many reasons that these dwellings have become so popular, and they will continue to grow in popularity. With the cost of living rising, and incomes shrinking, these have become a great way to have it all – a home, independence, money savings, and work/life balance. There are many styles and designs to choose from, and you can customize it almost any way you like with the help of granny flats Perth WA.