Is a granny flat a good investment for your money? Building a second unit inside your property will give you a lot of flexibility options and financial freedom. That makes granny flats Adelaide a worthy investment. However, keep in mind that it won’t work for everybody. That’s why if you’re sceptical about adding a granny flat to your property, we’ve created a way for you to analyse if a granny flat is a good investment. Check out AdelaideHomeImprovements.com.au for more information.
Situations Where Granny Flat is a Good Investment
A granny flat is a good investment if:
- You’re planning to own the extra space for the long-term and can rent it for many years to come.
- There’s no owner occupancy clause that’s forcing you to stay on the property since it’s yours.
- You already own the land since the rent-to-cost ratio is favourable.
- You currently have home equity.
- The rental market is on the rise for quite a while now.
- You think that building a granny flat is a good fit for your lifestyle.
If you can relate to one or more of these scenarios, then you’re in a great position to invest in a granny flat. Take the first step by heading to the AdelaideHomeImprovements.com.au website and downloading our free tool kit. It’s filled with all the relevant information that you need to get started with your project.
How Long Are You Planning to Own Your Home?
In the right situation, granny flats Adelaide are solid long-term investments. Keep in mind that they aren’t ideal for get-rich-quick schemes of flips. In fact, business studies and research shows that after adjusting for inflation, a standard granny flat can generate up to two million Australian dollars in value to a homeowner over a 30-year period. So, it does take some time.
Use It for Housing Relatives and Guests
Of course, granny flats aren’t just for earning revenue. Sometimes, investing in some extra space can benefit you in other ways, such as having the ability to house relatives and guests. If your home gets too cramped up during the holidays, you can invest in a granny flat and have your guests stay there instead. Not only will you impress them, but you will also make sure that your home will still be in one piece after the holiday season is over.
For more information about granny flats Adelaide, visit the AdelaideHomeImprovements.com.au. You can also ask your questions to us via email.