If you're looking for a safe property investment in Australia then a granny flat in your backyard could be the ideal solution!
While the regulations for the building and renting out of granny flats varies from region to region, financial planners argue that a granny flat is an affordable way to add value to your home and safely invest in a rental property. To put it simply, building a granny flat is one of the more easily accessible and practical ways of maximising the value on your home.
It makes good sense to make use of the asset you already have: your backyard. Improving your property with a granny flat removes you from the risk or hassle of buying new property, and it creates an easy way for everyday families to enter the property investment market. Not only will you be benefiting from an affordable accommodation solution and an opportunity for rental income; but you will increase the value of your home.
A granny flat is a great solution for families who have young adults that can’t afford to move out of home yet. It provides them with their own space and independence while still remaining part of the family group, making this an ideal first step towards complete independence. It may also generate future rental income.
Alternatively, if you’re looking at a granny flat purely as a way to improve your property then this is a safe option. Houses with granny flats are in high demand and tend to sell quickly.