Need to Draw a 2nd Income or Create More Space? Consider a Granny Flat

Due to the difficult times we current find ourselves living in, many have lost their jobs due to the pandemic. Some cannot afford to pay their mortgage while others have to put their dream house move on hold. Instead of focusing on expensive real estate, many people have decided to invest in a granny flat. They not only create more living space, but they can also be used as a rental property.

What is a Granny Flat?

Most of us have heard of a granny flat but are not sure what it is. It is a self-contained living space that is usually built on the grounds of another property. If you already have a home, a granny flat can be built in your backyard and it can be used for a range of different purposes.

Experts in renovations and granny flat construction have seen a massive boost in sales during the pandemic as many people are looking for ways to create affordable space or boost their revenue stream. Although a granny flat was originally created to accommodate aging parents, they have evolved into something more.

Looking Inside a Granny Flat

What do you think you will find inside a granny flat? The answer is almost anything and everything. The building can include all kinds of features such as bathrooms, kitchens, and entertainment spaces. If you are building a granny flat for rental purposes, the contractor can add a range of amenities depending on the size of the build.

If the project will be used for rental purposes, the contractor can make it self-sufficient with a kitchen, bathroom, and bedroom.

Benefits of Having a Granny Flat

As mentioned, a granny flat comes in handy for all kinds of things. It creates additional space in your home, and it can be used to bring in revenue.

It can effectively pay for your own home over a period of time. If revenue is not an issue, the granny flat can be used for any of the following:

  • Home Office
  • Personal Gym
  • Meditation Zone
  • Kids Play Area
  • Extra Bedroom

Having additional space in your home is always a big bonus. You can use it to increase your revenue stream and help pay for your mortgage or it can be transformed into a functional space that can serve all kinds of purposes. Instead of wasting money on an extension or moving home, why not consider a granny flat for your living or lifestyle needs.