You can utilize the extra space available in your backyard to build a small studio granny flat. You can convert your garage into a studio flat or use your garden space to build the same. You can connect your studio apartment with your existing building and use your existing plumbing, electric and sewage lines for your granny flat.
The concept of a granny flat is not new; however, in recent years, granny flats have found more prominence. People are using it for a multitude of purposes like renting it out, as a guest house, or as a leisurely space. The best part about granny flats is that they are available in a multitude of designs, and you can pick the one that best matches your requirement. In this blog, we will be discussing some of the key aspects of granny flats.
Why would you build a granny flat?
Granny flats are mainly designed for the elderly people of a family. They can keep in touch with their family, and you do not need to shift your grandparents to an old-age home. You can build a small studio granny flat in your backyard and give them utmost privacy. You can take care of their health. Apart from that, you can use your granny flat for various purposes. For example, you can give your flat on rent and earn some money or convert your granny flat into your office. You can also use your studio apartment for your guests and give them a separate space for living. You can also use your granny flat for your storage and keep your rooms neat and clean. So, you can invest a minimum amount to build a small studio granny flat and avail such benefits.
- Create a separate room for your kids- If you have children, you need to plan your house according to their preferences. After a certain period of time, they need some privacy, and you need to give them a separate room. How would you give a separate room to your children when you have a two-bedroom home? In this case, you can build a small studio granny flat on your property and give an independent apartment to your child. They can also convert your flat into a music studio, and they can live with their passion, especially when your child is interested in music and dance.
- Use it as your home office– During this pandemic, it is hard to communicate with your office, located far away. You can manage your work from your home, and you can use your granny flat as your office. You cannot work from your home because your family members can make some noise and not concentrate on your work. Apart from that, you cannot meet your clients at your home because it is a private space for your family only. So, you can use your granny flat as your office and use the separate entrance of your studio flat for your clients.
- Easily finance the construction– If you do not have enough funds to build a small studio granny flat, then you can take a loan from your bank. You can easily repay your loan by giving your flat on rent. Investment in your property can increase its value, and you will get a decent resale value for your property in future. If you give your flat on rent, you do not need to pay any electricity and water bill for the same, and your tenant will pay such expenses.
- It is a cost-effective option– Apart from that, you do not need to pay any additional stamp duty and registration cost for your granny flat because you have already registered your property beforehand. You are using your existing land to build your small studio granny flat registered under your local council. But you need to take permission from your local municipality. In this case, you can contact a reliable contractor, and they will help you get such required permits.
Conclusion
Granny flat investment is a smart move because you do not need to pay any additional land taxes. You can design your dream flat with the best designs and amenities, and you can add some luxury elements to your flat. You can customize your studio apartment with a bedroom, kitchen, balcony and bathroom.
