Investing in Australian real estate doesn’t just have to be a pipe dream. Yes, the property market has been crowned as severely unaffordable, with Sydney being declared as the second least affordable market in the country. But this doesn’t mean all those savings are useless.
Despite the many challenges of the Aussie real estate, there is one way you can make a good investment in realty; granny flats!
For those who’re new to this certain style of low-cost living, here’s the gist of it:
A granny flat is a self-sufficient apartment that is attached with a single-family lot or home. This type of home or suite is either attached to the building itself, or is structured on the same property separately.
Has this alternative for low-price housing piqued your interest? If yes, read on to know why granny flats may be the perfect options for you!
Why You Should Invest in a Granny Flat
Granny flats are typically less expensive than your average house, for obvious reasons such as groundwork, building material etc. This gives investors the chance to build their property portfolio without investing too much capital.
– Added Value
Of course, with more people seeking affordable living, your granny flat will be in-demand. And when the time comes to sell your property, you’ll have the added factor of a granny flat where price will be added to the final value as a nifty bonus.
– Extra Income
Again, with the demand, you will always have a long list of potential tenants, and this will mean a steady income. Although, what you earn could depend on your location, and what you charge in accordance with the flat’s size.
Even if you do not put up the granny flat for rent, the space will still serve its purpose as a cosy, comfortable space for any friends or relatives that may stop by.
Want to Buy a Granny Flat?
It’s easier than you think!
With companies in Queensland such as Classic Kit Homes, you can have a kit home delivered to your doorstep. Along with, we’ll recommend an experienced builder who’ll help you build the flat, exactly as you want.
Look through the different granny flat designs and contact us today at (07) 5641 2020 to order your own small home!