Granny Flats – Where not to save money
Last year we spoke about why you should build a granny flat with your new home. Following on from that blog post, we thought we’d make a list of things you definitely shouldn’t save money on when building granny flats.
Granny Flats for investment
A granny flat can be a great addition to your new home. Attached or detached, for personal or investment use – granny flats are the gift that keeps on giving. Many people opt for low-level inclusions for their granny flat. You might not think it’s worth spending money to make a granny flat look luxurious if its purpose is to be rented out. However, we think spending a little extra money now can really cut down on the upkeep later down the track.
This is the first thing that investors will usually cut from their granny flat inclusions – stone benchtops. We think this is unwise. Laminate benchtops are generally slighter cheaper upfront but can be damaged more easily. Stone benchtops generally take more wear and tear. It might also be better to avoid white benchtops as stains will be more obvious.
We think it is definitely worthwhile including a split system in your granny flat. It will definitely be a selling point when looking for renters. Depending on the sun exposure, one split system unit should be more than sufficient for the whole granny flat.
If you have the space to include a carport – include one! If you’re building somewhere longer than walking distance to/from the nearest train or bus stop, it is likely that any renter will need a vehicle. Including a carport won’t cost much but will be a huge benefit to potential renters. Your renter will see it as somewhere safe, a guaranteed parking space and hopefully a helpful little discount on their car insurance. It can even help get you a little extra rent.
Not all lots are large enough to fit a granny flat with a backyard but it’s definitely worth thinking about. Having space outside for:
- hanging washing,
- outdoor dining, and
can help to make the granny flat feel more functional… like a proper home. And could help you attract loyal and long term renters.