The major cities of Australia are feeling the pressure brought about by the growing population. Available residential spaces in urban areas are becoming smaller. Meanwhile, it is now more difficult for young professionals, newlyweds, and retirees with a limited income to find affordable rental properties.
State and local governments continue to work on ways to provide for the needs of the growing populace in the midst of the increasing costs of living. Local councils are making it less difficult for property owners to build granny flats because these compact homes are somehow easing the pressure.
How then can this “project” benefit your family?
Keeping relatives close
Senior parents find the idea of living close to their loved ones, yet on a separate building, very appealing. If your parents plan to spend their retirement years in their own little abode, you should make the most of the available space in your property. Many seniors in Australia are choosing to leave the hustle and bustle of the main house to their progeny. A smaller home where they can enjoy their pursuits in private is a good enough retirement plan for some.
Having an additional source of income
Secondary dwellings can also serve as additional income source. As GrandesignsWA.com.au suggests, you can rent it out to people looking for a self-contained studio to stay for the week. Instead of accepting transients, choose a steady second income by renting it out to paying tenants who are willing to sign a long-term contract.
Granny flats are self-contained buildings located in the same block as the main property. If you follow the example of many other Australians, you only have to sit down with a granny flats builder, and you will have a complete and furnished building in no time.