This Charmhaven granny flat is an excellent investment prospect
In addition to increasing your property value, you can also generate rental income from a granny flat, providing an extra home on a single parcel of land.
The owners of this granny flat in Charmhaven wanted to do just that. A granny flat allows them to build and rent out an extra home without having to purchase two blocks of land.Let’s take a closer look…
Project description: A charming open plan granny flat that flows onto a merbau porch which is a renter’s dream.
Result: A modern, elegant granny flat that is being let out as an investment property.
Project cost: $119,000.00 including CDC approval and construction fees.
Build duration: 12 weeks.
Return on investment: Charmhaven sees a rental return of around $420 per week.
Charmhaven is located on the popular Budgewoi Lake and is close to the beautiful beaches of the Central Coast.
The area is desirable with renters, and has a mix of families and retirees alike making it the perfect location for an investment property.
It is a short drive to excellent shopping centres and boasts a vibrant high street scattered with cafes and shops. There is plenty of entertainment and outdoor activities in the vicinity. There are schools a short drive away and is on a good bus route.
The granny flat provides 2 spacious bedrooms, a modern bathroom, and a fully equipped kitchen.
The client went for a cream-coloured exterior cladding with manor red Colorbond roof and fascia.
The interior is tastefully finished in contemporary shades of greys and whites. Timber laminate flooring throughout the home continues the modern feel and adds a sense of warmth to the neutral colour palette. The kitchen exudes classic elegance with white modern benchtops and soft maximo white splashback tiles, completed with high quality appliances. The home includes two spacious double bedrooms.
The project’s costs came in at $119,000.00 including CDC approval and construction fees. With other rental properties in the area garnering an average of $420/week in rent, this new granny flat is a sound investment.
Looking to increase your own income via an investment property? Get in touch with the local experts today for site-specific advice and a free quote.
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