How Much Does A Granny Flat Cost?
Can I afford to build a granny flat?
It’s a question you might have recently asked yourself as you do the research and groundwork on your granny flat project. Building a granny flat on your property is a big investment and there’s a lot to consider in the planning stage. If you’ve gotten this far, you’ve already realised that ranny flats are an increasingly popular way to create income via your property or provide a residence to friends or relatives. Despite the name, granny flats are no longer just for “grannies” – they can be rented to whomever you like or used for a home office or teenager’s retreat.
Granny flats are not inexpensive but could actually be less expensive than a large scale home renovation or extension. They also offer exceptional return on investment and can add more than their value to your home/property. As you research costs, we’ve developed a few tools & articles to make this process easier:
- Granny Flat ROI Calculator – input your initial costs and see your return on investment.
- Investor’s Handbook – some quick reading for the benefits for investors.
- Council Requirements – an overview of council requirements for building grannies.
Our two bedroom, 60m2 granny flats start from $99,000 (Inc GST). This is a competitive rate on the Central Coast and one that includes premium quality inclusions as standard, including stone benchtops in the kitchen, Harvey Norman appliances and a 2.6kW Rinnai air conditioner. We also offer a price beat guarantee on comparable quotes.
There are fees that council will charge you to build a granny flat and depending on the proposed construction site there may be some additional fees so feel free to contact one of our specialists today for a free quote and site inspection!
What is my ROI?
Depending on the location, your granny flat could receive between $350 – 450 weekly rent. Our clients are receiving on average $250 – $300 gross profit every week after repaying their interest only loan for the granny flat. What an unbelievable investment return! To work our your ROI, please use our ROI calculator.
An investment duplex in a thriving area – this is the sort of work we love. We’ve just completed building a modern duplex property in Wyong, 90km north of Sydney and 65km south of Newcastle. It’s a perfect spot: a growth town that has proximity to two big cities and an annual capital growth of around 7 percent. The client is ecstatic.
No council approval needed to build a granny flat on your property! That's right, home owners don’t need council approval to build a granny flat but their property should meet minimum requirements. In 2009, the NSW...
The ultimate granny flat floor plan - our team recently completed the approval and construction of this granny flat in San Remo on the NSW Central Coast. The property, situated 90 kilometres north of Sydney, is a...