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 (ex. 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.
The rental market in Saratoga, on the NSW Central Coast, is surging. And recently our team was called on to help a local property owner take advantage through further increasing the rental returns on their existing investment property. How? With an uncommonly spacious prestige granny flat.
When you have extra space on the block of an existing investment property, the opportunity is clear: look at getting a granny flat! That’s just what happened when the owner of this property...
The Treasury has announced a capital gains exemption on granny flats this month, a decision which will bring welcome relief to many families looking to build a granny flat. So, what does this...