Picturesque perfection – a new modern granny flat in Pelaw Main
As you take a read through this project report, keep in mind the two stipulations from the clients. First, the flat must be as beautiful as its surroundings. Second, it must go on to yield a solid return on investment. We delivered on both. Let’s look at how…
- Project description: A modern, yet classic, granny flat to complement an existing Pelaw Main investment property.
- Result: An attractive supplemental property that will quickly offset overall mortgage repayments.
- Project cost: $130,000.00 including CDC approval and construction fees.
- Build duration: 15 weeks.
- Return on investment: The average rental return for Pelaw Main is $550/week.
As well as being the perfect place to retire, it’s also the perfect place to raise kids, sporting its own primary school and associated amenities. The proximity to the commercial and services hub of Kurri Kurri also ensures highschoolers need not travel far for their further studies.
Aside from the calm country living, the area is also starting to attract tourism. In 1922, a direct railway line between Pelaw Main and Richmond Vale was constructed to help miners get to and from their shifts. Out of use for many years, it has recently been rebuilt and offers regular heritage train services.
An investment property in Pelaw Main is a boon to any investor, but there’s a way to boost the potential even further: a spacious new granny flat.
For their build, our clients were adamant that the new addition on their block must match its setting. We created their granny flat with a neutral colour palette of soft grey exterior paint accented with white for a weatherboard facade that, while it might never stand out, will never go out of style.
Inside, this two-bedroom flat sports a spacious living area, large bathroom and cozy laundry. Brown tones were chosen for the premium vinyl flooring, ensuring a homey feel while also ensuring durability – particularly important for tenanted properties.
The kitchen keeps to the overall vibe of the property. The stone benchtops: yes, they’re done in an attractive warm grey. An electric cooktop/oven plus reverse-cycle split-system air-conditioning ensure the flat is practical as a fully self-contained dwelling.
This project cost $130,000.00, including CDC approval and construction fees. Now, with other properties in Pelaw Main averaging a rental return of $550/week, you can see that our clients’ new flat is going to work hard to boost their rental returns – and thus, overall return on investment.
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