The New Trend in Homes For: Granny Flats
When we think about the future of housing, we often envision high-rise apartment buildings or sleek, minimalist townhouses. However, a growing trend might just change that perception. Dubbed as ‘granny flats’, these cozy home additions are taking the world, and specifically Newcastle, by storm. They provide an ideal home for family members, or alternatively, a potential revenue-generating rental. But what exactly are granny flats? And what is the granny flats Newcastle price?
Granny flats are self-contained living areas located on the grounds of a single-family home. They’re called ‘granny flats’ because they’re often used as a way to accommodate aging parents. However, these spaces aren’t just for grannies. They’re perfect for grown children saving for their own place, accommodate guests, or even as a rental.
The size and scale of a granny flat can vary significantly. Some might be little more than a small bedroom and bathroom, while others can have multiple rooms, a fully equipped kitchen, and a spacious living area. However, they all offer privacy and independence while still being close to the main home.
Why Granny Flats?
On the first glance, granny flats may seem like just another trend. Yet, they are growing in popularity for several good reasons. Firstly, they provide a level of convenience that’s hard to match. Whether you’re taking care of your aging parents or just providing a place for your grown children to stay, having them close can be a tremendous relief. The close proximity allows a balance of personal space and togetherness.
Secondly, granny flats offer an excellent opportunity for additional income. If you’re not using the flat for personal needs, renting it out can provide a steady stream of income. With the increasing demand for rental spaces, a granny flat can prove to be a wise investment.
Granny Flats Newcastle Price
Granny flats Newcastle price varies depending on the design and specifications. On average, you can expect to spend anywhere from $100,000 to $200,000. This price includes everything from the initial planning approval to the final construction. It might seem like a substantial investment, but considering the potential return on investment from rental income or increase in property value, it’s an investment that can pay itself back over time.
Moreover, the city of Newcastle provides plenty of support for those considering to build granny flats. They grant construction approval speedily and provide a variety of designs compliant with the city’s planning and development regulations, thus making the process relatively stress-free to homeowners.
Conclusion
In conclusion, if you’re looking for an alternative housing solution that could potentially bring added convenience and financial benefits, then considering granny flats is a great idea. Newcastle, with its encouragement for granny flat construction, is particularly suited for this venture. And while the granny flats Newcastle price tag might seem like a hurdle, the potential return on investment makes it an opportunity worth exploring.