Does a Granny Flat Add Value to Your Home?
The short answer is yes; however, we will explore this in further detail so that you can better understand how a granny flat can add significant value to your home. If you have been giving it some thought, then we’ll take you through some of the irrefutable benefits of having one installed. As, not only does a granny flat add financial value to your home, but in other areas also. Let’s look:
1 – A granny flat is a multi-functional extension of your home
The main reason for wanting to build a granny flat on your property is of course, to offer close care for your elder parent/s in their sunset years. And as much as we hate to think about it, those sunset years are finite.
Again, as daunting as it is to think about, you must also consider the future when your parents are no longer around. – The granny flat will be able to be repurposed into suitable accommodation. Therefore, in the future (or the meantime if your elderly family member isn’t quite ready to move out of their home) then you can make extra money on the side by either leasing it out or listing it on Airbnb for example. – This way, before long you’ll be able to make a return on your investment (and then some).
2 – Allow your eldest children to experience a bit of independence before “flying the nest”
A granny flat doesn’t necessarily have to be used for the elderly. You might have a teenager who is keen to experience a bit of freedom, however, is in no way financially ready to make such a big commitment as moving out.
A granny flat / annexe type property will give them just that. Or rather, you’ll be able to kick their smelly, moaning teenage bottom of the house and to the end of the garden where they can do whatever it is that teenagers do.
This will invariably help you, as they will be able to get a job and start saving some money before moving out. Rather than leaving as soon as possible and wasting their money on paying steep rent and being unable to save for a mortgage of their own.
If of course, that is something you’d be interested in exploring, then you should get in contact with a reputable company. Explore your options and opt for a company that can offer flexibility, rather than a standard, one-size-fits-all option.
3 – It’s not just about the money
Having a granny flat built and being able to spend more time with your loved ones in their sunset years will enrich your life in ways you can’t imagine. And don’t worry, they’re not going to be bothering you every second of the day as they’ll have a beautiful, functional space of their own. However, at least you’ll know that they’re close should they need anything.
Additionally, this allows them to spend more time with their grand-children. Hey, you might even be able to palm the kids off onto them and save money on a babysitter. Get out on the town and enjoy yourselves!