If you have a large, open home with lots of unused space, you might want to learn more about the granny flats Sydney locals are investing in. These are comprehensive units with plumbing and a range or essential features. They have their own entrances and afford residents an ample amount of privacy, in spite of being attached to the main house. Moreover, adding one of these units to your property can significantly enhance its overall value and functionality.
You Can Rent Your Granny Flat Out
For many people, one of the greatest benefits in owning these units is the fact that they can be let out for extra cash. This is a great way to generate passive income from resources that you already own. If you live in an area with reasonable rental costs, the money that you invest in your flat construction will quickly pay for itself. Should unexpected expenses ever arise or if you find yourself without a job, you can count on this additional cash to help you meet your living costs until your cash flow problems are resolved. These monies can also be used to further ensure your well-being and comfort throughout your retirement years.
Put Up Your Family Or Friends
Having extra space in your home will also allow you to accommodate your loved ones whenever these people need a place to stay. Given that the unit will be entirely separate from your own, you won’t have to give up your privacy and peace of mind in order to house them. These units also provide comfortable quarters for short-term host guests. You can ultimately decorate and use them any way you choose.
Start A Home Business
Although the typical granny flat is designed for residential living, you can also transform one of these units into your private work space. Given that it will have its own kitchen and bathroom, everything that you could possibly need will already be at hand. People like having these spaces attached to their properties so that their work areas are clearly separated from their own homes.
College Kids
When kids grow up, they are ready to move out, but they may not be ready for the high costs of living on their own. Granny flats give young adults their own spaces, without subjecting them to the high costs of the real world. Parents can charge their kids modified rent to prime them for future apartments of their own. These units are also great for aging adults who want to live near their loved ones but are anxious to maintain their own independence and autonomy.
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