There’s no question that granny flats are a great investment, but surprisingly there is little understanding of who rents them and why.
A solid core group of people build a granny flat for reasons other than investment, for instance to look after a parent or keep another member of the family closer to home.
A good percentage are rented to young couples saving to purchase their own home.
But by far the largest portion of tenants, not just for granny flats but all leased property over the last few years, have been rented by single working people.
That percentage of tenants is high and forecast to grow, according to the sales manager of Ian Cubitt’s Classic Home Improvements, Dot Platt.
Ian Cubitt’s Classic Home Improvements offer a turnkey service that includes the approval and construction.
“Ask about our platinum package giving you a granny flat that is ready for your family with painting, floor coverings and even the air conditioning is included,” sales manager Dot said.
“Housing affordability, and I’m referring not only to home ownership but to available/affordable properties to rent, is getting continually more difficult to find.
“The crosswinds of a decade of stagnant wage growth and year-on-year increases in rents, rates and living expenses has seen unprecedented numbers of people seek more affordable housing.
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“The emergence around the suburbs, city centres and CBDs of clean, modern and affordable granny flats has helped fill a gap in the market that keeps growing.
“This has been welcomed by not only state government officials and local town planners but especially single-income and often single-person renters who face an affordable housing shortage stretching decades into the future.
“Building a modern, stylish granny flat offers the opportunity to obtain potentially high yield with reduced risk and invest in a product that benefits the community through affordable housing,” Dot added.
For further information about granny flats and Ian Cubitt’s Classic Home Improvements, call into the display centre at 244 Shellharbour Road in Barrack Heights.
Talk to Dot Platt and the team who have the experience and know-how of adding a granny flat that will suit your needs and your budget.
See the website www.grannyflatsandstudios.com.au or please phone 1300 721 150 for more information about building an economical and stylish granny flat.
Not only will you have a modern and new home to live in that you can afford but you will also be building on a useful investment without throwing away rent money in both the close and distant future.