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There is no doubt we are living in strange times – dramatically affecting how we work, how we socialise, our living arrangements and more. As Albert Einstein once famously said, “in the middle of every difficulty lies opportunity”, and with so much change afoot, many Australians are wondering how we can best prepare ourselves for the near future and beyond. In this article, we reveal why now is the perfect time to invest in a Granny Flat:
Granny Flats carry a number of financial benefits, all of which are particularly relevant given the current state of uncertainty we live in. It can be tricky to know where to invest your hard-earned savings in times such as these. Where does the least amount of risk lie? How will you judge a good time to invest in a unit? Cheaper than buying a standalone investment property, Granny Flats are one of the most popular ways to add value to your home. According to recent CoreLogic data, building a Granny Flat on your existing property could instantly boost the value by as much as 30 per cent.
A Granny Flat can also add approximately 27 per cent to rental income, making it a savvy financial tactic since it spreads your income risk out, meaning you won’t be solely reliant on the income from your job. Affordable yet spacious accommodation is perhaps more appealing to potential tenants than ever before. Leasing a Granny Flat on your property adds a regular, passive income stream for your family.
With travel considerably limited for the foreseeable future, more and more Australians are keeping local with ‘staycations’ and entertaining at home. Building a Granny Flat by your pool or in your favourite corner of the garden can help you make the most of the property you love, and allows you to share it with family and friends – whether that be for intimate pool parties, kids’ sleepovers or more. For those who love entertaining, Cubitt’s Granny Flats can be customised with expanded pantry space, extended outdoor decking with ceiling fans and alfresco areas to name a few!
Do you find yourself struggling to work from home? With the latest in Wi-Fi technology being just one of the many inclusions with Cubitt’s Granny Flat models, you could also opt to use the space as a private home office – to take your corporate video calls with peace, quiet and professionalism.
Many family members can feel the pressure when people close to them come into financial hardship and stress. Pressure to loan (sometimes substantial amounts of) money, or move in with you in close quarters for an unknown length of time, can all lead to painful conversations. Having a Granny Flat on your property means you can protect your privacy, while still providing comfortable accommodation for your adult kids, siblings or even close friends who are experiencing hard times.
As the name suggests, Granny Flats are also an excellent choice as accommodation for elderly relatives who may have limited mobility or need a little extra supervision. Aged care is becoming increasingly expensive and overcrowded, and many Australians are worried about the large portion of COVID-19 cases in aged care facilities. Living in a Granny Flat could help protect our most vulnerable family members, and preserves their sense of pride and independence compared to entering a nursing home.
Cubitt’s Granny Flats can be completely customised to suit individual needs, such as adding wheelchair ramps and wider doorframes, so you can keep loved ones close to the family, young grandchildren and surrounded by a familiar setting. For more information, read our article Why Granny Flats are the Preferred Alternative to Aged Care and Nursing Homes .
Want to know more? Family owned-and-operated for over 25 years, Ian Cubitt’s Classic Home Improvements are the trusted name in building Granny Flats throughout NSW and the ACT. We have a wide range of 1-bedroom Granny Flats, 2-bedroom Granny Flats and even 3-bedroom Granny Flat models to choose from. Unlike most other companies, Cubitt’s also offers customised granny flat builds, so you can design your dream project that’s tailored to your needs.
Invest in your family’s future with a Granny Flat built by some of the best and most reliable tradesmen in the industry. Call 1300 721 150 to speak with our award-winning customer service team today.
Cubitt's is staffed by a professional team of draftsmen and builders with years of experience. Ask us about the Cubitt's Advantage today.