There is a plethora of personal and long-term financial benefits to moving your ageing parents into a Granny Flat. These include adding value to your existing property, future leasing benefits, childcare benefits, health and supervision, privacy benefits compared to living in the same house, as well as potential for improved quality of life being close to family and grandchildren.
Part of being a family is the natural feeling of wanting to support those you love. Here are five key considerations before moving your parents into a Granny Flat on your property:
#1
Space Requirements
In order to choose the right design and floorplan size for your Granny Flat, it’s important to know what usable backyard space you have – it may be more than you think! Cubitt’s are experts at building on narrow or sloping land, we can even build over old pools! Talk with your family about the kind of space your parents would need to be comfortable.
#2
Accessibility and Lifestyle Requirements
Sometimes, seniors can be reluctant to leave the family home. However, it can help to get them excited about a future close to grandchildren and family, in a brand new low-maintenance Granny Flat. Cubitt’s offer customisations to any of our Granny Flat models, so you can integrate your parent’s lifestyle into their new home and encourage them to move. For example, you can build expanded pantry space in the kitchen and an alfresco area for parents who enjoy entertaining. You could add extended decking with ceiling fans for parents who enjoy the outdoors. Accessibility needs such as wheelchair ramps and wider doorframes can also be custom fit to your Granny Flat.
#3
Budget
Planning a Granny Flat is an exciting time, and with so many designs and customisations available, it’s easy to get carried away! It’s a good idea to speak with your wider family about what budget is available to build a Granny Flat with everything your parents will need. If you and your partner can’t afford to build a Granny Flat on your own, did you know that there’s a way for your parents to keep their pension entitlements, sell their home and transfer payment to you in exchange for the right to live in the Granny Flat? This is called a Granny Flat Agreement, and it’s advantageous to understand how it works.
#4
Establishing a Granny Flat Agreement
Many living arrangements made with family are often on an informal basis, yet this leaves the door wide open to disputes and misunderstandings. A Granny Flat Agreement is a formal family arrangement made in writing, whereby senior parents are provided with accommodation from their adult children in exchange for payment, without impacting their Centrelink entitlements. It is wise to consult your legal specialist for more details regarding Granny Flat Agreements.
Granny Flats are becoming an increasingly popular aged care alternative, as they tend to be a more financially viable option compared to many nursing homes, as well as being more personal and familiar. However, if you do choose a Granny Flat as your family’s aged care future, then it’s also important to plan who will maintain the property, if you (the owner of the main residence) will be required to care for your parents or perform everyday tasks such as cooking and cleaning. Will you need help from a home care support service? If so, who will fund this? Putting a plan in place can paint a realistic picture of the future and help guide decision-making.
#5
Choosing a Builder
Designing and building a Granny Flat can be an exciting and enjoyable experience, provided you choose the right builder for your needs. Family owned and operated for over 25 years, Cubitt’s Granny Flats and Home Extensions are the trusted name in building throughout NSW and the ACT. Our team of experts are passionate about building customers their dream project with a stress-free approach. We achieve this by employing the best in the business - actively sourcing the most thorough and friendly tradesmen in the industry, while our experienced council planning and drafting teams understand the complexities of working with local councils, and can take care of the approvals process for you.
What building looks like with Cubitt’s
Cubitt’s has a wide range of 1 bedroom, 2 bedroom designs and even 3 bedroom models, and provides every customer with a dedicated point of contact to keep them updated throughout the design and construction journey.
For more information, call our award-winning customer service team on 1300 721 150.
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