If you are in the process of looking at property or have noticed the term ‘Granny Flat’ mentioned somewhere, then, you may be wondering what exactly a ‘Granny flat’ is, although the name seems to suggest that it is a ‘home for your Granny’. That assumption is not entirely wrong, but there is a little more to it;
What is a ‘Granny Flat’?
A Granny Flat is a self-contained dwelling space designed for one or two people that is often placed on the grounds of a single-family home, they are normally sought after when a family member becomes elderly and frail or, just wants to be closer to their loved ones. There are builders that specialise in renovations and granny flat construction that can be built as part of a separate building or, connected to the home, making it a ‘semi-detached’ dwelling. Because it is a common option for families to choose when accommodating aging parents, it is also referred to as a Granny Flat.
Despite their name, it doesn’t stop there, nannies or young adult family members often live in Granny Flats/self-contained small home. They are occasionally utilised as rental units, although zoning regulations and deed restrictions sometimes prohibit this. Granny Flats are also anticipated to become increasingly common as multigenerational living becomes more and more popular. According to realtors and builders, they are already an excellent selling factor and, can add value to the overall net worth of your property.
Granny flat amenities
They can, essentially, be a small replica of a full-sized dwelling, and some even have fully built-in kitchens, others may have the space for but are limited to something such as a tiny fridge and microwave, which pose less safety concerns than complete kitchens. Essentially, you can kit out your Granny Flat with whatever you choose to, as long as it fits.
The Benefits of Adding a Granny Flat
Aside from offering a living space, for elderly family members, you could use the space for almost anything you want, you could use it as a home for your children if they want to start to become more independent but, don’t want to move too far away from help, if they need it. In addition to the various uses, the main benefit that most people will receive is the added financial value to their current home or, estate.
If you can then do it
It makes every bit of sense to get a ‘Granny Flat’ built as part of an extension or separate dwelling on your land, even if you don’t use it to ‘house your granny’ you will almost certainly see an increased financial return if you sell up.