Read Time: 4 minutes
Fad or here to stay. It feels like the world has only just grabbed onto the fact that Granny Flats exist and are easily accessible. They have been around for a while, but fashionable? Not until recent times have they become sexy, mainly due to the fact that companies now just specialise in building Granny Flats.
I personally think of granny flats as the retirement home for the in-laws. It’s definitely a common way to bring the family closer to home which we are seeing a lot more of these days. If not, then it’s a great passive income and investment option.
We thought we’d distil a couple of ‘must knows’ about Granny Flats. Just enough info to prick those ears up and get you thinking about the possibilities.
1. Firstly, every council in Australia has different regulations, so make sure that’s your first point of call. Request a Section 149 certificate - this will tell you all you need to know.
2. The maximum size of a Granny Flat is 60m2. So make sure you measure up the area properly ensuring you have enough room to do it.
3. You can either have your Granny Flat purpose built or you can have a kit Granny Flat pre-built and installed/connected on-site. Pre-built is cheaper, however, your options can be limited. If it’s an investment, then this is a good way to not over-capitalise. If it’s for the in-laws, then you might want to customise this to your liking.
4. You can only have one Granny Flat per lot. If you’re on a battle-axed block, you can only have a Granny Flat if the access laneway to your block is wider than 3m, and the block measures at least 12m x 12m (excluding the access laneway).
5. Dependant on your council SEPP (State Environmental Planning Policy), you will either need to complete a full DA or alternatively a compliant DA through a Private Certifier (usually taking about 10 days). One phone call to the council will give you the answers - or maybe two :).
Hopefully, this starts the conversation. And sorry if that conversation is fast-tracking the in-laws living closer to you!
It’s a great way to add value and a second income. Stay tuned for the ‘Benefits of Granny Flats’.
Milk Chocolate purchase residential and commercial property in Australia on behalf of Australians living abroad, looking for a home or investment property. To see how we can help you get in touch here. To read more news and information on the Australian property market visit our news page here.
Cheers
Richie
#onthehunt #milkchocproperty #propertyconcierge
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