One of Australia's most sought-after destinations is Byron Bay, Ballina, and the Northern Rivers. If you have land you can use, you might have the chance to make money because there isn't enough housing, which is good for investors with a major emphasis on investing. A detached granny flat, or second home, can increase the value of your property while giving your family additional living space and helping you make the most of your land.
There are a few considerations to make if you plan to build a second home on your property.
The first thing you should do is inquire about zoning and planning laws with our local council. There may be limitations on the size, height, and type of materials that can be used in your secondary residence. Before you begin planning and designing your new space, be sure you are aware of these limitations.
Choosing the style of secondary residence, you want to construct is the next step.
Every family is unique, so each granny flat must be specially created to meet the needs of the clients. Integrity New Homes can design and construct the ideal granny flat for you, whether you need additional living space for a growing family, a nearby residence for your parents, or a home office with an attached self-contained apartment.
Together with you, our team of talented designers will create a floor plan that is open and roomy while still giving you the privacy and functionality you require.
Utilizing block size can be a great way to manage money, especially if you have elderly parents or a mortgage. When space is limited, it's critical to utilize every square meter. This can entail using multipurpose furniture or coming up with inventive storage solutions. Moving into a smaller house or apartment is another option.
Living in a smaller space means less stress and more money in the bank for many people. The monthly savings from downsizing can amount to hundreds of dollars, which can be used for savings or debt repayment. Additionally, it's a great way to make your life simpler because stress decreases when there are fewer things to worry about.
Of course, not everyone is a fan of downsizing. Some people favor a larger home because of its comfort and adaptability. Therefore, it would be a great idea to keep the family home and add the smaller granny flat to make the above possible.
Building solutions for new home builders, renovators, and investors are something that Integrity New Homes is passionate about. It should come as no surprise that we are introducing a new line of secondary dwellings to provide our customers with the answers to some of the building market's problems.
INH has second homes in every size and price range, from studio apartments with one room to micro-homes with three bedrooms.
Housing for extended family is one of the main reasons why people build second homes. The phrase "Granny Flat" is commonplace in Australia and our housing sector. It has become a viable option for families to build a secondary dwellings to house older children, children starting their own families, or grandparents given the current challenges facing first-time home buyers and young families.
Making this type of space, driven by family needs, also improves the worth and marketability of your house.
Increased revenue-generating opportunities for your property is a major reason to build a second home or granny flat on your existing property. Making a second home with two to three bedrooms will lower your expenses while allowing rent to come in.
A secondary residence on your existing property is a low-risk investment when it comes to building your real estate portfolio compared to financing a secondary house and land package. A low-risk investment of $100,000 to $150,000 could be the simple yet important first step for you to begin building your investment portfolio while also generating an immediate income stream.
Last but not least, a legally compliant secondary dwelling may raise the home's long-term value. When it comes to investing, adding value to your home while generating passive income in the present is a double-edged sword. Whatever your reason for wanting a secondary dwelling or granny flat, there are both immediate and long-term financial advantages to investing in your current property by adding a granny flat or other second residence.
Integrity New Homes' designers have come up with five stylish options for secondary dwellings that maximize space and give the interior a spacious feel while minimizing the dwelling's physical footprint and cost.
We try to make a big feel like home for a small fraction of the cost by designing clever layouts. We strive to include all the necessities in a new home while keeping in mind that you, the client, are trying to get the most return on your investment.
In other words, we want your second home to feel and look great without breaking the bank.
Click here to speak with us about building a granny flat or second home today.