Integrity New Homes has seen an increase in demand for secondary dwellings and granny flats. We believe that the North West of NSW has the land to capitalise on this trend and see property owners increase the value of their property by building a secondary dwelling or granny flat.
The two primary motivators are people looking to start their real estate portfolio with a low-risk endeavour and families looking to accommodate older children or grandparents as the market continues to shift.
Regardless of your motivation, there is the land in the North West and it is time to capitalise on this trend. If you have the land, it is time to explore your options.
The first thing you'll need to do is check with your local council about zoning and planning regulations. There may be restrictions on how big or tall your secondary dwelling can be, or what materials you can use. Make sure you're aware of these restrictions before you start planning and designing your new space.
If you are motivated by starting your real estate portfolio, a secondary dwelling is a low-risk endeavour compared to fully financing a second house and land package. A secondary dwelling is estimated to cost between $100,000 - $150,000 depending on the size and inclusions. This small yet significant investment may be the step in the direction to creating instant short-term revenue whilst creating a long-term value increase on your property.
With the hardships of building a first home, or the challenges that come with accommodating parents and grandparents a secondary dwelling might be the solution that bring long-term value to your property.
One of the significant benefits of a secondary dwelling is that they come with both short- and long-term financial opportunities.
The short-term benefits are financial gains received from renting out your second dwelling or granny flat. Creating a passive revenue stream is a fantastic opportunity to reduce your mortgage or create income through your property.
The long-term benefits are the increase in the value of your property. When it’s time to sell you now have increased the attraction for potential buyers as your property has potential for income.
Our reaction to the trend of secondary dwellings has been to create five new standard designs to cater for property owners looking to build a secondary dwelling or granny flat. These five designs range in size and function to help assist you in deciding what you need to build on your property.
All our designs are customisable. So if the standard design isn’t 100% right for you, don’t worry. We want to collaborate with you to build your secondary dwelling and make it perfect for your needs.
By creating smart layouts, we try and make a big feel home for a fraction of the price. We aim to include all the essentials in a current new home whilst knowing that you, the client are looking to make this investment as profitable as possible.
For property owners in Narrabri, Gunnedah, Coonabarabran and the surrounding area there is an opportunity to capitalise on your excess land by building a secondary dwelling or granny flat.
If you are interested in building a secondary dwelling, please contact us by clicking here.
Below are links to the standard designs we have just released.