31 Jan What are the benefits of a Granny flat to a young family?
While we all love our families very much!
Sometimes an expanding family [ grandkids, in-laws] can add extra stress to everyone’s lives. The simple and cost effective solution is a Granny Flat, allowing the much needed space and privacy to both the parents and their growing families.
“As a young parent of a two year old boy, myself and my partner have been living with my parents. Although we are eternally grateful to them we are also driving each other mad! We are disrupting their home and routine, but we are also desperate to have our own space and privacy. We are, however unable to obtain a mortgage at this stage so a granny flat is the ideal situation. We gain the much needed space and my parents add value to their home. In time [when we’re gone!] they can convert it into an office space or a studio for my mam to continue with her love of painting. So it’ a win-win situation.”
So what is a Granny Flat??
A granny flat is a term used for a secondary dwelling on a property. They can be built attached to the main house or can be a separate structure. In some cases it can actually be cheaper to create a new building, as it does not interfere with the structure of the house, also adding value to you home – and this is one of the key reasons granny flats are growing in popularity as a more cost effective alternative to renovation.
This is ideal for young families who are struggling to get onto the property ladder. While a granny flat is traditionally seen as a way to add more space to your home for relatives to live in, a granny flat can also be used as an investment that adds significant value to your property.
The benefits of building a granny flat are significant, from improving the revenue you make through rental income to enhancing the property’s overall value to keeping your family happy!