TOP REASONS TO INVEST IN A GRANNY FLAT
Granny flats are mostly regarded as an ideal way of making your home more spacious. You’ve probably got a teenager who you feel needs more space or elderly parents who crave being near the grandchildren but can’t seem to find where to live. Granny flats are basically viewed as well suited for teenagers or elderly people but they also happen to have high investment value. Granny flats can serve as a kind of asset that can rake in revenue for you and the best part is that they are relatively less costly to build, can be maintained quite easily, and can serve as a reliable stream of income. This article covers the top reasons and benefits as to why you should invest in granny flats today –
- Extra income from rent
This is one very great reason to invest in a granny flat. Now you no longer need to use them as just another house for your teenager or elderly parents. Granny flats can fetch a reasonable amount of income in the form of rent and can generate money for you every week. The additional revenue that you get from renting out your granny flat can be useful in helping you to pay off the mortgage quicker and help you become financially free. If you have additional space that seems to be wasting, simply convert it into a granny flat and get extra income from it. Avoid putting all your hope on your job and simply create an additional income stream by simply putting your granny flat up for rent.
- Income risk distribution
Most people in the world today seem to place so much focus on their job as the source of income to take care of their needs. Granny flats are also an investment property that you can use as a second medium for generating funds. When you put your granny flat for rent, you ensure that you generate a guaranteed income on weekly basis. it is very unlikely that your granny flat will remain vacant, so simply spread out your income risk by not banking only on your job as a way of getting income.
- Enhancing your property’s value
You can enhance how valuable your property is by simply having a granny flat. Families may only see a granny flat as an additional space for housing their teenager. However, a good investor regards a granny flat as a source of revenue and will be moved to do what it takes to purchase the property. You could consult a real estate professional in your locality in order to determine how much value your granny flat will give to your property. Keep in mind, however, that you must contract very skilled and highly reputable experts to build your granny flat in order to ensure that you get the best quality. If you have doubts about owning a granny flat, consult any real estate agent that is based in your locality to ascertain the real addition of a granny flat to your property’s worth. Once your property is quality enough, you should find it easy getting an interested buyer who has an interest in properties that come with a granny flat.
- Increased tax depreciation
If you have a granny flat and you put it up for rent, you will have the opportunity to get more claims on your own schedule for depreciation. If your granny flat is a brand new building, then you will have the opportunity to claim a very considerable amount in terms of paper losses and this can assist you in offsetting your tax payments annually.
- Work Environment
Today, a lot of persons are finding ways to work from the comfort of their home. The drawback happens to be that so many distractions at home can prevent you from staying focused on your job. With granny flats, however, you can now have a personal station where you can work from and stay concentrated on your job. When the house atmosphere is mixed in with your profession, it can cause you to be unproductive. So, own your personal workstation that is free of distractions by having a granny flat.
- Extra housing space
Giving adult children or older members of the family their own personal space with a granny flat can help to foster a feeling of independence. Also, you will be able to monitor their welfare effectively.
- Retirement space
Granny flats can serve as accommodation for elderly parents as it gives them the opportunity of residing in the same place as you while receiving care from you. Giving your elderly parents their own space without interfering with your regular family life helps them to feel independent. Granny flats are the best way to give your parents their own retirement space. You can have your granny flat with wider doors, a bigger bathroom, and also gadgets specially designed to ease their life.
As leaders in the industry, we are experts in building custom-made granny flats. Whether you need extra space for your adult children or you wish to rent it out for income, a granny flat is the best solution for you. As soon as your granny flat is completed, an Engineer will certify that the building meets every building regulation and you will also be given certificates for all Electrical work and Gas work carried out on your granny flat. We also offer a 10-year Structural Guarantee on all our projects.
Designroom Construction trades as GrannyFlats.
Contact us today to give you the best granny flat ever!
Call us on087 2889127
email us at [email protected]
Visit our office at 7 The Mall, Main Street, Leixlip. Co. Kildare