Granny Flats: A Real Estate Investment Opportunity?

In today’s day and age, you want to make sure that you have more than one way of procuring money. So, most people opt for a secondary income via investments. Currently, more and more people are investing in the Real Estate sector. Granny flats are slowly becoming a rising trend as well.

A granny flat is like a separate house unit that isn’t attached to the main house but is built in the land around the main house. It’s is relatively small in size and can only accommodate a single room, a bathroom and a kitchenette. Over the years, granny flats have become quite popular amongst people and a number of contractors now excel in designing and building them. However garcinia, before you have one built, it’s important that you consider the pros and cons so that you know whether or not granny flats can be considered to be a suitable Real Estate investment.tgdaily zetaclear

The Good Side:

  • Granny flats are normally considered to be a great Real Estate investment primarily because they can be rented out to a single tenant, hence allowing you to generate a secondary income as well.
  • Granny flats are also known to raise the overall market value of your house and property as well. This is a plus point if you plan on selling your house at some point in the near future.
  • Granny flats can also be used as a miniature guest house for visiting relatives or for aging parents as well since they get a space to themselves without compromising on their independence and privacy and, you can keep an eye on them from a distance.

The Bad Side:

 

  • A granny flat means building an extra unit, so you will deal with the costs of construction and maintenance, so it is an investment that requires a decent sum of money.
  • At the same time, with the granny flat, you will also have to end up paying more bills. So, a higher electricity, water and heating bill as well. So, your expenses will be increased once you opt to build a fully functioning granny flat.
Investments