Abermain couple add yet another granny flat investment property to their portfolio
Nestled in the heart of the Hunter Valley, Cessnock and its surrounding suburbs are surrounded by some of Australia’s most beautiful vineyards. But there’s more to this region than wining and dining.
Having spent the past 20 years investing in local properties, Paul and Miranda have well and truly tapped into its full potential! Based in Abermain, this savvy duo have built their fair share of investment properties throughout Kurri Kurri and Cessnock. Thanks to affordable sites well-suited to building granny flats, they’ve steadily added to their collection of rental homes over the decades.
And as housing prices across the country continue to rise, more and more people are trying to hunt down reasonably-priced accommodation. With demand higher than ever and any investment gradually paid off by extra income from tenants, granny flats are a financial opportunity this Abermain couple have made the most of!
Home sweet side hustle: making money in the backyard
They’ve got the right idea, too. Buying or building a granny flat is often more cost-effective than purchasing a separate investment property, enabling owners like Paul and Miranda to claim depreciation entitlements and avoid large loans.
And then there’s the regular rental income when you open its doors to tenants. With an average ROI of 10-20%, a granny flat rental property could earn you $10k-$12.5k per year! Provided you do your homework, this might just be your most lucrative venture yet (check out our tips for maximising your granny flat income here).
After all, investing in granny flats has been a serious success for Paul and Miranda. So whv not add another to their portfolio?
Bringing 41 Northumberland St. to life
When it came to choosing a granny flat for their site in Neath, Paul and Miranda opted for our gorgeous Elanora design. Affordable, simple and comfortable, this open-plan granny flat makes for the perfect investment property.
Inside, you’ll find two modern bedrooms complete with built in wardrobes, a large bathroom/laundry and a stylish living space. Thanks to the open-plan design, the bright kitchen connects seamlessly to the dining and lounge areas.
But our favourite part? To really compliment Hunter Valley’s countryside charm, this home includes a verandah with merbau hardwood posts. Spanning the entire length of the building, tenants can sit back, relax and watch the sun go down as they sip on local Shiraz!
Key products used for this Neath granny flat include:
- James Hardie™ 170mm Newport cladding in Basalt
- COLORBOND® roofing in Shale Grey
- Timber fascia in Surf Mist
- Hunter Valley roller blinds in Vivid White
- Hume range sliding aluminium glass door
- 66mm pencil round skirting and architraves
- Interior walls painted with Haymes 2 Coat System in Soothe SC-012E
- Downlights and fan light in each bedroom
- Panel sliding door robes in each bedroom
- Daytek external fold-down clothesline
- 3000L Enviro Slimline water tank
- United Pumice Gloss subway tiles for kitchen splashback
- Vinyl planks in Timeless Grey
- Essastone kitchen benchtop in Chalkstone
- AO601X Artusi built-in electric oven
- CACC1 Artusi electric cooktop
- ASO600RX Artusi slide out rangehood
- Midea 170L electric heat pump
- Split system air conditioning