Birmingham Gardens Granny Flat Increases Rental Property Value for Savvy Landlords
Let’s face it, there is a huge cloud of uncertainty around the Australian housing market.
As reported by the ABC, “The spread of coronavirus across Australia could see unemployment reach about 10 percent and house prices drop 20 percent — and that may not even be the worst-case scenario, according to one economist.”
That’s why smart property investors are looking to build granny flats on their existing properties.
Granny flats make for low-cost, low risk, high return property investment options to expand any property portfolio.
For this local Novocastrian couple, building a granny flat was the perfect option to increase the value of their Birmingham Gardens investment property.
Not to mention, it dramatically increased their property cash flow.
Customising the Birmingham Gardens Granny Flat Floor Plan
This couple chose the Alba.
A contemporary two bedroom granny flat with a modern bathroom, laundry and open plan kitchen.
The Alba is part of our designer range and not to mention, a university student’s ultimate dream pad.
The customers chose to make a few modifications to their Alba granny flat to make it more appealing to students.
Because, let’s not forget, that university students want all the luxuries of modern housing designs, without the price tag. 🤣
The addition of ducted rangehood and bathroom exhausts means less upkeep and maintenance, both for the tenants and the landlords.
Upgrades to modern architectural aesthetic features such as raked ceiling, roller blinds and highlight windows make the space inviting, comfortable and relaxing.
For those seeking a little more than the standard look, the team at Backyard Grannys can custom design and build your granny flat according to your style preferences and specific requirements.
In fact, over 90% of the 700 granny flats Backyard Grannys we have built to date are either custom-designed or are modified versions of the original floor plan designs.
MAXIMISING RENTAL PROPERTY SPACE WITH A GRANNY FLAT
Building a granny flat is a cost-effective way to make the most out of your existing rental property and location.
There are not many opportunities where a return of up to 20% or more could be achieved.
By having a granny flat built on your existing property it will provide a whole other income stream for you.
Borrowing $150,000 at 3% interest rates with a rental income of $300 per week,
that’s an interest repayment of $4500 a year or $86.50 cents per week.
Take a closer look at what’s possible with our Return on Investment ROI Calculator.
Think about the possibility of doubling your income from one piece of land!
Maximising the space with a granny flat is not only an easy way to make more rental income, without having to go through the hassle and time-consuming process of buying another property.
It’s also a low-maintenance build and allows for more tenants on any property.
BIRMINGHAM GARDEN GRANNY FLAT BUILD TIME
Built-in just 13 weeks, this Birmingham Gardens granny flat is spacious, low cost and low maintenance – perfect for uni students moving out of home for the first time and budget-friendly, which is ideal for students wanting to save a bit of money on their rent.
For landlords looking to make a little extra money on their investment, granny flats are the perfect solution.
With a wide range of designs available,
building a granny flat with Backyard Grannys is a low-cost, low-maintenance option to increase the value of your investment property.
Thinking of building a granny flat in the Newcastle area? Learn more here. or call us on 4947 2800