Lake Macquarie granny flat an ideal example of maximising investment income opportunities
Recognising the substantial return on investment that can be achieved, a recent client made the smart decision to add a quality Backyard Grannys granny flat to the Cardiff property he calls home.
Lake Macquarie suburbs, like Cardiff, are a flourishing market for architecturally designed granny flat additions today due to the substantial block sizes reminiscent of the urban sprawl of the 1960s and 1970s in the area.
In fact, Backyard Grannys has completed over ten builds in Cardiff alone in recent years – a testament to the quality workmanship and design qualities we guarantee in our granny flats. And with median weekly rental rates in the vicinity of $350-$380 per week, the opportunity to maximise return on investment is a worthwhile consideration.
Our client was clear in his brief – create a contemporary space that delivered value for money in a timely fashion that would have excellent appeal to the rental market. His own home at the front of the property would remain as is and converting the under-utilised backyard space into a source of revenue was his goal.
The location ticked appeal straight away – so close to the CBD’s of both Lake Macquarie and Newcastle, nearby the large Cardiff industrial estate (a key employer in the region), close to public transport and everyday amenities, and home to many popular sporting franchises.
Timeliness was another tick. At Backyard Grannys we have refined our processes to be as efficient as possible. For all projects, once contracts are signed, we aim to have construction completed within three to four months. In this case, we delivered a move-in ready granny flat in 12 weeks, ensuring our client had the potential to begin receiving a return on his investment as soon as possible.
Design and aesthetics are a key priority for our projects and we pride ourselves on delivering innovative and functional designs that give Backyard Grannys a competitive edge, and our client chose one of our most popular designs for his investment property – The Allambie.
At 60m2 The Allambie granny flat has plenty of room for everyday living and comfort, and entertaining. Two bedrooms, both with built-in wardrobes, are complimented by a generous bathroom that includes laundry facilities.
The prime appeal is in the kitchen and living areas. This space has a real sense of openness due to the upgrade to a glossy floor tile on the ample lounge area and the larger-than-standard kitchen, featuring a breakfast bar and gas appliances.
Our client also loved the idea of adding a touch of personal DIY to the project with fresh turf, gravel pathways and beautiful landscaping features giving this new rental property an added touch of homeliness.
With our incredible range of designs, we are able to bring the competitive edge for those looking to invest in a rental property. We can sit down with you, explain the advantages of each design, and discuss customisations until we’ve produced a granny flat that is right for you and your block of land.
Whether you’re building in Lake Macquarie, Newcastle, Port Stephens, the Upper Hunter or south towards the Central Coast, the Backyard Grannys team are here to discuss designs that will work for you.