Lake Macquarie granny flat makes the perfect investment property
Many clients come to us to discuss how a granny flat can be used as a property investment strategy. Take Terry, for example, who came to us about his property in the Lake Macquarie suburb of Cardiff and, following the planning phase, in just 11 weeks had a new dwelling ready for tenants, a new income stream and a solid investment for the future.
Terry and his siblings grew up in the suburban Cardiff home and eventually inherited it. Seeing a valuable investment opportunity, he bought his siblings out of the home and put it on the rental market.
With the resulting steady income, Terry saw greater potential for the property. It’s located in a quiet cul-de-sac within walking distance of public transport and the local shops, so capitalising on the size of the block made sense. The decision was made to explore the option of dual occupancy and that’s when Backyard Grannys stepped in.
An Elanora design from our standard range, with upgraded Newport cladding, with minimal internal and external customisations, was the option Terry felt was the best fit for the block. An 11m2 treated pine deck featuring a privacy screen was added to the front of the compact home, and in the kitchen a breakfast bar and soft close hinges were added to the basic package.
A design popular over the years, and one that often emerges as a top seller, the Elanora is an elegant, timeless look, that hits the perfect balance between cosy and spacious. This compact design was perfect for this property as it kept a large portion of the backyard and didn’t impede on the space of the original dwelling.
Our range of designs makes the process easy for investors, plus our years of experience make us the perfect resource for any property investor. 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.
Our extensive knowledge of the Hunter and Central Coast regions also gives us an edge. Whether you’re building in Lake Macquarie, Newcastle, Nelson Bay, the Hunter region or south towards Wyong or Gosford, Backyard Grannys can help you decide which design will work best.