Building a granny flat will increase your property value. The prospective buyers consider it as an extra room for one of their teens in the family, notice the extra revenue it can generate, and would be willing to spend more money on the house. Talk to a local real estate professional to find out how much value it would add to your property
More tax depreciation
The Granny flat you rent allows you to claim on your depreciation schedule. If it is a new construction, you can claim a large number of paper losses that can compensate for the tax that you have to pay annually.
This is the biggest advantage of owning a granny flat. The days have gone by when you just used to house your teenager or table tennis table. Granny apartments can be a strong source of income for capital cities to raise up to $350 per week. Whether it is a private investment property where you rent a second-income granny flat or a house in which you rent it out, additional revenue can help you pay your mortgage faster and help you achieve financial freedom quickly.
If you are seeking a family firm with solid business values, your forever home NSW has focus on helping local families develop a comfortable, high-quality home that meets their lifestyle and provides an excellent grade of custom architecture with customized and separate structure for your home.
A Source of Income
Most people rely on one income to finance their lives. Renting a grandmother’s flat offers you a second source of income. If you have only one property, the rent from your grandmother’s flat will be an added advantage.
You should be informed of the hazards and benefits of a granny apartment adjacent to your property before you leap ahead and build your own.