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- Country: United States
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- Listed: January 30, 2024 2:09 pm
- Expires: 6 days, 15 hours
Your home is your most important asset. It is a tool by which you can show the world that you are a hard-working person who understands what life is all about, and it is a way to ensure the comfort of your family. But what if you want to move to a more accommodating property that gives you greater scope for activities? Australia’s property market has grown enormously in recent years, and today, cities like Sydney and Melbourne are home to some of the most sought-after properties on the planet. However, the major metropolises of our country are also characterised by housing prices that are impossible for the majority of average families.
Are you about to welcome a new family member? Would you like to live in a dwelling that gives you more breathing room? Then, unfortunately, your choices are limited. One option to consider is to use the professional services of custom home builders to build a property away from the hustle and bustle of the city that corresponds to your specific needs. But even though they may be cheaper, custom-built homes remain a considerable undertaking that will most likely require external financing.
Do you want something quicker and cheaper? In that case, an ADU built by granny flat builders will be an optimal choice. Accessory dwelling units are an increasingly popular option for Australian families looking to expand their usable space while also obtaining financial profits. An ADU built with the help of professional custom home builders will be significantly cheaper than buying a new home, and the space gained will be even more considerable.
A Practical Choice
Let’s say, for example, that you are interested in a house with a floor plan of 250 square meters, and the building you live in now measures 190 square meters. The difference in market price between your property and the one you want can be more than $500,000, depending on the area, which is significant to many families. However, the average price of an ADU of up to 60 square meters is only $100-150,000. From a financial and practical standpoint, investing in an ADU makes sense, as you will gain the same square footage for half the investment.
Moreover, ADUs built by reputable granny flat builders in West Sydney are versatile and can be used for different purposes. Need extra storage space for your possessions? Then granny flats are ideal constructions, which can be customised to your specifications and adapted to suit your loved ones’ needs. Have you always wanted a separate workroom? Then, an ADU is the solution. Do your children need space? In that case, granny flats can act as separate bedrooms for your little ones. Want to keep an eye on your parents? If so, ADUs are the most practical solution to keep your relatives nearby.
A Perfect Choice to Supplement Your Income
The practical advantages of a quality ADU built by granny flat builders in West Sydney are countless and can go a long way in enhancing the comfort of your loved ones. However, the main perk of an accessory dwelling unit is the profit you can make by renting out the building. The average house price in West Sydney revolves around 1.5 million for newly-built properties, a value that is hard to manage for the majority of people who move to Australia’s metropolises for work opportunities. Therefore, granny flats have gained popularity in recent years and have become synonymous with backyards in Sydney, Melbourne, and Perth.
Do you want to build a granny flat? Then, in just a few years, the construction costs will be amortised. The median rent in West Sydney is $500-600 per week, and for a granny flat, a reasonable value revolves around $450. Considering that a year is equivalent to fifty-two weeks, your annual rental income from the granny flat will be $23,000. Of course, you will have to pay taxes on this amount, but even in the most pessimistic forecasts, the construction of the ADU will pay for itself in a maximum of eight or nine years.
Furthermore, an ADU will add significantly to the market value of your primary dwelling, to the tune of 30%. Is your dwelling worth one million dollars? Then, a simple investment of $150,000 will automatically lead to an increase in market value of $300,000, doubling your money. ADUs built by granny flat builders make financial sense and, for many Australian families, are the safest possible investment. Plus, their impact on local communities is positive, and they are much more environmentally friendly than traditional residential projects.
What to Seek in Custom Home Builders?
Whether you are interested in the services of custom home builders or the expertise of professionals specialising in ADUs, the most important thing is to choose regionally recognised professionals who are up to date with the building regulations active in your area. Before you choose a company offering custom building services, it will be necessary to check online reviews, browse portfolios, and ensure the contractors have the licenses required to handle your project. Plus, the builders you call must be transparent with the scope of the past work, offer an affordable pricing structure, and be ready to answer your queries.
High-quality custom home builders must guarantee their services with a formal long-term warranty, be adequately insured, be helpful in the process of obtaining building permits, and be ready to listen to your subjective requirements. Granny flats are not cheap, but they are an affordable alternative to building or purchasing new dwellings. And when constructed by professionals, their quality can be synonymous with the success and well-being of your loved ones and contribute decisively to your financial freedom prospects.
A Fantastic Long-Term Investment
Granny flats, when built by licensed custom home builders, represent the best financial investment you can make for your residence. ADUs are a way to increase the square footage of your primary dwelling, enhance the well-being of your family, and get your elderly relatives close by while also increasing the market value of your lot. Are you only interested in the financial aspect? If so, granny flats are perfect, as the rental income obtained from them will provide a passive revenue stream that will cover the construction costs of the ADUs in just a few short years.
Granny flats have a positive impact on local communities, grow the profitability of small businesses, foster the communion between neighbourhoods, improve the value of regionally listed real estate properties, bring affordable housing options for young, ready-to-work individuals, and are a sustainable way to utilise already zoned land. A quality granny flat can be a workspace for your significant other, a space to rent, an extra bedroom for your visiting relatives, a game room, or even a studio for your artistic endeavours. The keyword when it comes to ADUs is versatility, which is often associated with significant financial advantages and can be the key behind your long-term options.
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