The Australian housing market is in a broad growth process. And because of this, your family’s prospects of moving to a bigger household are slim. Need extra space? Have your children grown up and require separate rooms to carry out their activities? In this case, the professional services of home builders in Sydney could be precisely what you need. Homes with granny flats are becoming increasingly common in the Australian market, and the reasons are apparent. For one, granny flats are a financially wise solution that, over time, will be rewarded with a positive ROI. Secondly, granny flats are easy to build and don’t require council approval.
With the average price of dwellings in Australia surpassing the $800,000 mark, homes with granny flats have become a profitable investment for many families in our country. An ADU can add an extra 30% to the market value of a residence, and from the rental income, construction costs could be written off in less than seven years. Moreover, the home builders you call upon could advise you on further modifications you can make to your property and enhance its market appeal.
ADUs also have a positive effect on the community you are part of. Major Australian cities have become work and education hubs in recent decades. And this means that the demand for affordable housing is steadily increasing. A neighbourhood full of homes with granny flats will be one where the average rental income is on the rise. The more tenants there are in a district, the greater the profitability of local businesses. And the local economy’s health is a topic that concerns us all, regardless of our financial situation.
How Can the Offerings of Home Builders Be of Help?
For one thing, using experts will bring practical advantages. The professionals you call upon will have the necessary knowledge to plan your project, know what kind of paperwork is needed to start construction and handle all the elements that can influence the final build time of your granny flat. The ADU builders with whom you collaborate will present designs that you can put into practice, will take into account your vision and discuss with you the feasibility of your plans, will draw up an initial budget for the construction, and will make sure that only the best materials are used in your new building.
By using the services of home builders in Sydney, you can guarantee the quality of your final construction and take out an insurance policy against unplanned delays. Building a granny flat is much quicker than constructing a primary property. And from start to finish, everything should take no more than three months. However, construction may be slowed down by the Australian bureaucracy.
For granny flats built in Sydney, you do not need council approval. But to get a Complying Development Certificate, you will need to have a site plan that meets the requirements of the Australian government, and you will require a BASIX authorisation to demonstrate the energy efficiency of your construction. The number of homes with granny flats built annually in Australia is increasing. And one of the reasons for this upsurge is the adoption of NWS’s Affordable Rental Housing State Environmental Planning Policy in 2009, which eliminates the need for your plan to go through a months-long approval process.
In addition, granny flats are attractive to South New Wales residents because the legislation for their creation is permissive. To be eligible for construction, ADUs must be situated on a plot of land of at least 450 m2 in size, be located next to an adjacent main dwelling, have the same owner as the primary residence, and possess a maximum interior living space not exceeding 60m2.
Why Are ADUs So Common?
The median value of Sydney properties has surpassed $1 million. And this means that people who want to increase their livable space need to invest in their dwelling, which is where ADUs come in. But there are other kinds of advantages as well. Like many regions in our country, New South Wales faces a housing crisis, and demand outshines supply.
ADUs are cheap to build, can be finalised quickly, the paperwork for their approval is straightforward, and the profitability recorded by the owners is almost always substantial. For these reasons, ADUs have emerged as a natural consequence of the real estate market situation. People need affordable housing, and owners want to record an increase in income. ADUs, therefore, are now a staple of Australian properties, adding over 30% to the market values of dwellings in trendy neighbourhoods.
ADUs can be one of the most efficient ways to increase the usable space of your household. They allow for multigenerational living, are a sustainable and eco-friendly alternative to wide-reaching construction projects, and help the local economy by encouraging demographic redistribution. Moreover, in recent years, the Australian government has encouraged the construction of homes with granny flats, relaxing planning regulations and fast-tracking the required construction approval process.
How Can ADUs Help Your Neighbors?
Firstly, granny flats can increase the housing options available on the market and allow the construction of affordable units without affecting the character of the residential area. Typically, in cities with a housing shortage, the government may approve the commencement of residential projects, which may disturb the tranquillity of neighbourhoods and take ages to complete. Granny flats encourage development on already used land, can improve the cohesion of communities, make the area more attractive to young people, increase safety, and lead to an increase in the square metre price of houses listed on the market.
Not least, granny flats have a positive effect on the regional economy. The construction of granny flats provides job opportunities for local contractors, the new influx of tenants can increase the profitability of shops or restaurants, the extra money received by owners inevitably goes back into Australian businesses, and with them, local services or infrastructure could be improved to accommodate population growth. However, unlike residential projects, granny flats do not lead to an overcrowding of local communities, having instead an essential role in maintaining a stable environment in which aging in secure conditions is possible.
They Are a Staple of Our Country’s Dwellings
Are you interested in homes with granny flats in Sydney? Then you would be one of many. Annually more and more families or young couples are turning to ADUs due to their advantages over traditional properties. The rent for a granny flat is usually lower than for an apartment or house. Furthermore, Australian regulations state that ADUs must be fully branched to utilities, which means the comfort of your loved one will be guaranteed. And so will your privacy, as granny flats must have a separate entrance from the main property in the lot.
Furthermore, granny flats offer just as many advantages if you are already a house owner needing more space. With an investment that often doesn’t exceed $150,000, you could boost your property value by more than 30%, gain the opportunity to collect rental income, create extra living space ideal for your children or close relatives, and ensure that your dwelling will have no trouble attracting a buyer when you decide to sell.