Granny Flat Plans

5 smart tips for Granny flat investors

The subdivided apartments found inside any house if often termed as Granny Flats. The granny flats in WA or anywhere in Australia are also called as mother in law homes. This is one of the topmost ways of making money from the unused spaces within your home. If you check at the granny flat designs you can find your own bathroom along with a kitchenette. In Australia it is a lucrative business investment option, which helps in creating a positive cash flow over any property investment provided you do things right. If you are keen to put your money in this domain, don't forget to check the following 5 instructions as under.

1). The first thing you are supposed to check is size of your potential granny flat plans wherein you are investing. The property must be able to have minimum area of 450 square meters with 12 meters of space at the frontage side at the building line.

2). Do check it over the corner block as it should be able to have its separate street at the front. With this you can certainly end up getting smarter rental return. Privacy is an imperative element, which will help in adding up the returns. However, if you fail to find this block ensure you at least find a fine side access for your potential tenants that can provide them their own separate entry.

3). The other important thing to check is the 149 certificate of the potential property that is based in any residential areas. Also check whether the location you have doesn't really fall in the fire, floor or some mine locations. Such issues generally invite complications like not finding the complying development certificate or the CDC in NSW. If you face this difficulty, you simply have to undergo the Development Application process with the respective council that simply makes the prices high. Also, this procedure is very much time consuming, so superior check your potential granny flat builders' profiles before investing your money.

4). You can ask the granny flat plans or the builder in order to showcase the flat or the space carrying the minimal slope substitute to get the topmost returns. The flats simply decrease the charge and give you back a fine return on your investment.

5). If your potential property has some big trees in it (higher than 4 meters) inquire your builder to create the granny flat at least 3 meters away from the tree. If you fail to do this, you would then necessitate a separate approval from the council for removing the tree, which can further complicate the procedure and increase the granny flats prices.

Comment Stream