If you're having difficulty deciding between a granny flat or an extension, it's likely because you want to increase the floor space in your home or your property. Many homeowners often need more room, especially when they love their current home and don't want to move.
Granny flats offer several benefits, such as adding value to your home, keeping loved ones nearby, and serving as a financial investment. On the other hand, a second-storey extension can expand your living space and, if done properly, significantly increase the value of your home.
However, choosing a granny flat comes with some challenges. They are ancillary structures and may require additional planning, council permissions, and logistical considerations. Fortunately, a reputable builder like GFWA can handle the entire process. Additionally, constructing a granny flat typically requires more space.
Home extensions are an excellent choice for maximizing your property's space and making the most of your current home. For instance, an extension provides a straightforward solution if your family is growing and you need more living space. In this scenario, a granny flat may not be necessary since you don't require an extra bedroom or bathroom.
The question remains: which option should you pursue? Can you accommodate a granny flat on your property, or would you prefer to expand your existing home?
A Granny Flat or Extension?
To determine the best choice for your needs, it's crucial to understand the distinction between a granny flat and an extension.
The key difference is that a granny flat is separate from the main house, whereas an extension adds to the existing structure. Even if you opt for an attached granny flat, where the flat shares a wall with the main house, it is still considered a distinct unit. A granny flat is an independent entity and cannot have a connecting door to the main house.
Can an Extension Be a Better Investment?
When considering the financial aspect, viewing a home extension as a medium to long-term investment, typically five years or more is important.
If you have plans to remain in your home for an extended period, there is a high likelihood that the home extension will prove to be a worthwhile investment in terms of financial returns.
However, it's worth noting that while extensions provide additional floor space and obtaining planning permission for them is generally straightforward; they can be time-consuming, messy, and more expensive compared to constructing a granny flat.
Therefore, a granny flat might be a superior investment option, and here's the rationale behind it.
- A granny flat provides a distinct area with various lifestyle advantages not found in a home extension. By constructing a granny flat, you create a separate space from the rest of the house, which can accommodate family members, work from home, create a playroom, or serve as a retreat for individuals who cannot afford their own space yet.
- Additionally, depending on the regulations set by your local council, you may have the opportunity to rent out your granny flat. This allows you to generate income from your investment by leasing it to tenants or family members or listing it on platforms like Airbnb.
- Another benefit is that constructing a granny flat involves prefabricated buildings delivered as flatpacks. This means the building process is less disruptive to you and your home than an extension, which often requires knocking down internal walls and builders moving around your belongings.
Why is a Granny Flat a Better Investment?
A Separate Space for Your Needs
The term "granny flat" can be misleading as it implies that it is exclusively intended for elderly individuals. However, granny flats can be customized to serve any purpose. Due to their different construction from the main house, they offer a peaceful and tranquil environment that cannot be achieved with an extension.
Granny flats provide numerous lifestyle benefits that are not attainable with a home extension. Since they are distinct from the primary residence, they can be utilized as retreats or play areas for children or family members who cannot afford their own space. With the growing trend of remote work, granny flats have gained popularity due to their flexibility and freedom as home office spaces.
The increasing popularity of granny flats can be attributed to the wide range of attractive and affordable designs available. It is easy to understand why they have become a favoured choice when considering the versatility and aesthetic appeal they provide.
You Can Rent Out Your Granny Flat
Owning a granny flat can be highly profitable. If you own the granny flat and the land it sits on, and if it is constructed to a high standard, you can rent out the space.
You can choose to have a long-term tenant, such as a relative or a friend. Alternatively, you can list your granny flat on platforms like Airbnb, which has become popular. This trend is particularly prominent when the property is in a prime area and the granny flat is designed and decorated attractively to attract guests.
One significant advantage is that your main home remains undisturbed. Building an extension typically involves tearing down walls, having builders move around your belongings, and incurring remodelling costs. In contrast, constructing a granny flat offers a simple and efficient way to gain additional space without living in a construction zone.
Having a separate space in your garden in the form of a granny flat provides greater control throughout your stay in your home. It can be modified as needed or used to accommodate an elderly relative.
Overall, investing in a granny flat is a wise decision that empowers you to shape your desired future.
Frequently Asked Questions About Granny Flat
A townhouse is more than two dwellings on the same title, usually strata. And a townhouse may be attached or detached. A granny flat, though, is associated with the main dwelling and can also be attached or detached.
Secondary suites (also known as accessory dwelling units, ADUs, in-law apartments, granny flats, and garden suites) are self-contained apartments, cottages, or small residential units, that are located on a property that has a separate main, single-family home, duplex, or other residential unit.
The studio apartment is an apartment with a single room. They are also known as single-room dwelling places or studio flats.
Is an apartment and a flat the same? An apartment is a more commonly used American term for a cluster of rooms that could be over one floor. A flat is a British term for a set of rooms that forms a residence within one floor.
Generally, a condominium is a private residence rented out to tenants; it can be a flat/apartment or an independent house. But in everyday use, 'condo' is referred to apartments and flats only. Plus, condominiums are owned and rented by individuals, so renting a condo is more of a personal, one-on-one process.
How Do I Decide?
The best option between a granny flat and an extension depends on the specific purpose for which you require the extra space.
A granny flat is an excellent choice when you need additional space for activities or purposes separate from your home or personal life. Despite its proximity to the main house, a granny flat provides a clear separation. It is ideal for home offices, areas for teenagers to hang out in, or accommodations for elderly relatives.
On the other hand, if you need extra space for something closely connected to your daily life, an extension may be more suitable. For example, if you have a growing young family and require additional bedrooms, a separate granny flat might be better for younger children who need to be closer to the main living area.
Building a granny flat for rent lets you keep your main home private while adding space for tenants. Tenants can keep their personal lives private in a granny flat.
The decision can vary depending on the suburb and the specific house when considering the potential increase in property value. Consulting a real estate agent can provide valuable insights into the preferences and values of buyers in your local market. For example, a granny flat might add more value to a 5-bedroom home in certain areas than an extension. Each property and situation should be evaluated individually to determine whether a granny flat or extension is the right choice.
Can You Construct a Granny Flat Larger Than 60 sqm?
The feasibility of a granny flat and an extension will be influenced by the size of your land and the regulations set by your local council. However, it is common for ground floor extensions to have a maximum size of around 80 square meters.
It's important to consider that the cost of an extension encompasses more than just the construction itself. Therefore, it's essential to carefully evaluate all associated expenses before proceeding with an extension. For example, a 60-square-meter extension could save you anywhere between $20,000 and $75,000, depending on the materials' quality. This amount could be sufficient to cover the costs of furniture and curtains.
Can You Join a Granny Flat to Your Main House?
Indeed, this is often referred to as an attached granny flat. It is a structure connected to your main house, extending your existing home and sharing at least one wall.
However, it is important to note that there cannot be a direct entry door connecting the main house and the granny flat. The granny flat must have a separate entrance.
Remember That This Is a Big Decision
Engaging in significant structural modifications to your house or adding a new granny flat to your property entails substantial work. Neither option can be considered the "easy way out," as both involve complex building processes. Therefore, hasty decisions driven solely by factors like budget or timelines should be avoided.
Opting for something solely based on affordability or immediate convenience can result in long-term disadvantages. While budget is undoubtedly an important consideration in your building planning process, assessing other factors beyond the initial building cost is crucial. Evaluating the future investment potential and the impact on your property's value is essential. If you choose a small extension as a "cheaper" alternative to your desired granny flat, you may miss out on the long-term rental potential that a granny flat offers.
Take the time to carefully consider your needs and the implications for your lifestyle and property value. Seek advice from experienced builders, such as our team, to ensure you make an informed decision based on a thorough understanding of the process. You might be pleasantly surprised to discover that building a granny flat is often less challenging or expensive than commonly believed.
Conclusion
A granny flat is a unique and cost-effective solution for homeowners looking to increase floor space in their home or property. It offers several benefits, such as adding value to the home, keeping loved ones nearby, and serving as a financial investment. On the other hand, a second-storey extension can expand living space and significantly increase the value of the home. However, choosing a granny flat comes with challenges such as additional planning, council permissions, and logistical considerations.
A granny flat is separate from the main house, whereas an extension adds to the existing structure. An attached granny flat shares a wall with the main house but is still considered a distinct unit. It is an independent entity and cannot have a connecting door to the main house.
A home extension is a medium to long-term investment, typically five years or more, with financial returns typically being more worthwhile for extended stays. However, obtaining planning permission for extensions can be time-consuming, messy, and more expensive compared to constructing a granny flat.
A granny flat provides a distinct area with various lifestyle advantages not found in a home extension. By constructing a granny flat, you create a separate space from the rest of the house, which can accommodate family members, work from home, create a playroom, or serve as a retreat for individuals who cannot afford their own space yet. Additionally, constructing a granny flat involves prefabricated buildings delivered as flatpacks, making the building process less disruptive to you and your home.
Granny flats can be customized to serve any purpose, offering a peaceful and tranquil environment that cannot be achieved with an extension. They can be used as retreats or play areas for children or family members who cannot afford their own space. With the growing trend of remote work, granny flats have gained popularity due to their versatility and aesthetic appeal.
Owning a granny flat can be highly profitable, as it can be rented out to long-term tenants or listed on platforms like Airbnb. Building an extension typically involves tearing down walls, having builders move around belongings, and incurring remodeling costs. In contrast, constructing a granny flat offers a simple and efficient way to gain additional space without living in a construction zone.
The decision between a granny flat and an extension depends on the specific purpose for which you require the extra space. Consulting a real estate agent can provide valuable insights into the preferences and values of buyers in your local market. Each property and situation should be evaluated individually to determine whether a granny flat or extension is the right choice. Ground floor extensions typically have a maximum size of around 80 square meters. It's crucial to evaluate all associated expenses before proceeding with an extension, as it can save between $20,000 and $75,000 depending on materials quality.
An attached granny flat is a structure connected to your main house, extending your existing home and sharing at least one wall. However, there cannot be a direct entry door between the main house and the granny flat. Making significant structural modifications or adding a new granny flat involves complex building processes, so hasty decisions based on budget or timelines should be avoided. Assessing future investment potential and property value is essential, as choosing a small extension may miss out on long-term rental potential. Consider your needs and lifestyle, and seek advice from experienced builders to make an informed decision. Building a granny flat may be less challenging or expensive than commonly believed.
Content Summary:
- If you're having difficulty deciding between a granny flat or an extension, it's likely because you want to increase the floor space in your home or your property.
- However, choosing a granny flat comes with some challenges.
- Additionally, constructing a granny flat typically requires more space.
- Home extensions are an excellent choice for maximizing your property's space and making the most of your current home.
- Can you accommodate a granny flat on your property, or would you prefer to expand your existing home?
- To determine the best choice for your needs, it's crucial to understand the distinction between a granny flat and an extension.
- The key difference is that a granny flat is separate from the main house, whereas an extension adds to the existing structure.
- When considering the financial aspect, viewing a home extension as a medium to long-term investment, typically five years or more is important.
- Therefore, a granny flat might be a superior investment option, and here's the rationale behind it.
- A granny flat provides a distinct area with various lifestyle advantages not found in a home extension.
- By constructing a granny flat, you create a separate space from the rest of the house, which can accommodate family members, work from home, create a playroom, or serve as a retreat for individuals who cannot afford their own space yet.
- Additionally, depending on the regulations set by your local council, you may have the opportunity to rent out your granny flat.
- However, granny flats can be customized to serve any purpose.
- Granny flats provide numerous lifestyle benefits that are not attainable with a home extension.
- Since they are distinct from the primary residence, they can be utilized as retreats or play areas for children or family members who cannot afford their own space.
- With the growing trend of remote work, granny flats have gained popularity due to their flexibility and freedom as home office spaces.
- Owning a granny flat can be highly profitable.
- If you own the granny flat and the land it sits on, and if it is constructed to a high standard, you can rent out the space.
- Having a separate space in your garden in the form of a granny flat provides greater control throughout your stay in your home.
- Overall, investing in a granny flat is a wise decision that empowers you to shape your desired future.
- The best option between a granny flat and an extension depends on the specific purpose for which you require the extra space.
- A granny flat is an excellent choice when you need additional space for activities or purposes separate from your home or personal life.
- Despite its proximity to the main house, a granny flat provides a clear separation.
- On the other hand, if you need extra space for something closely connected to your daily life, an extension may be more suitable.
- Building a granny flat for rent lets you keep your main home private while adding space for tenants.
- The decision can vary depending on the suburb and the specific house when considering the potential increase in property value.
- Consulting a real estate agent can provide valuable insights into the preferences and values of buyers in your local market.
- Each property and situation should be evaluated individually to determine whether a granny flat or extension is the right choice.
- It's important to consider that the cost of an extension encompasses more than just the construction itself.
- Therefore, it's essential to carefully evaluate all associated expenses before proceeding with an extension.
- This amount could be sufficient to cover the costs of furniture and curtains.
- Indeed, this is often referred to as an attached granny flat.
- Engaging in significant structural modifications to your house or adding a new granny flat to your property entails substantial work.
- While budget is undoubtedly an important consideration in your building planning process, assessing other factors beyond the initial building cost is crucial.
- Evaluating the future investment potential and the impact on your property's value is essential.
- If you choose a small extension as a "cheaper" alternative to your desired granny flat, you may miss out on the long-term rental potential that a granny flat offers.
- Take the time to carefully consider your needs and the implications for your lifestyle and property value.
