Investing on granny flats other than normal sized a home has various advantages. The government passed new laws back in 2009 that made it for easy investors to deal with this kind of property.
When you build a granny flat, you will get extra rental income. This is one of the major benefits for investing in this property. Owing one in Sydney is a major boost to your income. It is an extra source of income for paying your mortgage fast. As a result, it quickly leads you towards financial freedom. Visit here to find your next investment.
Renting out a granny flat helps in spreading the income risk. In case, you have one investment property, renting out a granny flat makes sure rental income in guaranteed in case that one property is vacant.
A granny flat increase the value of your property as compared to normal sized home. The family sees extra rooms as room for teenagers while investors see it as extra income. Investors will be willing to spend more money on a property with granny flats as compared to normal homes.
A granny flat makes it possible to have more tax depreciation available to the property owner. You get extra claimables on the depreciation schedule. In case, you build a new flat it is much easier to claim a good number of paper losses. As a result, you offset the amount of tax payable each year.
Granny flats do not interfere with the structure of the house and cost effective instead of renovation. There are becoming more trendy and granny flat builders build them quickly as compared to normal homes that would take longer time to build. Normal houses have high prices and rent especially for adult kids and teenagers. However, a granny flat are lower thus easier to get clients.
The Sydney market is somewhat expensive for normal sized homes; therefore invest in a granny flat that will not drain you. Compared to normal sized homes, granny flats have myriad uses such as home offices, housing elderly parents, lodging for young couples and much more.
It is important to hire experienced and skilled granny flat builders in Sydney. This is because skilled builders will use top quality building materials therefore increase the value of your property. Skilled granny flat builders will make value for your money for this kind of property investment. They know the modern trends in terms of both interior and exterior designs. Therefore, you will get a modern flat that will attract clients more easily.
For more information visit progrannyflats.net.au