I have done this. On a 700m2 block where it adheres to the privacy and space factors you suggested. It appeals to investors from a cash-flow perspective. In about 10 years the GF income could cover the 130k build loan (back in 2019). And in that time it helps hold the property at almost neutral income pre-tax... In my instance we have had a GF home for 4 years now, (purchased through POP) and its been super-easy to hold the asset, and it's grown in value. I know it won't always work, but if you know what you are looking for it can work.. make sure yo do your own homework! don't trust everything the agent says... educate yourself and direct your own way with their help! :).
I love to hear a good news story where you've been careful in how you've made improvements to your property. One question - you say it's grown in value. How have you measured this? And have you compared against similar houses without a granny flat?
I think that you make some valid points about ruining the asset; I love having a four-bedroom house on a 900m2 block as the back yard is my private space for the kids to play and for BBQ's and relaxation. A granny flat would diminish the pool of potential buyers for a house on a large-size block. Another thing to consider is that if I had $120K in cash available in the bank (or whatever it costs to build a granny flat), I might be better placed to use it as a deposit to simply buy another house and get a rental income from it. I think that granny flats are promoted by some of the buyers agents out there whom profit from their construction.
how can it will decrease property value as it is generating income for a investor. there are many houses with small backyards. consider same leave some space for backyard and use rest for gran flat.
I bought 2 x 6mtr fully self contained portable accommodation pods that I set up in my yard. Current income is over $1000.00pw for the 2 pods. I’m retired so the passive income is very important. They cost around $30k each all up including plumbing, power etc and I can just sell them if I decide to sell the property one day! Much better way to go than a granny flat in my opinion 👍
It's great how we can profit from the way market pressure forces people without homes to pay so much for housing than the value they provides. Nothing better than a little supply & demand based exploitation. Beats working anyway.
I have done this. On a 700m2 block where it adheres to the privacy and space factors you suggested. It appeals to investors from a cash-flow perspective. In about 10 years the GF income could cover the 130k build loan (back in 2019). And in that time it helps hold the property at almost neutral income pre-tax... In my instance we have had a GF home for 4 years now, (purchased through POP) and its been super-easy to hold the asset, and it's grown in value. I know it won't always work, but if you know what you are looking for it can work.. make sure yo do your own homework! don't trust everything the agent says... educate yourself and direct your own way with their help! :).
I love to hear a good news story where you've been careful in how you've made improvements to your property. One question - you say it's grown in value. How have you measured this? And have you compared against similar houses without a granny flat?
I think that you make some valid points about ruining the asset; I love having a four-bedroom house on a 900m2 block as the back yard is my private space for the kids to play and for BBQ's and relaxation. A granny flat would diminish the pool of potential buyers for a house on a large-size block.
Another thing to consider is that if I had $120K in cash available in the bank (or whatever it costs to build a granny flat), I might be better placed to use it as a deposit to simply buy another house and get a rental income from it. I think that granny flats are promoted by some of the buyers agents out there whom profit from their construction.
Very good points... and I suspect you may be right about the last one in particular.
When people airbnbs are making almost weekly rent in one day it makes sense.
If a granny flat would take up your whole backyard, you’ve invested in the wrong property to begin with. Land is where it all at.
how can it will decrease property value as it is generating income for a investor. there are many houses with small backyards. consider same leave some space for backyard and use rest for gran flat.
I think those "pumped on property" guys would disagree with you!
Oh there are heaps of people who disagree with me!!! 🥱
I bought 2 x 6mtr fully self contained portable accommodation pods that I set up in my yard. Current income is over $1000.00pw for the 2 pods. I’m retired so the passive income is very important. They cost around $30k each all up including plumbing, power etc and I can just sell them if I decide to sell the property one day! Much better way to go than a granny flat in my opinion 👍
Can you pls point out contacts of companies where I can get $30K portable pods. Thanks. Good Bless
Ditto above. What pods did you use? What are are you in as that rent sounds good.
@ I can’t send a photo buy if you Search ‘Apple Pod tiny home’ they should come straight up. They are white with mainly all glass across the front.
It's great how we can profit from the way market pressure forces people without homes to pay so much for housing than the value they provides. Nothing better than a little supply & demand based exploitation. Beats working anyway.
That's very cynical of you ;)
@@veronicamorganproperty Who better to spot cynicism than someone who made a career out of it 😉