Granny flats have a unique aesthetic appeal. But that’s not the main reason why first time home owners are opting for granny flats instead of traditional real estate. We live in a world that is becoming increasingly expensive and crowded, and granny flats are the sweet spot between affordable and space-saving.

Not sure why granny flats are as popular as they are?

Here are the four reasons why granny flats are selling fast left and right:

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1. They Are Cheaper Than Traditional Homes

This is probably the primary selling point of granny flats. They’re basically like traditional housing and have all the bells and whistles you need that makes a property a home. You get a kitchen, a bedroom, a bathroom, a dining room, and as many other amenities that you want. All that, minus the hefty price tag you get from buying an actual hose.

A one-bedroom granny flat starts at $130,000 and can go up to $300,000, which is much easier to pay off than traditional real estate. With granny flats, first time home owners can enjoy the security of owning their own home without the anxiety of having to pay off mortgage. It’s a sustainable asset that pays for itself throughout the years.

There’s all the appeal that comes from mobility. When you invest in traditional real estate, it feels like your fate is sealed; that’s the home you’re owning for the rest of your life. But when you build a granny flat, you don’t have to feel like you’re tied to that place. You can easily sell the property or rent it out when you no longer want to make it your permanent residence.

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2. Granny Flats Offer Limitless Customisation Options

Space is never a limitation when it comes to customisation. If you thought conventional homes had the space to accommodate as many flashy details and quirky elements as possible, wait til you see what granny flats can accommodate.

From a home studio to a five-seater home theatre, a granny flat can accommodate anything. Space-saving solutions can be incorporated in every nook and cranny to give way for other features. Want a bed that folds up in the day? No problem. Want sub-level shelving? We got you.

Contrary to what most people would think, the space granny flats offer actually inspire the most creative ideas. And because these homes are built from scratch, you can incorporate all the awesome details you want that would add character to your home, making it truly yours.

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3. The Brisbane First Home Owners’ Grant

Even the Queensland Government supports the granny flat movement. They offer a grant called the First Home Owners’ Grant which is a $15,000 or $20,000 grant designed to help Australian citizens successfully own their first home. The best part? It applies to any kind of home – even granny flats!

Applying for the home owner’s is quite easy. While there are requirements for eligibility, they are less about limiting potentially eligible candidates and more about ensuring that only first-time grant recipients and Australian citizens and permanent residents reap the benefits of this grant.

Interested parties can apply through a bank or the Office of State Revenue. Simply send in an application form along with some supporting documents, but not before you have checked whether or not you’re eligible for the grant. More information on the First Home Owners’ Grant is available here.

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4. Investment Potential

Granny flats make great investments. When you decide you want to invest in a much bigger home, renting out your granny flat for $2,000 to $6,000 a month, depending on how many bedrooms it has, can definitely help pay off your mortgage. Granny flats are a great source of additional income and don’t require that much financial backing.

Because granny flats are versatile, they can be anything you want them to be. You can rent it out as a residence or as a remote home studio or a personal office for someone else. You can make several improvements on your granny flat to increase its value so you can earn more money from it.

Brisbane Granny Flat Build Converted Garage

Why Granny Flats? Because They’re Practical

At the end of the day, you don’t need another reason to invest in a granny flat other than they are a practical residential solution for the modern homeowner. They’re accessible, customisable, and can easily be sold or rented when the time comes. What more can you ask for?

Want to start your granny flat building journey?

Get in touch with Hoek Modular Homes and let’s build an awesome home today!