Granny Flats: The New Best Thing In 2018

Granny flats have been steadily gaining traction over the past couple of years. With the increasing cost of living in Australia, it’s easy to see why more and more people are turning to granny flats as the ultimate residential solution. Population in cities continue to grow as the desired spaces for living become more and more crowded. As a result, the price of real estate is at an all-time high and is projected to soar even more in the years to come.

But all hope is not lost. Granny flats make the perfect home for anyone hoping to find a home or an investment opportunity. Now more than ever, the granny flat affordability and accessibility may be the answer to Australia’s demand for quality but cost-friendly housing.

Here are other factors that will contribute to its popularity for the year 2018:

  1. Millennials Are Looking For Properties

2018 Granny Flat Opportunity For Young Adults

Don’t let the name fool you; gone are the days when granny flats housed only your nana. Because of booming real estate prices, many millennials have been priced out of traditional real estate and are forced to look for alternative options.

Lucky for them, granny flats and other modular housing opportunities abound. The best part about granny flats is that it’s completely customizable to tailor the resident’s lifestyle and budget. Despite the quaint name, granny flats are actually home to some of the most innovative housekeeping solutions–from retractable beds to convertible living spaces.

It’s easy to create a truly unique and modern home and at a much better price range. From raw material to snazzy home features, granny flats have limitless opportunities for customization. The “grow with you” philosophy of granny flats make them the perfect homes for millennials.

  1. Good As A Starter Home

2018 Granny Flat Couple First Home

Millennials are a mobile generation. We like moving from one place to another because we like experiencing everything that life has to offer. In an age where relocation is often an option, we need housing that is a good balance between sustainable and expendable.

Buying your first ever property can be a pretty big deal and can put a lot of unnecessary pressure on prospect homeowners. With skyrocketing prices of traditional housing, people are often compelled to choose the “perfect house”. Buying a property translates into a lifestyle choice, and can often feel like a burden.

Granny flats are the perfect starter homes for people who want a place that is theirs, without worrying about committing to it. With flexible plans that have unlimited customization options, you can create a home that fits your goals, instead of tailoring your goals according to your “dream home”.

With huge mortgages becoming the dread of every homeowner, the flexible and affordable plans attached to granny flats made them a great choice in today’s economy. When the time comes, you can always move out of your granny flat and sell or rent it to someone else.

  1. Best For Work And Recreation

2018 Granny Flat Home Office

Whoever said granny flats only had to be homes? Thanks to its versatility, a granny home can be whatever you want to be. If you want to dedicate 80% of the space and turn it into a home office, your granny flat builder will be more than happy to do it for you.

The space is separate, intimate, and complete, which makes it ideal for people who work at home or would like to dedicate a separate space for their activities.

  1. Rental Opportunity

2018 Granny Flats For Rental Purposes

A granny flat isn’t just for people looking to buy their own property; it’s also for investors who want to get a foot in the demanding rental market. With low overhead, you can charge $1,000 – $4,000 for a single home, without having to worry about mortgage payments and other costs that would minimize your income.

You can choose to build a granny flat for the sole purpose of renting it out as an AirBnb. Just pick a quiet spot in a remote location and you instantly have a cabin in the woods. Or if you’re in the city, you can rent this out to tourists looking for a short stay that offers all the bells and whistles of traditional housing.

The best option is to still treat it like any other rental. You can rent this to small families or starting couples, and use the income to pay your own mortgage fees. It’s a win-win situation for everybody!

Need more proof to see that granny flat could be the one for you? Check out our 1-bedroom and 2-bedroom granny flat layouts to see what you’re missing out on.

Interested in building your own granny flat? Call or email Hoek Modular Homes today!