The new stan­dard in granny flats

Monthly Chronicle - - Home & Living - Granny Flat So­lu­tions built 200 granny flats across Sydney last year alone. The Hornsby-based com­pany which started in 2012, aims to de­sign and con­struct high qual­ity granny flats for clients.

Gone are the days when a granny flat was sim­ply a quick garage or shed con­ver­sion. Granny flats are now be­ing so lav­ishly built they could pass as a stan­dard home. And more of­ten than not, they’re not be­ing used by grannys!

A granny flat is de­fined as a self-con­tained ac­com­mo­da­tion within, at­tached or sep­a­rate to an in­di­vid­ual home. In the last five years, their pop­u­lar­ity has in­creased dra­mat­i­cally as in­vestors are keen to earn a sec­ond rental in­come and fam­i­lies can help ac­com­mo­date those who can­not yet af­ford their own place.

To build a granny flat in NSW, home­own­ers can have an ac­cred­ited cer­ti­fier ap­prove their granny flat as a com­ply­ing de­vel­op­ment with­out the need for lodg­ing a de­vel­op­ment ap­pli­ca­tion with the lo­cal coun­cil, sub­ject to spe­cific de­vel­op­ment stan­dards in the SEPP (Af­ford­able Rental Hous­ing) 2009 be­ing met. There are nu­mer­ous con­sid­er­a­tions but min­i­mum re­quire­ments in­clude a prop­erty size of 450 sq me­tres, a frontage of 12 me­tres and a max­i­mum floor space of 60 sq m for a granny flat.

Wally Ge­brael, owner of Hornsby com­pany Granny Flat So­lu­tions which has built 200 in the last 12 months, said a key rea­son driv­ing the in­crease in granny flats was the lack of af­ford­able hous­ing in Sydney.

Mr. Ge­brael ex­plained that granny flats typ­i­cally have an open-plan kitchen and lounge, two bed­rooms and one bath­room. “We start at about $108,000 in­clud­ing GST for con­struc­tion and can go up in price de­pend­ing on our client’s wants, budget and block.”

This is sig­nif­i­cantly less than buy­ing an apart­ment in the Hornsby area which starts at around $350,000 for only one bed­room.

He stressed how im­por­tant it is to do your re­search “and get a de­tailed on-site in­spec­tion, make sure the builder is up-front about pric­ing, ask to see their past projects and speak with past clients to en­sure they de­liv­ered on what was promised.”

The rental re­turn on a granny flat can also be very lu­cra­tive. A quick on­line search re­vealed that granny flats in the Hornsby area are be­ing rented out at be­tween $300 and $600 per week. “For an out­lay of only $108,00 that’s quite the re­turn on your in­vest­ment.”

All pho­tos cour­tesy of Granny Flat So­lu­tions

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