‘Granny flats’ back in fo­cus for buy­ers

The Weekend Post - Real Estate - - Front Page - BIANCA KEE­GAN

main­tain their own liv­ing space.

“In sell­ing a num­ber of par­tic­u­lar prop­er­ties at the beaches re­cently, I have no­ticed there is a strong in­ter­est in prop­erty with sep­a­rate ac­com­mo­da­tion op­por­tu­ni­ties,” she said.

“Whether it is a sep­a­rate granny flat or a room with its own ameni­ties within the main house, these are seen as a great as­set.”

Ms Thomas said sep­a­rate liv­ing spa­ces were also an op­por­tu­nity to cre­ate an in­come be­fore “mum and dad moved in”.

“This in­ter­est is be­ing driven by buy­ers want­ing to ac­com­mo­date el­derly par­ents or buy­ers want­ing the abil­ity to gain ex­tra in­come from board­ers or stu­dents at the lo­cal univer­sity and lan­guage schools,” she said. “Granny flats are gold; buy­ers are search­ing for them and will pay a pre­mium on prop­er­ties with this op­tion.

“The ex­tra ac­com­mo­da­tion needs to have sep­a­rate ameni­ties such as bath, toi­let or cook­ing fa­cil­i­ties to get the best re­turn.

“These prop­er­ties are also a great way for fam­i­lies to help their young teenage or adult chil­dren gain some in­de­pen­dence with­out the ex­pense of hav­ing to move out of home.”

Sep­a­rate liv­ing ar­eas, a par­ents’ re­treat, dual liv­ing and sep­a­rat­ing bed­rooms and liv­ing spa­ces within build­ing de­signs are in­creas­ingly be­ing used by lo­cal builders to cre­ate more func­tional homes.

The Aus­tralian Bureau of Sta­tis­tics says young adults are tak­ing longer to move out of the fam­ily home be­cause of higher ed­u­ca­tion and af­ford­abil­ity chal­lenges.

GREAT AS­SET: The granny flat has been mak­ing a come­back as fam­i­lies look to live to­gether but still have their own space.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.