Granny flats: more than just a backyard project
Adding a second dwelling to an existing block appears to be a no-brainer when it comes to generating extra income, but there's more to consider than just banking the rental receipts.
Granny flats can turn underutilised space into income but there are downsides to consider too. (Image source: Lightitup/Shutterstock.com)
Granny flats are having a moment.
Whether it’s the housing shortage, rising build costs or tighter borrowing conditions, more and more homeowners are exploring the idea of adding a second dwelling to their property.
But before jumping in, it’s important to see a granny flat for what it really is. This is not just a simple backyard addition. It is a strategic decision that needs to be carefully weighed up and thought through.
One of the biggest…
