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Humble Granny Flat Makes Comback for Savvy Investors – Channel 9 News

As property prices continue to soar savvy
investors and home owners are finding new ways to make massive returns. The trend of
the humble granny flat is booming and new laws are making it easier than ever for families
to cash in on their own back yard. While Robert Davey kicks back in his newly
built granny flat meters away his house is paying down his mortgage. You’ve got someone else to help you contribute
towards the costs. His back yard addition in Ipswich is just
one of the slick new granny flats popping up across the South East. Some of the outer suburbs there is increasing
demands for the properties with their granny flat. They come with modern bathrooms, even built
in laundries and with a moderate outlay of around $120,000.00 can reap big returns if
you rent them out. That I’ve made it very liveable, it’s
a good size, I’ve pretty much got everything I want in it. It’s a trend not just in Ipswich but across
the South East with 150 applications in Brisbane and 60 on the Gold Coast last financial year
– now some councils are making it easier to cash in. Logan recently changed their planning to allow
granny flats to be rented out, something Ipswich did years ago but in Brisbane granny flats
can only be built for family members to occupy. Granny flats are very popular with parents
who might have teenage children who are looking for their own personal space. On the Gold Coast the council has made it
easier for families to live together on the same block. The best thing about that is that the infrastructure
costs to that is waived, that’s a saving of $20,000.00. If you’re thinking of adding a granny flat
there are some simple things you should remember. Make sure there is a separate entrance to
the residence and consider adding a covered outdoor entertaining area. You don’t have to build new, modifying an
existing space can also be worth your while. In the longer terms granny flats will add
value but it’s important to look at the location of the property and whether or not
there is demand in that location. Claire Hunter, 9 news

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