Inhouse Granny Flats – Your Trusted Sydney Granny Flat Builder
Our currently owned investment property included a 40-year-old house with three bedrooms and two bathrooms, set on a 700m2 parcel of land. The rent was a modest $550 per week for a $1.2 million dollar property at Baulkham Hills. Land tax was now payable as the property's value went up. But this increase was not reflected in the weekly rental. To add to the issues was a 25-year-old swimming pool that had once encouraged tenants and good rents. But running costs in the winter and the power costs to operate pool pumps has in the latter years become a deterrent to many prospective families. Tenants in general do not want to look after gardens, lawns and pools.
To increase the rental viability of the property, we would have to complete one of the following options:
Our expertly crafted granny flat floor plan offers a perfect blend of style, comfort, and functionality, making it an ideal addition to your investment property. The floor plan features:
- 2 cozy bedrooms with built-in wardrobes
- Open-concept living and dining area
- Fully equipped, modern kitchen
- Functional bathroom with laundry facilities
- Garage for secure parking or storage
- Alfresco for outdoor relaxation
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- No loss of income as the house was rented while the granny flat was being built. A builders fence with power board and tap was installed to separate the tenant from the building site.
- Slightly lesser rental revenue on the house because of the loss of the pool (-$50 per week) and some of the back yard area. But it was well compensated by the second rental income from the granny flat. The tenant was compensated with an improved outdoor area that’s smaller and easier to maintain.
- A decrease in maintenance costs without the pool in the property. It also reduced water and power consumption costs for the tenant.
- Two rental incomes from one property and no increase in land tax costs.
- Only one cost for rates (but there’s a small charge per year for the additional rubbish bin).
- You can claim depreciation on the granny flat’s fixtures and fittings.
- Construction of the Granny flat including approvals were completed in approximately 9 months. Thus, making it a relatively quick “turn around” on investment.
Design by the Inhouse Group was flexible allowing for special inclusions:
- 1.5 size garage to provide additional storage
- Inclusion of the laundry in the garage to provide more space in the bathroom and allow for a linen press
- 25m2 alfresco
- Edge beam from the garage to the granny flat to allow for construction on a sloping site
- Vaulted ceilings in the living area to provide a spacious appearance
- 3 steps in sliding door from living area to the alfresco to open the space up for entertaining
- Easily upgraded finishes without extravagant increases in costs for additional, GPO’s, light fittings, stone bench top, dish washer, recess in the shower, recess mirror cabinet and the list goes on. Many of these items were offered at cost for materials and labour.
- Contractor trades separate to the building contract with Inhouse Granny Flats were offered and found to be reliable and cost efficient for drive way and paths, stone wall, fencing etc have been invaluable to finishing off the property.
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