Designer granny flats are on the rise in Newcastle. Ideal for the investor, those looking to downsize, expanding families in need of additional space, or the newly married couple looking for affordable accommodation, a designer granny flat is the ideal addition to the average Newcastle backyard.
Newcastle is a city on the up and up. The region is proving very appealing for many people to move from nearby Sydney due to the coastal vistas, beaches, open spaces and an evolving city-scape. Thanks to considerable public and private investment in revitalising the CBD, the region has seen substantial property price growth in recent years.
The Newcastle City Council area and its surrounding suburbs still boasts an enviable stock of the traditional (and affordable) quarter-acre blocks. These blocks are the perfect size to construct a granny flat to compliment an existing primary dwelling. At a maximum size of 60m², our award-winning range of granny flat designs, provide a good choice of floor plans and styles to suit all blocks no matter what the aspect.
The popularity of granny flats continues to rise in the Newcastle region, driven by the easy approval process. Should your property and design satisfy certain criteria, there is no need to seek council approval. See the diagram below and click here for further information.
Designer Granny Flats as an Investment
Property investors in particular are embracing the architecturally-designed granny flat trend. An investment granny flat typically offers a return on investment of around 15%, providing a healthy and consistent income. Granny flats can also provide tax depreciation benefits, of anywhere up to $6,000 per year.
Keeping it in the Family
While investors remain a major client base of Newcastle Designer Granny Flats, we are now building for many more seniors. Granny flats are the perfect balance in keeping families reassured of their loved ones’ wellbeing, while giving the elderly a sense of independence. In talking to our customers, we have also heard of many stories where the addition of a granny flat simply made good financial sense. With rising property prices in the Newcastle area, it’s much more financially viable for families to live on the same property.
Affordability is also a key consideration. The average Newcastle Designer Granny Flat customer spends $130,000 to build a granny flat. With Newcastle’s property prices far more reasonable than those of close neighbour Sydney, a granny flat in your backyard stacks up as a solid investment providing many options for its owner.
If you are keen to know more about the benefits of building a Newcastle designer granny flat, don’t hesitate to get in touch with one of our experts.