Why Consider the Work of Granny Flat Builders?

 

Since you are reading this post, it’s quite safe to assume that you are a resident of Penrith, NSW, and you are currently looking for ways to expand on the usability of your existing lot, without letting the real estate market bleed you dry. Unfortunately, space constraints have transformed into a reality of our time.

Yes, Australian homes are, technically, the largest in the world when it comes to interior surface, but this doesn’t necessarily apply to centrally-located dwellings or to houses built in the last couple of years. The reality is that, like most Aussies living in Penrith, eventually, your property will become a bottleneck for your ambitions, and you will like to move into a place that’s bigger. But how?

Rent, right now, in Sydney, has managed to surpass a record median level of $800 per month. Now, I don’t know about you, but for this kind of money, I expect to live in a veritable mansion. Truth is, the market has become inaccessible for the vast majority of Aussie families, and the only way to expand on our existing space, cost-effectively, seems to be with the help of granny flats in Penrith.

Why Consider the Services of Granny Flat Builders?

Honestly, it’s quite self-explanatory. The popularity of ADUs has exploded in the last couple of years, especially in NSW. And there is a good reason for this. Imagine you invest something like $100,000 in a one-bedroom granny flat, and your main goal is to use this new construction as a secondary income producer. Realistically, if the median rent in the central areas of the city has now approached $800, it’s not unreasonable to think you can rent your new space out for something like $680 per week.

If you manage an occupancy rate of, let’s say, 92%, then at a quick glance, your annual rental income, not accounting for miscellaneous expenses or taxes, will come to around $32,500. So, at least in theory, you should recoup your initial investment in the granny flats in Penrith in around three years or so. That’s not bad. Granny flats are one of the safest investments available to Aussie families, as in most cases they are characterised by a positive ROI.

More Than a Secondary Income

ADUs are absolutely amazing as secondary income sources and are thought of as being a potential solution to the housing crisis plaguing the largest of Aussie cities, like Sydney, Perth or Melbourne. There is some truth to this, as ADUs are quick to build, they can increase house values by more than 10% to 15%, they are cheaper to build than the price of a new flat, and they are also practical constructions that can be successfully utilised for the expansion of your property’s usable space.

In fact, where do you think the name “granny flats” even comes from? ADUs are an efficient way to house your elderly parents, adult children, or relatives, while also providing them with the independence and privacy they deserve. Aged care, in Australia, is still much better than what’s applicable in other, neighbouring countries. But still, the basic daily care fee, applicable to elderly residents, is set at 85% of a standard full-aged pension, and so it sits at $66.80 per day. Not exactly what you can call cheap. Many families prefer instead to invest in ADUs and keep their elderly relatives close by, for as long as this is realistically possible.

Granny Flat Builders and Paperwork

In NSW, the paperwork required to access and utilise the services of granny flat builders must be looked at as a whole package, whose complexity will vary depending on the characteristics of your property, the land lot, or the ADU you are planning to build.

In Sydney, as long as the ADU complies with the SEPP 2021 standards; it’s built on a parcelled lot that’s greater than 450m² and has an internal surface area that’s not larger than 60m², you will likely qualify for a CDC, which can take anywhere from a couple of days to around two or three weeks to get approved. CDCs are the reason why the services of granny flat builders are so popular right now. But there are instances in which a CDC is not exactly an option.

CDC rules are quite strict and formula-based. ADU builders benefit from the expertise necessary to let you know whether you qualify for a CDC; they can prepare and submit your application, optimise the design of the construction for ROI purposes, handle pretty much anything, from the building process itself to the documentation submission, and their job will be to let your vision shine through and make the ADU financially feasible.

What About the Other Documentation?

CDCs and DAs are the most important documents that can be handled by granny flat builders. But they are not exactly the only ones. In order to begin the construction project, you will need to have a site and floor plan that demonstrates your ADUs’ compliance with the maximum size limit as specified in the SEPP. Likewise, you will need a site survey, a BASIX certificate, as it’s necessary in NSW, title documents, and maybe even a Statement of Environmental Effects, if you are going for a DA.

The documentation required for an ADU can vary from building to building and council to council. Typically, the path to begin construction is quite straightforward. After all, there is a reason why the services of granny flat builders are so popular right now. Other times, however, the documentation required is a bit more complex.

By utilising the expertise of a specialist in ADU constructions, you can get away from the hassle of handling all the paperwork yourself, and finding the exact documents necessary for your situation. ADU builders are just easier and more cost-efficient than doing all the work on your own. In fact, they can manage the granny flat construction from A to Z.