One of the newest crazes to hit the home improvement market is the granny flat. These are described as self-contained living areas that are constructed on a property with an existing single-family home. Granny flats can be useful as a self-contained living area for an in-law or relative, such as an elderly parent who needs care but also desires independence. They can also be useful for renting out or for housing adult children or other people. If you’re still on the edge of whether or not you want to construct one of these places, here are some reasons that may just convince you to do so.
They’re Cheaper Than Nursing Homes
A great advantage of constructing a granny flat on your property is that it can allow you to offer a home to your parents when they can no longer manage living at home alone. With a small flat on your property, you can easily give them their own space that is close enough for you to check on them regularly. Compare a granny flat to paying for a traditional nursing home and you’ll instantly see the difference in price. Nursing homes run around $4,000 per month right now, while a granny flat will only cost the price of the extension plus utilities.
It Adds Value to Your Property
When it comes to enhancing the value of your home, there are multiple things you can do, from renovating your exterior to refurbishing your living areas. Many people add value by adding extra floors or rooms. One of the best home extensions you can add to your home is a granny flat. This extra independent living space can significantly enhance the value of your property as it’s a very in-demand amenity for homeowners. It’s flexibility and versatility allow for a range of uses, which makes it a valuable investment.
Have A Babysitter on Site
When your parents are living in your backyard, you can have access to a free babysitter around the clock. This helps tremendously when you have a last-minute change in plans or you simply want a couple of hours of alone time. The best part is that your parents can walk to your house to watch the kids so you don’t have to worry about your kids creating a mess in your parents’ home.
Having extra living space on your property can allow you the ability to receive rental income. If you don’t have someone living in the granny flat all the time, you can cash in on weekend rentals or just rent it out for special events. You may find that simply renting your granny flat out for a few weekends here and there can significantly help pay for your own mortgage.
Adding a granny flat to your home is such a good investment. The above are just four great benefits you’ll receive from doing so. If you are considering a home extension and want something versatile that will add value and appeal to your home, consider adding a granny flat. Whether you house relatives or renters or simply decide to sell, the granny flat will be sure to be a valuable investment.
Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan