You might have known of these flats as apartments designed to host aging family members, providing them with a safe space near people they love. However, the usages of granny flats have long surpassed their initial purpose and today they ways in which you can monetize them are multiple. The house and granny flat builder often takes this aspect into account and designs your space in a way that can meet multiple needs. Your space might serve family, might serve strangers, it might even serve as storage space however, regardless of the ultimate purpose you decide for it, granny flat builders will help you achieve your goal.
What Is a Granny Flat? A Short History and Introduction
Also known as AUDs, accessory dwelling units, these self-contained apartments are small residential units that originated centuries ago. Historically speaking, these units were used to accommodate members of the immediate and extended family and their purpose remained the same with years to come. The actual term used today to refer to these apartments became popular during the 20th century, when the need for additional spaces became more prominent. In Sydney, these apartments became especially popular in the 2010s, when government regulations made it easier for people to install these additional spaces.
These units can be of multiple kinds:
- L shaped: this design helps separate spaces, creating distinct zones. The layout is known for its efficiency and the ability to accommodate multiple windows and allowing more natural light to enter the space
- U shaped: this design is more prominent in larger spaces, but it can be suitable for smaller spaces as well. With a general area dedicated towards communal spaces and two “arms” on the left and right side, this design is known for its separating characteristics.
Today’s trends reflect modernization and an increase in sustainability, especially in big cities such as Sydney. As mentioned in the introduction, these spaces were designed to accommodate aging parents and, while their purpose is still very much valid to this day, in this economy they quickly gained multiple usages. Granny flat builders began to take both the trends and the history into account when designing these unique spaces. With the right constructor, your space is sure to meet all the requirements you have for your AUD. Read along to find some of the ways you can turn them into a passive source of income.
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Storage
We all reach that point where the belongings in our house are so numerous that there’s almost no space left for us to live in it. Everybody accumulates clutter and most of the times you can’t just get rid of it. It might be furniture, it might be dowry, renovation supplies, things you can’t just throw away. The best course of action in that case would be for you to have a designated place to store your belongings. However, not everyone can afford the luxury or having an empty room in their house to use as storage. They might, however, have the money to rent such a space, for storage purposes. For some, that place is a granny flat.
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Long-Term and Short-Term Rental
Probably one of the most known additional usages of such a space is renting. That is because, in the hands of the right house and granny flat builder, your space can be one of a kind, an attracting, modern and beautiful space that you can easily monetize. Whether you go for a long-term rental, where you become a landlord and rent it to tenants for years at a time, or decide to go for a short-term approach, such as promoting it on AirBNB and other short-term rental services, this option is sure to provide you with an extra income that can become a passive income, if you go long-term. The best part is that, with this option, you’re not only making money, but when you decide to put an end to that income, you’re left with your property that you can either sell or move in or invest towards another monetizing option.
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Education Hub and Creative Studio
Analysing the needs of the market can open the doors to new opportunities. One such opportunity can come from renting you space to people who are in need of a space to practice their talent, be it of musical or visual nature. For that need, a creative studio is the answer. There are, however, people in search of places to rent in order to teach instruments, not only practice. For that matter, turning your space into an education hub, would be the best option.
Other creative usages: if you’re looking for more of a unique attribution for your space, you can turn it into a day care for pets, pop-up retail space or a therapy space.
Granny Flat Builders in Sydney
AUDs have become increasingly popular in the past years. Focusing on sustainability, modern solutions and accessibility, granny flat builders in Sydney have set the bar high in terms of functionality and design. Their attention to detail goes as far as creating beautiful interiors and exteriors that match typical designs found in other countries, such as Spain, Italy or Greece.
Conclusion on the House and Granny Flat Builder in Sydney
If you’ve never considered an addition to your space, this article might have opened your eyes in what regards some of the money-making opportunities brought forward by AUDs. Remember to communicate your primary needs with your house and granny flat builder in Sydney, he will be able to provide you with the apartment of your dreams and, regardless of whether you choose to rent it or keep it for family purposes, owning an additional space that can keep your loved ones close to you or provide passive income, will always be a great asset to your home.