By increasing the amount of liveable space, adding a granny flat to your home is a sensible approach to raise the value of your home. Backyard Grannys is the business sector leader in the design and building design of contemporary granny flats, whether it’s a granny flat to shelter downsizing older family members, a guest residence for family and a separate teenager retreat, friends, the excellent home studio, office, or an additional source of income as a rental property. Granny Flat Solutions Australia says there are few things to know when building granny flats in NSW.
However, there are a few things to think about before your granny apartment dreams come true.
Before you begin the build, make sure you’ve checked all the boxes using the simple process.
- Space:- When Backyard Grannys receives a new inquiry, one of the first concerns they ask is, “Will a stylish granny flat fit in my yard?” To begin, your asset must be classified domestic and have a total area of approximately 450m2. There are a few more factors to consider and you can learn more about how to build a granny flat without council consent here. To be considered a compliant development, the granny flat must be at least 60m2.
- Your Budget:- Budgeting and financing are clearly important considerations when creating a granny flat, and we strongly suggest discussing with your bank or financial consultant before committing to a project. Granny flats are far cheaper than a large-scale property, costing between $120,000 and $130,000 on average.
- Site Requirement:- At the current dwelling’s construction line your land must have a 12m width. A minimum 3m setback from the back of the house and 0.9m from the side limits is required. Any existing trees over 6 meters in height must be kept at least 3 meters away from your granny flat. Accessibility to the site is also a factor to consider. Ideally, 1.2m to 1.5m clear accessibility will maintain prices low and while working with smaller spaces is not feasible, it will increase expenses owing to the human labor necessary.
- Approvals:- What permits are necessary and from whom is a vital topic. The NSW Government produced the Inexpensive Housing State Environment Planning Policy (SEPP) several decades later, which governs the building of secondary residences. The word “complying development” was stated previously, and it easily refers to all of the above-described minimal standards. A CDC for a granny apartment must also include the following:
- When a house is built in conjunction with another house, it is referred to as (the principal dwelling),
- On the same piece of property as the primary residence (rather than a separate lot in a strata plan or community title scheme), and
- It might be part of, attached to, or distinct from the main house.
A Complying Development Certificate (CDC) must be obtained from your council or a certified certifier. Visit the webpage to learn more about granny flats in an easy-to-understand area.
Conclusion:- Before you may claim depreciation on a granny flat, it must generate revenue as a supplementary residence. If that’s the situation, you can claim capital works depreciation. These factors include the structure’s wear and tear over its lifetime. Consult your accountant or a tax professional about the possibility of depreciation, as possessing a granny flat might increase your depreciation schedule, even if the primary residence is owner-occupied.