granny flat canberra

Discussion in 'Granny Flats' started by S1mon, 11th Jun, 2016.

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  1. S1mon

    S1mon Well-Known Member

    Joined:
    18th Jun, 2015
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    Location:
    canberra
    hai guys

    after about 7 months of air bnb, if i use the 7 month average over 12 months, gross yield is over 20% (on build + furnishing costs)

    bit of effort tho yes, i do all cleaning too....then minus tax and utilities etc
     
    S1mon, 20th Jun, 2017
    #21
    clink and geoffw like this.
  2. geoffw

    geoffw Moderator Staff Member

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    Location:
    Newcastle
    Very nice.

    What were the final build figures? Income? What would have been the normal rental income? How is Airbnb in the area where you've built? Can you say where the area is?

    Thank you!
     
    geoffw, 26th Jun, 2017
    #22
  3. S1mon

    S1mon Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    604
    Location:
    canberra
    145k all up as predicted. 136k to builder, the rest for DA etc etc. its averaging about $2800 a month. Though a lot of one nighters/cleaning fees there. i've been setting minimum stays/making it a bit cheaper etc more lately so getting longer stays / probably a slightly lower return going forward by choice. normal rental would be about 1300 a month I think. Its in evatt, so the 'burbs, but a lot of guests visiting family etc in the burbs so im guessing a very different client relative to say the city.

     
    S1mon, 26th Jun, 2017
    #23
    RetireRich101 and geoffw like this.
  4. Shane1

    Shane1 Well-Known Member

    Joined:
    27th Apr, 2017
    Posts:
    52
    Location:
    Canberra
    Mate, do you have much experience with converting a 50sqm garage to a secondary residence? I have a 930sqm RZ2 corner block.

    If possible, I'm thinking it may be more cost effective to do this than constructing a separate granny flat.

    I'm aware there's a number of requirements I have to meet such as 10a to 1a, separate carport etc so keen to see what's a good place to start.

    Thanks
     
    Shane1, 10th Jul, 2017
    #24
  5. Wanqi508

    Wanqi508 Member

    Joined:
    11th Jun, 2018
    Posts:
    8
    Location:
    Canberra
    Nice posting. I'm also planning to build a gf in my backyard, looking for an architect to design. Nathan Bear as mentioned above is certainly a candidate, do you have others to recommend ? I have limited budget, if I get a draftperson, would be a good idea ? I can concept design internal, but not sure the planing requirements like how big space I'm allowed to use to build, and space to the boundary boards. Ta
     
    Wanqi508, 19th Jun, 2018
    #25
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