Value added by Granny Flat Addition

My experience is based on Western Sydney and Central Coast. I am actually curious on what suburbs in SW Sydney can get that kind of rent too.

 

I use 2 bedroom units as a guide.

 

I am referring to Yagoona. Close to the train at least. Not seeing any newish granny flats for rent under $400.

 

Not quite a direct comparison but yes some overlap.
Some prefer a granny flat because it is like having a 'little house'. Provided it has privacy and separation. You can have a front yard and backyard and covered area.
No shared walls. And less overall tenants on the same block.

 

I see. I am surprised how expensive Yagoona properties are, something about 500sqm is selling at around 1.2M! With that kind of price a higher rent makes sense.

 

It is definitely not a direct comparison. Its a guide to gauge price as I mentioned.

New 2 Bedroom unit
90sqm
2 bathrooms
6sqm balcony
Common walls
Usually no pets
Undercover parking

New 2 Bedroom granny flat
60sqm
1 bathroom
24sqm alfresco dining area, which then opens to a private yard
No common walls.
Usually pets are considered
Off site parking

The one main thing I have learned is that you can have 90sqm 2 bedroom units that have alot of dead space and have rooms structured in a manner that are terrible for furniture placement.

I've found the granny flat (when well designed of course) achieve a rent slightly higher than brand new larger 2 bedroom units.

 

i think because of train and maybe proximity to Bankstown which is kind of the South West Chatswood in terms of a hub?

 

Hey Biz, I'd love to know which company you built them with & if you'd recommend using them? Thank you.

 

Biz has been MIA for several years. I don't think you'll get a reply.

 

Thanks for the heads up, that’s a shame. Hope she/he is out there enjoying the fruits of it all!