Homeowners across Brisbane are now finding better use for their backyards. They have tossed away the traditional practice of turning the garage or the backyard shed into living space and embraced the recent innovation of granny flats. Granny flats basically resemble miniature houses and are built on the same block of land as the main house. They are self contained with their own bathroom and kitchen. The past few years has seen a dramatic increase in the number of granny flats in the area. The number of granny flats Brisbane has today is incredibly high.
According to the BMT tax depreciation schedule, construction of granny flats in Brisbane has increased by 9.3% over the past two years in Australia. The question is, why have granny flats received such tremendous resurgence in interest? Here are the reasons for the sudden boom on granny flats Brisbane has experienced over the past few years.
Tax Depreciation Benefit
Did you know that you can accumulate tax depreciation deductions on your granny flat? Yes you can. Other than that, a granny flat with extra fittings such as a pool, entertainment area or BBQ will receive extra deductions. So, if you are looking for something that will trickle money into your pocket without much struggle, a granny flat can be a fantastic option.
Granny Flats Can be Rented Out
Do you live in a large block of land and would like to make some extra cash? Subdivide the property and build a granny flat on the unused piece of land and rent it out. Fortunately there are so many people searching for cheap granny flats in Brisbane, which means that your granny flat won’t lack a tenant at any given time. In this case you will be getting a double reward – the rent and the tax depreciation benefit.
Building a granny flat is a cheaper way of adding space into your home rather doing a renovation. If your family is expanding, the granny flat can be used by the teenage or adult kids. Once they are grown and move out, you can rent out the space and make some extra cash.
Work and Hobby Area
If you work from home, you want a quite place where you can be able to concentrate on your work. This is exactly what a granny flat will offer you. Your granny flat can be custom designed to look like any other office in the city. Besides that, many granny flats Brisbane has today have been converted to magnificent hobby areas. Some people have converted them into fun houses for kids while for others convert their granny flat into an art studio where they let out all their passions.
They Are a Great Retirement Option
Brisbane granny flats have found great use among retirees. Are your aging parents too old to live on their own? Taking them to an aged care home is a plausible option but not when you have the ability to take care of them yourself. You can take them in but make sure that their independence is maintained. A granny flat with a functional living area, bathroom and kitchen is the solution. They will certainly be glad to have their home close to loved ones.