Reduce Your Mortgage and Increase Your Income with a Granny Flat Investment
Updated: Oct 24, 2018
What is it?
A granny flat is an annexed unit that is constructed on a land owners property. This unit can be either attached or detached, built underneath or on top of the main house and can be rented out to generate a profit. Since customers do not have to buy any additional land, there is no extra rates to pay for, and no extra costs - such as stamp duty - to consider. On top of this, there are no headworks fees, no subdivision costs and in some cases, council approval is not even necessary!
All this means that a granny flat can be highly positively geared. So much in fact, that not only does it pay for itself, but it can pay off your existing home loan faster, or put extra cash in your back pocket, pushing once negatively geared properties into the positively geared territory.
What are the returns?
Returns may vary from project to project, however we always aim for at least $150 a week positively geared cashflow.
Some of our clients are making $700+ rent on a $360k outlay. We tailor the strategy for you, whether you are after straight cashflow or a nice suburban rental that just so happens to be positively geared.
We can achieve all of these with our granny flats built right here in Brisbane.
The investments described above are available in locations all through New South Wales and some local council areas in South Australia.
In Queensland, only one local council town planning authority has approved the use of granny flats for investment rentals.
The Logan City Council governs an area with one of the highest rates of property growth in Queensland, with suburbs such as Shailer Park, Daisy Hill, Slacks Creek, Loganholme, Woodridge and Waterford West all recording over 250% increases in house and unit prices.
Financing and Costs
Mark Wilson Design and Build can custom build your granny flat just how you like it. We are licensed builders who have built our own and are renting out one of these investments right now.
instead of costing you money, these granny flats more than pay for themselves
We are also working with leading mortgage brokers to ensure that you get the best possible loan for the flat - even refinancing your existing loan to get an even better interest rate and conditions. With no out of pocket cost. In fact, instead of costing you money, these granny flats more than pay for themselves. To the tune of over $100 a week.
Opportunities for Rentals
Logan City is a great location for families, young couples and students mainly due to its location. Centred between the lifestyle provisions of the Gold Coast and the Business District of Brisbane, Logan has easy access to three major highways, (Pacific, Logan and Gateway Motorways).
Logan also hosts many TAFE centers and a major university, as well as a large hospital currently undergoing further extensions.
A quick search for rental properties within the Logan area will expose the lack of supply for accommodation at less than $250 a week - much less accommodation of a high quality and luxury feel - something that many young adult tenants or adult students desire.
Build to Look Great & Last
At Mark Wilson Design and Build, we don't involve ourselves in kit homes or pre-made, pre-manufactured construction. With 30 years of experience under our belt, we build extensions renovations and granny flats to last.
Being custom built means that you can even have the granny flat match your existing home colours, cladding and feel. Not only this, but we can modify the plans as you wish or even attach the new granny flat to your home.
The deck and flooring are full hardwood, sanded and oiled or polished. Full bathrooms with feature tile strips and porcelain tiles provide a more luxurious feel than the standard kit-home bathrooms and pre-built flats. With a full kitchen, the flats look more like a mini-home than a 'granny flat'.
Contact us to get your free no-obligation quote!