What is a granny flat?

To put it in simple words, a granny flat or an in-law suite is an extra living space or separate unit from the main house. It could refer to anything from a converted basement or garage or a smaller house on the grounds set apart from the main one. Granny flats are great for renting. They are also ideal for housing older people who want to stay near their loved ones but independently. From loans for granny flats to fixing a budget, here are a few things one should know before building a flat. Get detailed information about the best practices to make better financial decisions, on this website: http://www.help-investor.com

A granny flat is similar to any house, but it is usually smaller with fewer rooms and a simple design. Most of them have a bedroom, bathroom, kitchen and a living room. Usually, granny flats have no upper floors for older people to navigate without complications and prevent accidents.

• Create a budget

Before building a flat, create a budget. One should always have a budget for the amount of money one is willing to spend on a project. Try not to exceed the amount. Make sure to factor in maintenance costs. Check to see if loans for granny flats are available. If possible, avail of loans. That could help ease financial tensions. Look into construction loans and home equity loans to see if they help. Make sure to budget and plan finances carefully before starting the project.

• Check the layout

If the plan is to build the flat in the backyard, check to see if the yard is suitable. Keep in mind the shape and size of the yard while designing the house. Make sure there is enough space in the yard to build a house with all the necessary amenities. Clear away all junk and unnecessary things crowding the place. Make sure no crucial pipes or sewage drains get destroyed in the process of building. Any damage might lead to problems in the future. So, it is better to make sure everything is right in the beginning.

• Utilize space properly

Granny flats are small in size and take up less space. So it is necessary to plan and utilize space cleverly inside the house to make it comfortable. Consult with the builder and the architect on the most effective ways to use available space. An open kitchen connected to the living room makes the room more spacious. Furnish the house with multifunctional furniture to avoid unnecessary items. Build closets and drawers in the walls wherever possible to avoid buying extra closets and cabinets. Doing this will help the house have a clean look without clutter and mess.

• Make sure it meets all approvals.

Just like when building any other house, granny flats also require all conditions to be met. One must always make sure that the house is built abiding by all the rules and laws of the place. Take into mind potential fire hazards. Make sure stormwater drainages and sewer systems are all planned and executed perfectly.

There are a lot of benefits to having a granny flat in the yard. Having one has the potential to increase the value of a property. These flats also act as a source of income through rent if it is leased out to tenants. Aside from these benefits, having a granny flat is helpful when hosting family members who need a place to stay. So, keep in mind all these things while building one and have fun with the project!