Granny Flats In Rural Areas- Good Investments?
Granny Flats In Rural Areas – A Rising Trend in Rural NSW
We have recently noticed a growing trend towards building Granny Flats in Rural Areas, so we thought we’d investigate their value for our investors. Below, we highlight some of the most important reasons our clients are saying why they chose to build in a country area.
1. Property Prices- The purchase price of a property in rural NSW is much cheaper in country areas and thus limits the risk and deposit needed for buying in major rural centers.
2. Jobs- Our investors are reporting that areas with strong mining and industry growth, couple with positive population growth as a major decider on just where they are choosing to build granny flats
3. Property Sizes- Country blocks do tend to be quite a lot larger than in Sydney, which allows for much easier siting and design of granny flats on these blocks.
3. Conversions – Quite a few clients are opting to convert an existing garage or shed on a rural property due to the larger sizes of rural blocks, and then providing alternate parking (if needed) elsewhere on the property.
4. Rental Demands- A lot of mining centers, such as The Hunter, NSW, Orange and Wagga Wagga are experiencing rental shortages, so granny flats are an excellent way to fill this demand and make the property positively-geared at the same time.
There are probably other reasons why Granny Flats in rural areas are becoming quite popular. if you know of any other reasons, feel free to post them below in the Comments Section.
Serge Panayi – Granny Flats Sydney (NSW) Pty Ltd