A granny flat is an established secondary residence on a single resident property. This will allow separate living quarters for a family’s in-laws, nanny, or this space may be rented out for extra income. A granny flat is also commonly referred to as an “Mother In-Law Suite” or a “granny suite.”
This space will usually include a separate bathroom, bedroom, kitchen, and most granny flats will have their own entrance. A granny flat may be finished basement, or above the garage apartment, or a separate guest house that is detached from the actual house. There are a number of benefits to having a granny flat on your property.
Benefits Of Having A Granny Flat
Value of Property
One of the perks to having a granny flat is that it will bring up the value of your home. If you ever choose to sell your home, a built in granny flat in not a feature that will devalue the property as an in ground pool may. A granny flat would constitute as having a finished basement or built detached guesthouse, which is a feature most home buyers will admire.
Mother in-law suites are rising in popularity, so to buy a house with one already built will save a homeowner the hassle and expenses of building one in the future as well as provide many benefits that wouldn't otherwise be available. The obvious benefit would be to enable one to care for their again parent in the safety and comfort of home which can be great solution for the whole family.
Having a granny flat, especially one detached from the main house, can be rented out for a secondary source of income. Building a granny flat is a great investment for a homeowner planning to rent out the apartment. The rent money can help pay a majority of the homeowner’s monthly mortgage payments.
Having a granny flat will help with the stresses of caring for aging family members. Aging grandparents begin to not be able to care for themselves and their own homes. If the aging family member is in their own home they may forget to turn off the stove or fall, which can put them in a dire situation if no one is there to help them. Having a granny flat allows the family member to live close by so that you can keep a close eye on them and check on them on a regular basis. Since a granny flat will be like a small apartment for them, they will still feel like they have their own space and privacy at times but will have the comfort of knowing you are close by. There are a number Granny flat or mother in law suite floor plans available to help you find a layout that works for your home and situation.
Your parents or in-laws may not need special care but may choose to live close by to be close to you and their grandkids. Your parents may choose to live full time in the granny suite and help watch their grandkids when you are at work. This will be a great way to save money on day care and also have your children watched by people you full heartedly trust. If not grandparents, you may choose to employ a full time nanny who will live on the property. Having an granny flat will have your nanny close by but also will give her a sense of privacy and her own space.
Bed and Breakfast
If you are located in a top tourist destination whether in the mountains of Vermont or located on the beaches of Florida you can use your granny flat as a bed and breakfast. You will need to advertise and check with your local town laws before converting your flat into a bed and breakfast. You can make this a second business that can turn out to be an extremely lucrative opportunity.
If you are self employed or can telecommute from work, you may choose to convert your granny flat into a home office. If you choose to work from home, this will help give you a space to work and separate yourself from any home disturbances.
These are just a few advantages to having a granny flat or mother in law suite built on your property. Before choosing to build a granny flat on your property, first check your town’s laws and regulations before beginning construction.