Granny flats have become a popular option for homeowners looking for extra space or a source of income. But, before you jump into building one, it’s important to understand the cost involved. In this post, we’ll break down the various factors that determine the cost of a granny flat, including size, type, and additional expenses.
What is a Granny Flat?
A granny flat is a self-contained living space attached or separate from the main house. These flats are designed to provide additional space for family members or can be used as a source of income through renting.
What does it cost to build a granny flat?
The cost of building a granny flat varies depending on several factors, including the type of granny flat, size, and additional features. There are three main types of granny flats: custom built, kits, and flat packs.
Custom built granny flats tend to be the most expensive option, with prices starting at around $80,000 and going up to $150,000 or more. Kits, on the other hand, start at around $30,000 and can reach up to $80,000, depending on the size and features. Flat packs are the most affordable option, with prices starting at around $15,000 for a basic design.
Sizes and Price Ranges
The exact size of your granny flat plays a big role in the final cost of the project. Here are the average price ranges for various size granny flat builds:
- 1 bedroom granny flats start at around $80,000 and can go up to $120,000
- 2 bedroom granny flats start at around $100,000 and can go up to $150,000
- 3 bedroom granny flats start at around $150,000 and can go up to $200,000
- 2-storey granny flats start at around $200,000 and can go up to $300,000
Other costs to consider
It’s important to keep in mind that there are other costs involved in building a granny flat, including inclusions (such as plumbing, electrical, and kitchen fixtures) and exclusions (such as council approval fees and building permits).
Do I need council approval to build a granny flat?
Yes, you will need council approval to build a granny flat, as it’s considered a separate dwelling. The approval process can take several weeks and may require additional fees.
Will a granny flat increase the value of my home?
Having a granny flat can potentially increase the value of your home, as it provides an additional living space. However, this will depend on several factors, including the quality of the granny flat and the demand for rental properties in your area.
Conclusion
Granny flats can be a cost-effective solution for homeowners looking for extra space or a source of income. By understanding the various factors that determine the cost of building a granny flat, you can make an informed decision about whether this is the right option for you. With careful planning and consideration, a granny flat can provide you with additional living space and increase the value of your home.
