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  1. H

    Granny Flats - worth the cost ?

    If I go ahead it will basically be a rebuild - only showing garage conversion because I thought it may be easier to get it through council. Bought at Albion Park because I thought the particular property was reasonable value for money and had rear street access. When I was looking I didn't...
  2. H

    Granny Flats - worth the cost ?

    Haven't got any costing on the conversion yet but my guess would be $50 to $60K. If there wasn't a reasonable capital gain then it may not be a good short term (say 5 yrs) proposition. However, I'm hoping that just by showing that a granny flat is feasible for this property would add some...
  3. H

    Granny Flats - worth the cost ?

    Do you have samples to share? Not sure how well this will come out but see attached.............
  4. H

    Granny Flats - worth the cost ?

    Thanks for responses why not order an upfront val 'to be erected' - not familiar with the 'to be erected' val - is this something you arrange through a local estate agent or something more formal that you pay someone to do ? An average rule of thumb is that the higher the median price of...
  5. H

    Granny Flats - worth the cost ?

    Suburb is Albion Park (South of Wollongong) and it would be a granny flat at the rear of the property. The back yard has access to a street at the rear of the property and it would be possible to fence off a portion of the yard so the GF has a small yard space of its own. Overall land size is...
  6. H

    Granny Flats - worth the cost ?

    There's no doubt that adding a granny flat to an IP will significantly increase the rental return (small decrease in house rental but well and truly offset by additional rental from granny flat). However, what about the overall value of the property - does it increase by the cost of the...
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