Grann Flats

[Swany]

Granny Flats

Hi everyone,

My girl owns a home on the North Shore of Sydney which needs a reno of between $30,000 - $40,000. It's a sought after location and with our labour I think it will be money well spent.

She rents a room for $160.00pw and has been doing so for a number of years, but is now thinking a self contained granny flat will give her more privacy and possible better market interest/sale price at a future date.(figures to be worked out)

I'm thinking the best approach in all this is to cost the the renos and the granny flat and do the house first.

Here's the wish list

Polish floor boards,interior paint through out,replace bedroom carpets, new light fittings,taps and reno one bathroom. Spruce up gardens. Quality flat pack kitchen and new appliances.

Budget in total will be about $60K and the house is worth about 1mill as is.

I'd be interested in some feed back on the reno as well as recommendations as to the best way to have plans drawn for the granny flat and tips for approaching council.

Thanks in advance guys and girls

Swany

 

[Rockstar]

Swany,

I have heard about new allowances coming in for nsw regarding the construction of Granny Flats. If councils are required to permit this without going down the Dual Occ/Strata title path then it will a fantastic opportunity for Investors and OO alike to efficiently increase the income from property. Have you checked with council about this?

Ian

 

[Swany]

Anyone else?

Hi Rockstar and thanks for the reply.

Will follow up with the council to see what the new measures are re granny flats.

Can anyone recommend someone to draw plans in the Lane Cove area?

Cheers Swany