Hi,
So this is the second granny flat I finished on one of my properties.
Cost: $130k total (and I mean everything)
Rental: Aiming for $330/w this close to Christmas, I reckon in a better period, $340/w including water.
ROI: about 13%. Which is far less than my demountable granny flat at 22%.
http://somersoft.com/forums/showthread.php?t=100634&highlight=demountable
I used a builder for this to learn how to manager others as a tool to build interstate. Lots of lessons. Doing it myself I estimate it would have cost $90k-100k.
eg.
1. ensure plans and contract match, builder will use whichever clause benefits him and challenge the other;
2. expect variations of sorts, and i'll be sure to be more specific to the point of having the door knobs and doors specified;
3. expect the job to take longer than expected, builder was amazing then totally slacked off in the last 2 weeks dragging it on for 5 weeks;
4. be very specific in what each clause and deliverable in the contract means, builder and I have very different interpretations on what I thought was obvious.
Many more and i'll write them down as they come. Overall, great experience, great builder, though there were moments when I wanted to punch him in the face, mostly due to my own inexperience.
This one wasn't as interesting as the demountable which had drainage issues, negotiation on easement and structural concerns which needed to be resolved. Overall, pretty straight forward.
Granny flat #3 is starting in 2 months. Plans just given to council. Will keep you posted.
So this is the second granny flat I finished on one of my properties.
Cost: $130k total (and I mean everything)
Rental: Aiming for $330/w this close to Christmas, I reckon in a better period, $340/w including water.
ROI: about 13%. Which is far less than my demountable granny flat at 22%.
http://somersoft.com/forums/showthread.php?t=100634&highlight=demountable
I used a builder for this to learn how to manager others as a tool to build interstate. Lots of lessons. Doing it myself I estimate it would have cost $90k-100k.
eg.
1. ensure plans and contract match, builder will use whichever clause benefits him and challenge the other;
2. expect variations of sorts, and i'll be sure to be more specific to the point of having the door knobs and doors specified;
3. expect the job to take longer than expected, builder was amazing then totally slacked off in the last 2 weeks dragging it on for 5 weeks;
4. be very specific in what each clause and deliverable in the contract means, builder and I have very different interpretations on what I thought was obvious.
Many more and i'll write them down as they come. Overall, great experience, great builder, though there were moments when I wanted to punch him in the face, mostly due to my own inexperience.
This one wasn't as interesting as the demountable which had drainage issues, negotiation on easement and structural concerns which needed to be resolved. Overall, pretty straight forward.
Granny flat #3 is starting in 2 months. Plans just given to council. Will keep you posted.
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