Financial Benefits of Adding a Granny Flat to Your Existing Home

Adding a granny flat to your home is one of the most popular ways to increase the value of your property. However, even if you’re not planning to put your home on the market, you can still get additional income from renting the extra space.

In this article, we are going to examine the benefits of adding a granny flat to your home and also the steps to building it. According to most granny flat builders in San Diego, the first step to building a granny flat is picking the right building partner for your project.

As the foremost design build and remodel company in San Diego, House to Home offers incredible design build services tailored to your budget and style requirements.

Brief Overview of What a Granny Flat Is

A granny flat is a secondary or accessory dwelling unit built on the property of an existing home. These flats are usually smaller than the primary residence and could be used as a residence for aging parents, for rent, or as a home office.

They are called “granny flats” because they can function as ideal homes for retirees who want to live close to their children. It could also function as a workshop, storage away from the home, or living space for maturing teenagers looking for freedom and solitude.

While granny flats are usually small, that does not mean they are tight and shabby. Most granny flat builders in San Diego offer a design build concept that allows you to choose the flat’s design and layout, which will also help you better maximize the available space.

It is important to note that granny flats can either be attached to the main dwelling or detached from your house.

• Detached Granny Flats: These buildings are separate from the main dwelling but have similar structures. They have separate entrances from the main house and are often fenced, which gives a measure of privacy.
• Attached Granny Flats: These buildings are connected to the main building and styled to look like they have always been there. Depending on the design and your requirements, attached flats can be built for better socialization with residents. Also, they have entrances different from those in the main building.

Financial Benefits of Adding a Granny Flat to Your House

Building a granny flat on your property is a sound investment. Apart from increasing your property’s value, it also provides an opportunity to earn rental income, among others. The following are some of the benefits of granny flat construction:

1. Increase in Property Value

If you want to increase the value of your property, you usually have two options. One is to renovate or remodel your home. And the other option is to build an attached or detached building on your property.

While both are sound investments, building a granny flat could increase the value of your property by at least 25%-30%.

2. Rental Income Potential

Another benefit of adding a granny flat to your property is the potential to generate rental income. With the demand for affordable housing rising, your granny flat, with its smaller space and low maintenance costs, presents an opportunity for renters looking for affordable living spaces.

Renting your granny flat generates income that can go into other investments, help you cover other expenses like mortgages and property taxes, or even serve as additional financial security.

3. Cost-Effective Housing Solution

Granny flats can also be a cost-effective housing solution because they require low maintenance, fewer repairs, and fewer utilities compared to a full house. They can serve as a full-fledged home to parents, grandparents, or maturing teenagers, helping them save on renting houses or apartments far from their kids or parents.

4. Savings on Assisted Living Costs

Granny flats are alternative dwelling units for your old parents. They feature simple designs and rarely have strenuous layouts, making it easier for grandparents to navigate. Since it is also built on your property, it makes it easier for you to attend to their needs and ensure they are comfortable. This arrangement helps you save on getting them admitted to an assisted living facility.

5. Versatility and Future Flexibility

One of the most significant advantages of granny flats is their versatility and flexibility. While most people would prefer using them for rentals or housing elderly family members, these units can also be repurposed depending on your needs and lifestyle.

For instance, if you work at home, they can be easily converted into a home office designed to enhance productivity and keep work documents safe. They can also serve as a tool shed, workshop for your hobby, game room, and more.

Choosing the Right Granny Flat Builders

With so many granny flat builders in San Diego, how do you pick the right one? Well, here are some tips for choosing the right granny flat builder in San Diego:

1. Experience and Expertise

When choosing the right granny flat contractor for your project, experience and expertise should be at the top of your list. A contractor with solid experience will have a portfolio of completed projects that you can browse on their website.

They will know the construction process in and out and can also navigate potential issues that might arise during construction.

House to Home has over 25 years of building experience and is recognized as one of the best granny flat builders in San Diego.

2. Licensing and Insurance

A licensed builder gives you the peace of mind that your flat will be built according to the required standards and building regulations. It also gives a measure of security as you are confident of the safety of the construction.

Additionally, you should ensure they have sufficient insurance to cover liabilities, damages, or accidents that occur during construction.

3. Design and Customization Options

The best builders have several design and customization options to cater to the requirements of their clients. The designs should feature floor plans, concepts, layouts, and custom services. House to Home is a design build and remodel company that offers custom design options to homeowners.

4. Quality Materials and Workmanship

You need top-quality materials and workmanship when constructing a granny flat. Quality materials influence the quality of the building, while the workmanship reflects in the finishing of the project.

So, when picking the right builder, enquire about their supplies and workmanship. You can even visit past projects to inspect the quality of work firsthand.

5. Pricing and Transparency

Prioritize finding a builder that offers transparent pricing. A detailed quote tells you exactly what you’re paying for and helps you avoid double-charging and expensive details. The quote should include every aspect of the project, from designs to materials, permits, site inspections, and workmanship.

Also, don’t hesitate to ask the contractor to explain every quote in detail.

Steps to Build a Granny Flat

1. Choose a Granny Flat Design

The first step in building a granny flat is choosing the flat design. If you don’t already have a design in mind, your construction partner will provide several options that fit your space and concept. Some cities, such as Encinitas, even have ADU plans available at no cost.

2. Laying the Foundation

Once the land has been cleared and prepared for construction, the construction team will mark boundaries, carry out excavations to ensure the building’s safety, and then start laying the foundation.

3. Building the Frame

After laying the foundation, the team will start turning your concept into reality. They will begin by building the frame and working on the internal and external bearings to improve stability.

4. Adding the External Brickwork

Once the frame is ready, the external brickwork will be laid. This is the stage where the house gradually takes shape, with the roof added to complete the external work.

5. Setting Up the Interior

At this stage, internal walls will be added to improve the building’s stability, insulate the home during the winter, and keep it cool in the summer. Other internal fittings, like electrical connections and plumbing, will also be added.

The layout and floor plan will also gradually take shape with key facilities like the kitchen, bathroom, living room, and laundry room installed. Paintings and wall finishes will be added to complete internal construction.

6. Moving In

Your granny flat will be ready when it has passed inspection and has been certified safe by the construction team and building experts.

Conclusion

Granny flats are smaller and cheaper to maintain compared to full homes. However, when poorly built, granny flats can be more of a problem than they are worth, and this is why it is important that you hire the best granny flat builders in San Diego for your project.

If you want quality and long-lasting buildings, you should contact House to Homemodern builders now.