The 10 Most Important Questions To Ask If You’re Considering A Granny Flat
They are the fundamental questions that every client asks. They are the questions you NEED to know before embarking on your own granny flat build. Here at Swift Granny Flats, our entire ethos is building granny flats, fast, affordable & easy. To make sure we are delivering on the “easy” promise, we have compiled a list of basic questions you may be thinking but don’t know the answer to.
Without delay, here they are!
1. How much will the granny flat cost to build?
As we mentioned previously, building “affordable” granny flats is what we do! This doesn’t mean we skimp on quality, we have streamlined the entire process and cut our overhead expenses to pass on the price cut. Our most basic granny flats start at $110,000. This includes GST. All our contracts are fixed price contracts, so you won’t get any nasty surprises either.
2. How does the process work?
Three simple steps are all it takes to turn the key and walk into your new granny flat! It’s as simple as that!
Step 1: Site Check – In one easy phone call, our staff will check your site suitability for your selected design & organise a FREE quote.
Step 2: Contract signing – We will provide you with a standard Master Builders BC4 Contract. This is an industry standard and fixed price contract that will have all the details and terms of your build.
Step 3: We will approve & build your granny flat. Once you sign your contract, the rest is up to us to seek council approval an of course build your granny flat.
3. How long will the granny flat take to build?
We will get Council approval and build your granny flat in just 20 weeks.
4. How do I get council approvals for my granny flat?
We take care of getting your granny flat approved! The Australian Government are supporting the granny flat industry and back in 2009 introduced the Affordable Rental Housing SEPP. This allowed granny flats to go through a CDC approval. This basically means, we can go through a Private Certifier to get approval. No DA is required. If your block & building proposal fulfills the CDC requirements, you will obtain Approval and we can start building. In some cases, we can obtain approval in just 14 days!
5. How much rent can I expect to receive once it is complete?
It is not uncommon to earn $450 a week when renting out your granny flat. Rent will of course fluctuate depending on design & location, but we generally see between $240 – $350 per week.
6. What is equity?
Equity is the difference between what your home is worth and how much you owe against it. If your property is worth $600,000 and owing $250,000, your available equity is $350,000 (ie $600,000 – $250,000)
7. How can I use equity to build my granny flat?
You can leverage off your equity to fund your granny flat by obtaining a loan which can be used towards costs. The bank will allow you to borrow against y our available equity which will grant you the funds to build your granny flat.
This might sound a bit confusing, the good news is that we have an in house finance consultant who specialises in granny flats. So they can take you through your best options step by step. Easy!
8. How big does my block have to be to build a granny flat?
Your block needs to be 450sqm and zoned ‘Residential’.
9. How big can the granny flat be?
The maximum size granny flat is 60sqm. You can also have additional features like garages, carports, alfresco areas and decks. These are not included in the 60sqm limit.
10. Does a Site Visit & Quote cost anything?No! Give us a call today and we will organise one of our team members to visit you on site and go through the Swift Granny Flat process FREE of Charge. It’s as simple as that!
Still have more questions? No problem, fill in the form below with your questions and we will have them answered within 24 hours!