Benefits of a Granny Flat: Homeowners, Cities, and ...

Homeowners smart enough to build a granny flat on their property reap the financial benefits for decades — but they aren’t the only ones that stand to benefit.

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Granny flats have huge benefits for cities, homeowners, and renters. Let’s explore the benefits of building a granny flat.

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Benefits of Building a Granny Flat for the Homeowner:

Benefit #1: House an aging parent or family member

Building a granny flat is a great way to keep aging parents close, while still affording everyone the level of privacy and respect they want. Portland homeowners, Jill and Kevin, built a granny flat for Jill’s aging mother after she was confined to a wheel chair. She loves being close and they appreciate the extra baby sitter for their two young children. They’re all able to share meals together and it’s brought a lot of joy to their lives having everyone closer.

Benefit #2: Bring in consistent monthly income

Granny flats are a great real estate investment and can help families accrue wealth over time. You can look on Craigslist for what apartments in your neighborhood rent for to get an idea of what your monthly rental income might be.

Benefit #3: Downsize into the granny flat and live mortgage-free

Owning a house is the quintessential American Dream, but it often comes at the steep price of being chained to a mortgage. Feel like traveling more? Starting your own business? Having more financial freedom? Some couples explore downsizing options that include moving into their granny flat and renting out their main house. This often covers their full mortgage leaving them free to do more of what they love.

Benefit #4: Increase your property value

It’s no surprise that building a granny flat on your property increases your home value. It’s expected that a granny flat brings an ROI of approximately 70 percent. So, if you spend, $100,000 building your secondary unit, your house appraisal value would increase by $70,000. Now, because building a granny flat isn’t as common as say, renovating your kitchen, these numbers can vary from appraisal to appraisal. As more people built granny flats you can expect the ROI to stabilize and possibly increase. Granny flats are a long-term investment, not a get-rich-quick scheme.

Benefit #5: Stay in a great neighborhood, but increase space

Pam lives in a wonderful neighborhood, but her house is only 1,000 square feet. She’s owned the property for nearly 13 years and doesn’t want to move or incur a new higher property tax. Yet, she needs more space. A granny flat offered a great solution.

Benefit #6: a Home office that offers privacy to work

Many people work remotely or have their own business that they run out of their home. Building a granny flat can provide extra space and privacy to keep a healthy life-work balance. Lynn quit her job at the Los Angeles Times when her daughter was born. After her son arrived a few years later, she decided to establish her own freelance business. Working from home with two young children made it essential for Lynn to have a private space where she could conduct interviews.

Benefit #7: Friends and family can stay for extended visits comfortably

It’s nice to have friends or family be able to stay for longer than a 3-day weekend without everyone fighting for a bathroom. A granny flat provides a dedicated space so that family can stay comfortably for longer periods. For example, Chirranjeevi lives in San Diego, but his family still lives in India. He built a granny flat because his mom likes to come and stay for 2-month visits. It’s nice for everyone to be close and have their own space to retire to at night.

Benefit #8: Flexibility

People’s housing needs change over time and having a granny flat provides you the flexibility to use it however you wish.

Benefits of Building a Granny Flat for the City:

There are some huge economic incentives for relaxing granny flat regulations and some cities are finally taking note.

1. Provide more affordable housing options
2. Reduce urban sprawl
3. Develop green and environmentally friendly
4. Increase city revenue through property tax increases
5. Higher density near public transit
6. Increase housing stock without compromising neighborhood character
7. Increase revenue for local businesses
8. Makes neighborhoods more walkable
9. Stabilizes neighborhoods

Benefits of Building a Granny Flat For the Renters:

Lastly, renters also reap the positive impacts of granny flats. They include:

1. Provide affordable rental options
2. Give renters access to better neighborhoods that normally too expensive
3. Access to better schools and safer places to live
4. Privacy of your own space
5. No roommates

Plan, hire, and manage your ADU project with Maxable.

At Maxable, we believe that building an ADU should be fun and exciting. You shouldn’t have to be the one to deal with confusing obstacles like permitting snafus or ever-changing regulations. We’ll be by your side every step of the way and connect you to experienced designers and general contractors in your area to make sure your project goes as smoothly as possible.

Leave the headaches to us! Check your address and see what Maxable can do for your home during a free ADU Planning Call.

Have you been considering making an addition to your home? What about some form of an accessory dwelling unit, like a granny flat?

Granny flats are a great addition to any home that needs a little more space. They help you, they help your family, and they help your elderly loved ones.

Not ready to make the jump? Are you still unsure about whether or not a granny flat is the right choice for your home? We want to help you make that decision.

Keep reading to learn a few of the top reasons that you should build a granny flat on your property.

1. A Reduced Need for Costly Elderly Care

As our loved ones get older, they may begin to need extra care and assistance. Aging often results in a loss of strength and mobility and an overall decline in health.

This prompts many elderly people to choose to move into nursing homes or residential care.

While this may still become a necessity in the event of illness or the need for memory care, having your elderly loved one(s) on your property means that they may not need that kind of care for longer (if at all).

You and your family can provide some forms of assistance to your loved one, and you can invest in professional home care for things that you’re unable to do. You can monitor this home care to make sure that it’s suiting your loved one.

The cost of nursing homes can be exorbitant, sometimes ranging from $5,000 to $14,000 per month, so reducing those costs can really help you and your family out.

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2. No More Holiday Travel

Do you live far away from your elderly loved ones? Traveling can be hard, no matter who’s making the trip. Flights and long car rides are often challenging for elderly people, and if you have children they can be challenging for you as well.

Making the trip may not seem worthwhile, leaving you and your family member separated on holidays.

This won’t be the case if you have a granny flat. Your elderly loved ones never have to miss another Christmas, Hanukkah, Easter, or Mothers Day again.

3. Keep Your Loved Ones Safe

One of the benefits of nursing home care is safety. Our elderly loved ones are at greater risk of falls and unexpected health events than the rest of us, so this safety is important.

If your elderly loved one doesn’t live nearby it’s easy to get anxious about their wellbeing.

You can ensure their safety at home. Having a granny flat allows you to check in on your loved one as often as you’d like (within reason). This will help to quell your anxieties and allow you to catch any emergencies as soon as possible.

4. Children Can Always See Their Grandparents

Did you know that raising children around their grandparents has real scientific benefits?

Children benefit from the strong support system that comes from having a larger family unit. They also develop stronger senses of self and identity through intergenerational knowledge.

This living arrangement doesn’t just benefit the kids, though. Grandparents who live close to their grandchildren may live longer. They’re given a renewed sense of purpose (something that some elderly people struggle with) and they tend to lead more active lifestyles.

Bonus: with a granny flat you’ve got a built-in babysitter. Just try not to take advantage of it. Remember, this is their home too!

5. Keep a Comfortable Environment

While there are benefits to residential care homes, they won’t necessarily be comfortable.

Some of them are sterile and appear more like medical centers or blank apartments than homes. Even the nicer ones may have all of the luxuries of home but won’t have that “special touch” that a real home provides.

There’s something special about being near family that gives us comfort.

With a granny flat, you’re providing a real home to your elderly loved ones that they can decorate and use as they please. They’re not under the constant watchful eye of attendants.

Even if your loved one hasn’t opted for a nursing home, they may not be comfortable living alone. Loneliness in elderly people is a real problem, so they will feel more comfortable when surrounded by family.

6. Cater to Specific Needs

Does your elderly loved one have specific needs based on their limitations?

If your elderly loved one is limited by their hearing, eyesight, mobility, or anything else, you can get your auxiliary living space created just for them.

Those in wheelchairs can have ramps installed in their entrances and larger, more accessible, living spaces.

People who are hard of hearing may benefit from special flashing doorbells, and those with vision issues may benefit from more sensory objects and railings to help them get around the house.

You can include all of these things when you have your granny flat custom-built.

7. Just Enough Independence

Not all elderly people are comfortable with the idea of giving up their independence. Even if they need more help than they’d like to admit, the idea of living in a nursing home, or even in your home, can make them feel old.

A granny flat can help with that.

They get their own living space without taking up yours. They can cook their own meals, have friends over, and follow their own routines without enmeshing themselves with the rest of the family’s day-to-day life.

Your loved ones get the benefit of independence and the security of having loved ones nearby. It’s a win-win for everyone.

Build a Granny Flat Today

A granny flat makes a great addition to any home. Your elderly loved one will appreciate your efforts to improve their life, and you’ll have the peace of mind and comfort from having them nearby.

If you’re interested in adding a granny flat to your home, we want to help. We want to build you and your loved one the accessory dwelling unit of your dreams.

For more information, please visit Granny Flat Container.