“Less grannies and more Granny Flats in Central Coast” – Rescon Builders INFO Night.
If you missed out on our Granny Flat Seminar last month, please don’t worry. Especially for you, we’ve created this blog to keep you updated with all the latest news regarding investing in Granny Flats in New South Wales.
As mentioned above last month Rescon Builders and Ray White in Bateau Bay organised an event to keep local homeowners informed about the great potential of a granny flat investment.
Since getting approval for building a secondary dwelling has become a lot easier, many people in New South Wales want to know if a granny flat is also a perfect option for their situation.
To answer even the most complexed clients’ questions, we decided to invite a team of specialists to share all the knowledge that is involved in investing in a granny flat.
The Seminar was split into 3 parts that are crucial for anyone interested in building a granny flat or a studio.
- Property Management (Ray White)
- Finance (Loan Market)
- Approvals and Construction (Rescon Builders)
There are many reasons why people invest in granny flats these days and additional income is probably one of the most significant ones. That’s why the INFO night was opened by Matt Gleeson – a property manager from Ray White in Bateau Bay who pointed out all the benefits of having an investment property. He also pointed out all the necessary extras, that are worth considering if you are interested in finding quality tenants for your granny flat.
- Interior Design
- Dishwasher and other quality inclusions that come as standard with Rescon Builders project packages
Furthermore, Matt spoke about the great opportunity of increasing your property’s rental yield as well as all the tax benefits you become eligible for when building a granny flat.
Most of us wouldn’t be able to have our secondary property built without getting a mortgage. That’s why for our INFO night we invited Daryl Wright – a mortgage broker from Loan Market to avoid all the difficulties associated with finances.
Before you make any decision regarding building and investment property make sure you speak to your accountant or property broker to find the best solution for your financial situation.
The rest of the night was dedicated the process of building a granny flat by Rescon Builders. Our CEO Timothy Cocaro explained the changes of NSW government policies that made investing in this type of property a lot easier over the last couple of years.
You can apply for a granny flat approval if:
- Your block size is 450 sqm+
- Rear setback is at least 3m and side setback 900 mm
- The secondary property won’t be more than 60 sqm
- The property is within residential zoning
If you think that building a granny flat is expensive and time-consuming, then look at the average project summary Rescon Builders presented for their potential clients in Sydney and Central Coast.
- Getting an approval: 8-10 weeks
- Construction: 15-17 weeks
- Total cost: $104,000-$120,000
Granny flats are ugly and boring?
Please check out our latest ranges available for every budget and see that living in a granny flat can be stylish and comfortable.
If you need more information regarding our projects, visit our website or give us a call on 1300 110 046
Alternatively, follow our blog to find more info about or recent offers or meet us in one of our DISPLAY UNITS every day from 10 am until 3 pm.