Chances are the home you live in now was purchased when the Australian housing market was less inflated. If you bought your house twenty years ago, you could most likely enjoy a substantial profit in the present if you were to sell. But what if you wanted to relocate to a larger property with your family? In this case, you may face financial difficulties.
The Australian housing market has been on a steady rise since the last financial crisis, and today dwelling prices have reached record highs that are unrealistic for a good proportion of Australian households. Your children are grown up and need their own space? Or perhaps your parents reached the age where they can no longer fend for themselves, and you want to monitor their well-being. In that case, a good idea might be to seek the services of the best granny flat builders in Sydney.
But your possibilities continue beyond accessory dwelling units. Did you save a significant amount of money and want to relocate your family to a commuter-friendly area? Then economically, it is possible for a home built from scratch according to your specifications to be a more favourable financial investment. But you are a man who needs more information. So, in the following article, we will list why turning to home builders in Sydney can be a good idea, and we will present why ADUs can be an investment that can quickly bring you a measurable return.
Why Use the Services of Home Builders?
The professional services of home builders in Sydney could help you create a dwelling that will perfectly suit your family's needs. Calling on a professional company with experience in building homes from the ground up can be beneficial in creating a residence customised to your specifications. From the home's exterior appearance to the floor plan, the types of tiles used, the configuration of the rooms, and the general design elements that give the house its character, any aspect you can think of could be customised to your vision.
The average price of houses listed on the market in Sydney exceeds $1 million, while rent in many Australian cities is over $500 per week. Because of this, a more affordable option might be to hire an agency of home builders to construct from the ground up a house ideal for your needs. The development of a custom-designed house, depending on the layout and the materials used, could be even cheaper than buying one listed on the market, and its value can only increase as time goes by. A substantial investment in 2023 could translate into a considerable profit in ten years, which can be invested in maintaining your family's prosperity.
What If You’re Interested in ADUs?
Accessory dwelling units have, in recent years, become a popular option for Australian families looking for a steady extra income or for people who need extra space. Are your children now grown, and do you want to provide them with their own space until they have the financial resources to buy a home? Then turning to the best granny flat builders in your local area might be a good idea. Granny flats are self-contained living spaces that need to be located on your property. They can be joined to your primary residence or act as separate, fully-functional buildings that provide occupants with the necessary privacy.
Given that ADUs can be equipped in any way needed, turning to the best granny flat builders in Sydney could represent an opportunity through which you can achieve a significant ROI. Granny flats are cheap to build but can be rented for substantial amounts. Considering the housing market in many Australian cities is experiencing a significant shortage of dwelling units, ADUs are increasingly sought after, and you will probably have no problem finding a long-term tenant. In addition, ADUs are also perfect if you want to house an aging parent, the name granny flat coming from this use case.
Build More Space for Your Activities
The construction of granny flats is more straightforward than that of a fully-fledged house because the amount of materials is reduced. But the costs that will go into building an ADUs will be amortised by the additional value added to your property. Houses with a nearby ADU sell on the Australian market at a higher price than their non-ADU counterparts due to the profit prospects of such construction. Although they are an investment, an ADU could pay for itself in just a few years through rental income, and then, if you want to sell your home, the price of your property will be inflated by your newly built granny flat. It's a win-win situation, which is why ADU development is rising.
In addition, the built extra space could be used to increase the foot space of your primary residence. Have you always wished for an additional office or home gym? Then a granny flat could be the practical solution you need. Building granny flats is quicker than other types of construction, with no council approval required. And because of this, the whole process, from planning to finishing the building, can be completed in most cases in less than twelve weeks.
Find What Works for You
The services of the best granny flat builders in the greater Sydney region may be a breath of fresh air your wallet needs. Do you want to experience the convenience of extra space but don't have the financial means to move to another neighbourhood? In that case, an accessory dwelling unit could be the perfect solution for your new home. ADUs are ideal for getting the best bang for the buck from your initial investment, and with time, they can turn into real money-printing machines that can effectively cover their initial cost.
Moreover, an ADU can be a home for the loved ones in your life. Your parents reached an advanced age, and you want to keep them close to you? Then a granny flat could be an ideal compromise, giving them all the independence they need while keeping them nearby your property. An ADU can be one of the most financially inspiring investments you could make, and a dollar invested today with the help of a professional ADU builder could pay off tenfold in a few years.
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