Last Updated on March 31, 2024 by Ali Hamza
Why do you have to go through all the effort to create a new living space even if your home already has one? First of all there’s an serious lack for affordable houses across the United States. While it may not be a concern for homeowners like you it will still affect those in your immediate family. With costs of living increasing at the highest rate in the past 10 years it’s likely that you’ll be feeling the sting of the housing market in your pocket each month. A kit home or granny flat made by builders like Granny Flat Solutions is an investment, sure however, there are a few advantages for homeowners just like you.
Housing Senior Family Members Independently
Granny flats’ names come due to an of the well-known applications: self-contained housing for family members who are elderly.
Take a look at your loved ones who are elderly. You cherish them and be able to cope when you have to look after them. However, the reality is that care for elders is expensive. A nursing home is a hugely stressful experience for a lot of seniors. They’ve lived their whole lives living in independent granny flats and a lot of them are genuinely resentful of the idea of a nursing house where they’ll be treated just like children who are unable to make their own decisions.
If you have a loved one with dementia or cognitive issues the prospect of a nursing home could be more stressful as they don’t know what they’re in and no explanation will help.
Granny flats provide an empathetic and hands-on method of caring for your loved ones. Seniors who are unable to live on their own and still maintain an element of independence are able to stay close to their loved ones and continuing to lead their own lives. If your loved ones suffer from dementia and you want to monitor them , while also providing them with the security of a place for them to relax and create granny flats that will provide a safe environment
In-law breathing space
Are you one of the people who are anxious about the thought of the next visit from your in-laws? Are you among those who cherish your family members but would like a breather? Many families would like to be close however, not overly close.
Granny flats can be a lifesaver regardless of whether your in-laws are coming for a lengthy stay or simply staying overnight.
You’re both accustomed to following your own schedules and are aware of what you enjoy. Granny flats enable you to spend time together but still have the privacy to relax and relax (or simply get a good night’s sleep , if you follow separate sleeping schedules).
Affordable Living for Boomerang Kids
The other side that spectrum is your children and they can gain the protection that granny flats provide.
Young granny flats are that are subject to the ebbs and flow of an increasingly competitive job market could not be able to locate affordable housing and employment in the same location. Or, if you’ve got a boomerang kid (i.e. granny flats, lt kid who is just finishing college, is looking for work, or just starting out in their new life) could not be able recuperate their student debts and pay for housing based on the options they have at present.
For kids who are boomerangs (and their families) Granny flats offer the ideal solution. They can benefit from affordable housing while also getting ahead of their student debt as they search for jobs.
While they wait, parents can aid their children to get to the next level and maintain the family’s unity and still invest in the future of the family. It’s a way to help children out, without compromising their independence, as they’re not going back to the bedroom they grew up in.
In the event that you own granny apartments lt children who can perform useful work, but cannot remain on their own because of particular needs or chronic health conditions or developmental problems, granny flats are an excellent option. They are able to maintain a certain level of independence, but receive the help they require and provide caregivers and you privacy too.
Rent Income
Of course your family isn’t necessarily the ultimate source of granny flats. Did you remember the housing affordability problem we talked about earlier? This means that there is a demand for high-quality housing.
It’s not only about your personal life. There’s a large number of people searching for affordable housing without having to move back into the bedroom of their youth or driving from afar.
If you’re in need of a little more room within your budget Granny flats are a win-win property investments. Another person can afford rent while you enjoy an ongoing stream of passive income.
In the alternative, if you’re not interested in giving your home to a tenant for years or months at the same time, you could also lease it short-term through Airbnb, Homeaway, Vrbo or any other rental websites for vacations.
Make sure you go through the regulations for your area-Airbnb as well as other rental short-term rules vary depending on the location.
It is also possible to take rent in the form of informal payments by renting out your grandma flats to children or your elderly relatives (if your older relatives are not averse to living on your property to live there for free). Be sure to discuss expectations with them.
Read More: Top problems sellers face when selling their home
