Reasons You Should Consider Granny Flats

In addition to improving your home's landscape and maybe adding some more living space, there are a lot of other reasons why you should consider building granny flats. These secondary suites or accessory dwelling units are they are commonly referred to these days, not only serve the purpose of allowing your elderly relatives to live near you but not with you, they also serve to help them keep a semblance of their former independence.

Though they are aware of their limits as far as their health is concerned, something about granny flats keeps them from totally being deprived of their spirit and keeps them happy that they are still able to make some decisions on their own. As we get older, we are faced with the task of making difficult decisions, particularly about our living accommodations. Whether due to diminishing faculties or our partner passing away due to illness, we have to consider downsizing if we are to survive the remaining years of our lives.

Having your own home is a significant factor towards our overall well-being. Most senior citizens have difficulty holding on to their family homes because they either have to sell them due to rising medical bills or it's just time to consider something smaller so that they can move around easier. Some get to live with their families and then some head off to nursing homes, hospices and retirement villages. But then, there are those who value their independence and don't care to live in nursing facilities.

This is where granny flats come in. These secondary suites have grown in popularity mainly because they are less expensive than traditional homes and require less maintenance. They are usually built over the garage of your existing home or as a separate unit in your backyard, provided it meets zoning requirements and building codes. While it may present a lot of benefits and conveniences, it is an option that is not for everyone and something that requires careful thought and consideration before you push through with it.

For those who want to know what possible savings they can incur from considering granny flats, an option you can explore is setting up a granny flat interest. There are two ways to define what a granny flat interest is and the first has to do with selling your home, transferring ownership but still being able to live there for the rest of your life. Another option would be to exchange some or all of you own for a life interest in a private residence, such as the home of a family member without getting legal title to the residence. Basically, you establish a granny flat เช่าบ้าน ลาดพร้าว interest when you exchange money or assets for a right to live on someone else's property for as long as you live, but that interest will only be valid during your lifetime.

Of course, if you and your family agree to simply build a granny flat in your backyard, the good news is this can now be done without so many restrictions as before, provided you comply with the local environment plans and building codes. Whether this is something you build to keep your elderly relatives close or something you want to rent out, you stand to increase your home's resale value and if you're planning to rent it out, you can also decrease your loan repayments, as well as get more good yields and depreciation benefits.

The latter is fast becoming a popular option for homeowners, more so since affordable rental housing and planning incentives have been lined up by the government not only to address the housing shortage problem but also to encourage families to seek ways and means to augment their income. This flexibility has also been extended to applying loans and grants to build granny flats so you practically have no excuse to build one if you want it and when you want it. You only need to check with the Department of Planning on what you'll need to do to facilitate this as soon as possible.