If the name fits! Granny flats in Perth are the perfect alternative housing solution for elderly family members.
Most people associate “granny flats” with elderly relatives living in small cottages in the backyard of their family home. Granny Flats are not only for Granny these days. This is especially true given the trend for young adults to live longer in their family homes due to the limitations of Australia’s booming real estate market.
However, granny flats in Perth can be a great alternative to residential aged care facilities, which can be unnecessary and costly. They are very affordable and offer a more flexible option for elderly loved ones.
We examine Granny Flats as an alternative housing option for older Australians.
Residential Aged Care Is Not for Everyone
These facilities are ideal for seniors who require assistance and care. Those without a family connection, can provide support and guidance. But, because of the expensive daily care fees as well as the required bond payments (which are determined by the income of the applicant), residential aged care facilities might not be the right choice for everyone.
If you have an elderly relative who is not ready to move into a residential care facility, it may be a good idea to create a space at your home with a granny apartment or granny extension. They suit people who:
May struggle with the maintenance of a larger property, such as the care and cleaning of the house and lawns.
Live far from their families and can’t travel long distances to see them.
Want to help their extended families by being active members of the family, such as by providing childcare.
The extended family can benefit from an elderly relative living in a granny apartment nearby. They create strong bonds among multiple generations and provide social benefits like the opportunity to visit family members every day. Many elderly care homes were shut down during the COVID-19 pandemic. It was done to lower the risk of transmission.
What About the Pension?
Cost is often a major concern when it comes to the construction of granny flats built at the family home. Families often ask us many questions, including how much it will cost and who will fund it.
Apart from the potential increase in the value of your family home, one of the many benefits is that an elderly relative may still be eligible for a part or all of their pension under certain measures set out in the Social Security Act 91.
The government has extended the gifting provisions under the Granny Flat Act. This allows elderly relatives who want to downsize to a granny apartment to contribute to the construction costs. As long as the granny flat is specifically for their usage and costs are reasonable, these provisions offer families the opportunity to help their loved ones find a suitable housing solution. They also provide stability and long-term support for the elderly.
While granny flat construction and arrangements should always be discussed with an accountant, financial planner, or financial advisor, it is reassuring to know that the Social Security Act offers some flexibility for families looking into this type of housing option.
Granny Flats are low-cost solutions.
Granny Flats are a great option, especially in Western Australia, because they can be more cost-effective than residential aged care facilities. The rising cost of care facilities is due to the increasing demand for these services. Due to the increasing aging population, there are more aged care facilities than ever before, with very limited bed vacancies. This can make it difficult for families to find suitable accommodation.
A granny flat can also increase the value of your home. Corelogic Australia says that a granny apartment can boost your home’s value by 30%.
You can also move your parents to your granny’s flat, which will provide additional income. You can move your parents to a new area or state and rent the property.
Granny flats can be customised to suit seniors, which is a plus. We can also build your home on a slab or with ramps if you have difficulty with stairs. We can build your home with a large entrance door or even double doors if you have a walking frame. This will allow you to move around freely.
You might also consider making it portable so that you can move the granny apartment from one area to the next when necessary.
Perth granny flats can be constructed with any features you desire, unlike serviced units or retirement villages. The owner can decide what fixtures and finishes you want, such as flooring and window furnishings. They don’t need approval from a corporate body.
Many retirees choose to build their granny flat on the same land as their main residence, so they don’t have to move around. Then they either rent the main dwelling out or let a friend or family member move in. This means they can stay in an area they love and feel comfortable.
Nothing Beats Togetherness!
The main selling point of the granny flat discussion is the fact that it will bring your family closer. The feeling of being together can provide peace of mind, as you can keep an eye on your family members and ensure that they are safe and happy. The opposite is true for aged care facilities. There’s often a “revolving door” of employees in these facilities. This is especially true in the current COVID-19 climate.
How Superior Choice Granny Flats Can Help
The Superior Choice Granny Flats team has over 20 years of experience in the outdoor lifestyle construction and building industry. Our granny flats are a great addition to any home thanks to our customer-centric approach and ability to work with clients. Our granny flats are built using beautiful designs that fit your home and needs.
No matter what your plans are, contact us today to talk to one of our friendly team members about your options.
Are you thinking about getting a granny flat in your investment property or your current residential home in Perth?
It is a great idea, and a no-stress way to generate a new income stream. After all, a granny flat is designed in such a way that it can be detached and attached wherever you want.
You can also make this area an additional room for guests; or a storeroom, a hobby room, a library, a study and more. Lately, we have had an increasing amount of enquiries on two bedroom granny flats, so we are discussing some of the advantages of a two-bedroom granny flat design.
More rooms means more rental yield
Perth’s rental market is at an all time high, there is no doubt about that. This is why more, and more West Aussies are considering a granny flat investment to maximise the demand for housing. With that being said, the co-living revolution is also taking over Perth. Now imagine getting two good tenants, rather than just one. Who could say no to an extra $400 a week in rent?
You can consider hosting homestays
Two bedroom granny flat designs are more suitable for providing bed and breakfast homestays for travellers than a one bedroom granny flat. By investing in this, you can consider putting your granny flat on Airbnb. This will get you an extra income more frequently than giving the monthly rents and you can provide homely stays for tourists.
You can help local elderly people, or your ageing parents
You may not have any elders in your house, but did you know that you could consider registering your two bedroom granny flat design with the nearest nursing home for elder care services? The regulatory bodies will make on-time payments, and provide all the assistance required to house older citizens. The income you earn, however, may not be as much as compared to long-term or short term rentals, but this is a great way to help your community.
If you have aged parents that cannot live on their own anymore for any reason like medical care, bed-ridden, or they live far away that it’s not easy to reach them in time of emergency, you can build a two bedroom granny flat that could be the perfect home away from home for them.
You can accommodate a growing family
As our kids grow up, they want their own bedrooms, and want some privacy. A two bedroom granny flat design is the best for homeowners that have kids entering their teenage years. Your child will have their own living space, under your watchful eye.
It is less expensive than renovating or building an extension
The most wonderful part of a two bedroom granny flat design is that they cost less than the actual house! You are investing in a private extension to your home, without the price tag that comes with a knock-down and renovate project.
Contact the best granny flat building company, and get the best ideas for a two bedroom granny flat design in Perth! We look forward to hearing from you soon regarding your new granny flat installation in Perth.