THE GRANNY FLAT IS MAKING A COMBEBACK!
2nd September, 2009 - Posted by Building Works Aust - 2 Comments
Have you noticed things deemed “old fashion” are now again “fashionable”? Take the tasty prawn cocktail appearing back on many a restaurant menu, or home baking thanks to MasterChef, and now, finally, the humble granny flat resurgence thanks to the government’s “Affordable Rental Housing State Environmental Planning Policy” 2009 (SEPP).
Not only do we have an AGEING population, a GROWING population, but we also have a YOUNGER population who are also struggling to afford real estate or maintain Sydney real estate. Could the granny flat help ease our NSW housing crisis? From our experience and knowledge, absolutely! Although beware, there are hidden tax liabilities that you should be mindful of before your granny flat construction takes shape. And, of course, any construction you undertake must adhere to the Building Code of Australia.
At Building Works Australia we see this old fashioned now fashionable form of dwelling affordable and innovative. So, if this new policy has you thinking about shifting your adult child/children out of the house and into the backyard or bringing your elderly parents much closer for you to watch over, feel free to give us a call on 02 9488 9577 to discuss
Tags: build a granny flat, building, building eastern suburbs, building north shore, building northern beaches, Building Tips, Choosing a builder, extensions, granny flat, home additions, Licenced Builders, Professional Builders, renovations, Sydney Builders
Posted on: September 2, 2009
Filed under: Building Tips, Building a granny flat
2 Comments
Alice
September 26th, 2009 at 3:44 pm
To really make this work on the supply of affordable housing front, supporting building activity front etc. they should take the CGT sting out of its tail. Currently, apparently one cannot deduct mortagage interest for boarders, boarder income is treated as an offset to living expenses i.e. does not have to be declared, and there is no CGT due on the area used by the boarder. Perhaps the same could be done with principal residence independent living units (what about grandpa, gen Y, Z etc.).
GOODONYA…great step forward for converting all those mac mansions accomodating one or two people into dual occupancy units!!!
Building Works Aust
October 12th, 2011 at 3:30 pm
Hi Alice. Thanks so much for commenting on our granny flat story. That’s an interesting topic you have raised with regard to CGT and one we will look into further.
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