Many investors are now buying small homes on large land with a classic granny flat in mind to double the earning capacity in rental return.
The minimum land size needed to build a granny flat can vary across local councils.
In other states, secondary dwellings can add to property values, with buyers attracted to the extra space for use as a home office or guest bedroom.
Whilst there are many cheap, all-inclusive granny flat kits on the market, they’re certainly not your only option.
Alternatively let mum or dad sell their home to fund a classic granny flat in your back yard so they can enjoy independence while gaining your assistance and support as age or health issues catch up with them as well as giving them additional funds to enjoy their retirement.
With the shortage of rental properties in Perth the value of your granny flat is likely to only appreciate the overall value of your property making it far more inviting to large families and investors alike.