澳洲Australia property Granny Flat options | Sydney


在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo


Hi guys.

I’m thinking medium to long term here in term of potentially adding a grant flat to a future property.

What are the rough cost estimates for putting in a granny flat (approvals, installation, water and electricity connection) and what options are there?

My thinking tells me that one could be build from scratch on the premises as well as bought ‘ready made’. Is there any difference in price?

Also, are banks willing to finance this sort of project?

Regards,
Robbie  

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You will hear figures from 60K-150K. I think it is about 100K for a decent granny flat - turn key.
I think banks are still a bit funny with granny flats. Brokers here may give you better answer. I believe they want the LVR (house + gf together) to be higher...  

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Also depends on finish quality and type (i.e. brick or weatherboard) and any extras like detached garage, verandah etc...

You can always negotiate prices lower so I would be looking under 75k for sure 60sqm 2 bdr brick.

Also some councils have Section 94 contributions of $0 and some have $10k - so all depends.

Also block size/shape and drainage placement may be uncommon so may cost extra for some blocks of land etc...

Look at Brazen's posts as he knows what he's talking about.  

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Granny Flat

Hiya

I am almost done with my 1 bedder granny flat in Sydney; build cost is 75K for BRICK (cheaper for weatherboard) and that includes GST (10%).. turnkey except for blinds, aircon and oven and light fittings.

Budget around another 10K for drawing costs, miscellaneous costs...(not including landscape costs)

A 2 bedder will cost another maybe 5K-8K extra estimated...

So far, i had a very pleasant experience with my Vietnamese builder...very patient and very calm...no nasty variations in cost too! he guided me each step of the way and i really learnt a lot from him...

He is only a small builder though and a one man show..

I will be using him again for my next one, a 2 bedder gf in Penrith...he is charging me 1200 per sqm all up this time....

So, if you are after a builder in Sydney and ask me nicely (via PM) i may just give you his contact BUT if you are a nasty and petty and demanding customer, please do not bother...i like my builder too much to see him taken advantage of:D  

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Thanks Virgo :)

Excuse my ignorance, but 'turn key' means ready to move in?

Lastly, how did you finance the $75k?  

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I'm pretty sure all banks do it, but CBA I know does this, the only way to put a granny flat on the land (if you were to borrow from the bank) is to sub-divide. Or drawing down on the property itself.

Which in this case your maths better be up to scratch because, if draw down to put a granny flat on the property and it doesnt pay itself back intime, you will be stuck with a granny flat, equity gone for the next property and you will be excited about 25% return but stuck with the one property.

Because to draw down 60-100k for the same property to get a better return I think could be more risk, maybe purchasing as much as you can and then seed out the properties to start one after another once you have built up enough equity across the board.

Also I ran into a problem with a granny flat that didn't work out so well, so just remember what people tell you about them and the greatness they provide can be slightly different, for example one of my tenants to the dwelling the husband was a mechanic and brought some of the cars home to repair, and the granny flat dweller was an accountant in the city, it also didn't help when the wife had the occasional tupperware parties also. This is a situation you have to becareful of.

This runs 'sort of' how much strategy works but I'm an investor and I own my own building company and building supplies and hardware.

Getting back to the granny flat.

Recent legislation tells us that the land has to be over 450sqm and can be 8.5metres high (thats not pitch), granny flat (doesnt have) size is 60sqm, it can be detached or attached to the dwelling and the approvals rate is 10 days also depending on your council and who ever takes a fuss behind your property.

http://www.planning.nsw.gov.au/?tabid=313
http://www.legislation.nsw.gov.au/maintop/view/inforce/epi+364+2009+cd+0+N

There are pre-fabricated GF's and some that are just waffle slab and timber and blue board. I think sometimes building it to your specification is sometimes better because you can have the GF appeal to your property, thats if your like me and likes to render everything (unless heritage or area appeal).

Hope it helps.  

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Gf

Hi Robbie

Yep, turn key means literally move in

Be careful about quotations from builders; i myself went through 5 quotations scrutinising and comparing with a fine comb:D then i change some inclusions so that all is clear right from the start.....

Some builders will add on extras as you go along; so far i have not had this with my builder....in fact because of the particular brick colour which was quite difficult to match, my builder had to pay double for the price and he absorbed that too (i feel kinda bad....even the bricklayers say that is one damn good brick or something to that effect:p)

(or maybe is because i am quite an easy going person too...all my tradies become like friends...i even attended a wedding anniversary of one two days ago...no idea why he invited me ha !:p)  

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virgo said: ↑
I am almost done with my 1 bedder granny flat in Sydney; build cost is 75K for BRICK (cheaper for weatherboard) and that includes GST (10%).. turnkey except for blinds, aircon and oven and light fittings.

Budget around another 10K for drawing costs, miscellaneous costs...(not including landscape costs)

A 2 bedder will cost another maybe 5K-8K extra estimated...Click to expand...
75 + 10 ( blinds, aircon and oven and light fittings) + 10 ( drawing costs, miscellaneous costs) + 5-10 (2 bedder) + 5 (landscape costs) ~ 100K
How about the separate gas & electricity?
How about the fencing?

Yes. 'turn key' is ready to move in.  

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Virgo,

So if I have it correct the second one he is charging you 72k (1200 X 60)?

So a 3k saving?

Why would you choose one bdr over 2bdr out of interest? I am sure 2bdr would attract more rent?  

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Finance

Hiya

Not sure of finance too much....all i know from speaking to my Westpac banker is they value it better if it is attached (ie to my own PPOR)...as they see it as an extension and adding more bedrooms...

For me personally, i am not after equity at this stage of my investing...it is cashflow i am chasing...

i did some back of envelope calculations: i will have net cash flows about 900-1000 after interest on each granny flat...

If i build 4, that will be about 4000 dollars per month.....hopefully that should go some way to persuading my hubby i am not "wasting" my time at home on Somersoft eh?:p  

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Also remember if the builder offers a turn key which is what devank said is good, thats everything finished, but its different from Lockup.

I think right now masterton homes off lockup at around 65k+/-.  

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Gf

devank said: ↑
75 + 10 ( blinds, aircon and oven and light fittings) + 10 ( drawing costs, miscellaneous costs) + 5-10 (2 bedder) + 5 (landscape costs) ~ 100K
How about the separate gas & electricity?
How about the fencing?

Yes. 'turn key' is ready to move in.Click to expand...
HI Devank

Separate gas and electricity came to about 1700 dollars...due to the particular slant of my property, fencing costs is minimal:p  

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Lupo said: ↑
...but CBA I know does this, the only way to put a granny flat on the land (if you were to borrow from the bank) is to sub-divide.Click to expand...
You cannot sub-divide off the granny flat according to the legislation as I read it.


Lupo said: ↑
....and the approvals rate is 10 days also depending on your council and who ever takes a fuss behind your property.Click to expand...
The 10 day approval process is via a Private Certifier. You don't go near the council's DA process which calls for objections from the neighbours.  

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virgo said: ↑
...i even attended a wedding anniversary of one two days ago...no idea why he invited me ha !:p)Click to expand...
Because you are too skinny Jen and you look like you need a feed :)  

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Granny Flat

JWR said: ↑
Virgo,

So if I have it correct the second one he is charging you 72k (1200 X 60)?

So a 3k saving?

Why would you choose one bdr over 2bdr out of interest? I am sure 2bdr would attract more rent?Click to expand...
Hiya James

I had to have an attached 1 bedder to my ppor initially as my block is more than 900 sqm (and thus need larger setbacks:eek:)

2nd granny flat would be cheaper too as it is a corner block plus i would use builder's pte certifier plus draftsman too...)

No, my 1 bedder would rent more than my 2 bedder simply because of the location:D plus my 1 bedder would have a lovely garden and small courtyard and generally more space all around!  

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Yep!

Propertunity said: ↑
Because you are too skinny Jen and you look like you need a feed :)Click to expand...
Ahhh....that figures Alan...by the same token, you would not be seeing much invitations coming your way then eh?:D

(Always nice to hear from you, sinseh!)  

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So what's the difference between 'lock up' and 'turn key'?

Also, is there a link to Masterdon Homes 65k lock up GF?

Looked on the website but can only find houses.

Anyone had experience with 2nd hand granny flats being transported?  

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virgo said: ↑
Ahhh....that figures Alan...by the same token, you would not be seeing much invitations coming your way then eh?:DClick to expand...
No. I am "looking very prosperous" as someone said to me the other day :)  

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Lock up

JWR said: ↑
So what's the difference between 'lock up' and 'turn key'?

Also, is there a link to Masterdon Homes 65k lock up GF?

Looked on the website but can only find houses.

Anyone had experience with 2nd hand granny flats being transported?Click to expand...
Hiya James

I think lockup is the roof is done and the exterior walls are up plus the windows and doors are up...so you can lock the house up...:)

BUT the internals like tiling, kitchen, painting are still not done ...

Happy to be corrected though?  

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Would depend on cost but I can paint so could save money there!  

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