Granny Flats and the Cost Advantages
ats and the Cost Advantages
Granny Flats make a great extra area for relative units or a place for your teenager. The best thing is that it has several advantages over other buildings. One major reason why they are so popular is there low cost construction. But granny flats still can have great quality.
The cost of a granny flat stays low because of several reasons. The main reason for keeping the cost down is that they are constructed in a factory. A mass production of the frames saves a lot of expense on materials and labor. The frame and other components can be cut to size in the factory. The workers are all located in one location which will cut down on travel cost and workers will be able to help each other out when needed.
The possibilities of having theft at the building site would be highly reduced. So the replacement cost and time savings would be an advantage to keep the price low.
Granny flats can be constructed relatively fast, giving it an edge over other construction techniques. Granny flats usually have a simple construction keeping the cost down as well.
Delivery cost can be lower as well. Since the granny flats components are constructed off site all the components can be delivered at once. One trip of course is cheaper than multiple trips.
A few costs to keep in mind is the sub-contractors you may have to hire to put the kit granny flat together. Also, you may need to have someone to hook up the electric and plumbing. Some builders you will not have to worry about this.
Although you may have a few extra costs here and there you will probably find that this is a great way to get a granny flat. Next step is to find a builder to work with.
By: John Smith
About the Author:
Granny Flats make a great extra area for relative units or a place for your teenager. The best thing is that it has several advantages over other buildings. One major reason why they are so popular is there low cost construction. But granny flats still can have great quality.
The cost of a granny flat stays low because of several reasons. The main reason for keeping the cost down is that they are constructed in a factory. A mass production of the frames saves a lot of expense on materials and labor. The frame and other components can be cut to size in the factory. The workers are all located in one location which will cut down on travel cost and workers will be able to help each other out when needed.
The possibilities of having theft at the building site would be highly reduced. So the replacement cost and time savings would be an advantage to keep the price low.
Granny flats can be constructed relatively fast, giving it an edge over other construction techniques. Granny flats usually have a simple construction keeping the cost down as well.
Delivery cost can be lower as well. Since the granny flats components are constructed off site all the components can be delivered at once. One trip of course is cheaper than multiple trips.
A few costs to keep in mind is the sub-contractors you may have to hire to put the kit granny flat together. Also, you may need to have someone to hook up the electric and plumbing. Some builders you will not have to worry about this.
Although you may have a few extra costs here and there you will probably find that this is a great way to get a granny flat. Next step is to find a builder to work with.
By: John Smith
About the Author:
Low cost Granny Flats or
transportable homes sydney go here now http://www.cheapaffordablehousing.com.au
How to Make Properties Cash Flow Positive
With increase in interest rates and tightening credit from lenders, investors must start to look at how to make more money from their current investment properties. Optimizing the portfolio has never been more important than in the current economic climate.
Many investors will agree that cash flow is the secret to successful investing. Whether it is a property or business, the key to success is to have a strong grip on your cash flow situation. Interest rate increases, like the ones we have recently experienced, can significantly eat into the cash flow. Many people think that one needs to amass great sums of money to build wealth, but building a strong inflow of cash can also bring about financial freedom without having piles of cash.
The trick is not to focus on all the debt, but to build your strategies around cash flow. It is highly evident that many investors don’t know what to do in order to generate positive cash flow from an investment property. By asking yourself “How do I make money from an investment property I already own?” you will come to the conclusion that you need to generate more income or you need to reduce your expenses on that particular property.
How to Reduce Expenses on a Property
* Your biggest expense will be the monthly instalment that you have to pay the Bank. By extending the Bond over a longer period (like 30 years), you will reduce your monthly instalment. Don’t focus on the extra interest that you have to repay, it is the tenant that repay’s it for you.
* Negotiate a better interest rate with your bank. Normally when you extend the bond period to 30 years they are more than willing to drop the rate. In the process, negotiate a discount with the lawyer (up to 20% is normal, some investors get no less than 30%).
* Do your own management on your rental properties. It is a simple exercise of monitoring your bank account to see that the money has been deposited. Especially if you only starting out with a few properties. Once you have a strong, positive cash flow and enough properties, consider using an agent.
How to Increase Income on a Property
* The easiest is to have a rental escalation clause in your lease Contract. Normal escalations are 8 – 10% p.a.
* Consider converting a storeroom or double garage into a granny flat. Having more than one tenant on one property can generate substantial cash flow.
* Considering adding a granny flat if possible. It can be FAR cheaper than buying a new small flat.
* See if you can subdivide the land. Either to sell the divided part or to build a second unit on.
* Have you ever bothered to ask your tenant what he would like? A second carport or security gate can generate more income.
* Look at the security of the property. Can you add more security to increase the rent (e.g. burglar bars, alarms, etc)? If you don’t know, ask the tenant if such additions would add value.
* You can change the nature of the property? Rezone farming land for residential use or changing residential to business rights can be most rewarding.
* By adding additional businesses to you student housing like a Laundromat facility, games room with coin operated pool tables or put vending machines that sell sodas or sweets you can generate additional income. This will also make your property more appealing in comparison with the one next door.
* Convert a 4 bed 2 bath house into two 2 bed apartments. Not only will it generate more income but you reduce your risk as well.
By combining some of these ideas can easily make you property go positive. Also take note of what to look for when you buy your next property. The more space you have, the more options to consider. Each property has unique opportunities like extra space, additional buildings or it might be the ideal location. It is your job as an investor to identify the opportunities that others don’t see. Use your imagination to see with your mind and not only with your eye’s. In the mean time, with all the interest rate increases, exercise your imagination on your current property investments.
By: Karen Wheller
About the Author:
Many investors will agree that cash flow is the secret to successful investing. Whether it is a property or business, the key to success is to have a strong grip on your cash flow situation. Interest rate increases, like the ones we have recently experienced, can significantly eat into the cash flow. Many people think that one needs to amass great sums of money to build wealth, but building a strong inflow of cash can also bring about financial freedom without having piles of cash.
The trick is not to focus on all the debt, but to build your strategies around cash flow. It is highly evident that many investors don’t know what to do in order to generate positive cash flow from an investment property. By asking yourself “How do I make money from an investment property I already own?” you will come to the conclusion that you need to generate more income or you need to reduce your expenses on that particular property.
How to Reduce Expenses on a Property
* Your biggest expense will be the monthly instalment that you have to pay the Bank. By extending the Bond over a longer period (like 30 years), you will reduce your monthly instalment. Don’t focus on the extra interest that you have to repay, it is the tenant that repay’s it for you.
* Negotiate a better interest rate with your bank. Normally when you extend the bond period to 30 years they are more than willing to drop the rate. In the process, negotiate a discount with the lawyer (up to 20% is normal, some investors get no less than 30%).
* Do your own management on your rental properties. It is a simple exercise of monitoring your bank account to see that the money has been deposited. Especially if you only starting out with a few properties. Once you have a strong, positive cash flow and enough properties, consider using an agent.
How to Increase Income on a Property
* The easiest is to have a rental escalation clause in your lease Contract. Normal escalations are 8 – 10% p.a.
* Consider converting a storeroom or double garage into a granny flat. Having more than one tenant on one property can generate substantial cash flow.
* Considering adding a granny flat if possible. It can be FAR cheaper than buying a new small flat.
* See if you can subdivide the land. Either to sell the divided part or to build a second unit on.
* Have you ever bothered to ask your tenant what he would like? A second carport or security gate can generate more income.
* Look at the security of the property. Can you add more security to increase the rent (e.g. burglar bars, alarms, etc)? If you don’t know, ask the tenant if such additions would add value.
* You can change the nature of the property? Rezone farming land for residential use or changing residential to business rights can be most rewarding.
* By adding additional businesses to you student housing like a Laundromat facility, games room with coin operated pool tables or put vending machines that sell sodas or sweets you can generate additional income. This will also make your property more appealing in comparison with the one next door.
* Convert a 4 bed 2 bath house into two 2 bed apartments. Not only will it generate more income but you reduce your risk as well.
By combining some of these ideas can easily make you property go positive. Also take note of what to look for when you buy your next property. The more space you have, the more options to consider. Each property has unique opportunities like extra space, additional buildings or it might be the ideal location. It is your job as an investor to identify the opportunities that others don’t see. Use your imagination to see with your mind and not only with your eye’s. In the mean time, with all the interest rate increases, exercise your imagination on your current property investments.
By: Karen Wheller
About the Author:
As a property investor and real estate agent in South Africa, Karen Wheller is actively engaged in helping local and foreign investors find property investments and beginning investors climb the property investment ladder through education and sharing of knowledge. Karen Wheller is a co-founder of Property Axis and Property Investor Network.
Ten Bits of Great Granny’s Unbeatable Advice
Sometimes the old-time wisdom is the best. I have come up with a list of advice that has been passed down from generation to generation. Some of it is still applicable today and some is just fun to remember. I hope you will enjoy these bits of wisdom from the past. And who knows, you may find some real pearls of wisdom you can apply in your life today.
Have you run out of baking powder? Here’s how to make your own. Use two level teaspoon of cream of tartar to one teaspoon baking soda. This is the equivalent of four teaspoons of tartrate baking powder. This is the kind of baking powder normally found in the kitchen.
When your recipe calls for melted butter, be sure you melt the butter before measuring. If the recipe calls for butter, melted, measure the butter then melt it. It does make a difference, especially in baking.
When you take a cake from the oven, place it for a very few minutes on a cloth that has been dipped in and wrung out of cold water, This will allow your cake to turn out of the pan in perfect condition.
If your soft custard separates when you remove it from the heat, beat it hard for five minutes with an old-fashion egg beater.
When cooking pancakes, dip the spoon in milk or water and the batter will drop off the spoon easily.
Sewing tip: Tape a large flat magnet to your sewing table. As you remove pins, drop them onto the magnet. (Careful–do not get the magnet too close to the motor.)
To keep your ashtrays clean, wax the inside so the ashes won’t stick. Simply wipe ashtray with a clean tissue or papertowel. (I hope you don’t have ashtrays and smokers in your house–my husband has COPD caused from years of smoking. Believe me, it is not something you want to take a chance on.)
Varnished wallpaper that is grease splattered can be washed with a solution of one tablespoon of ammonia to a pailful of warm soapy water.
To freshen the color of your window blinds, brush with linseed oil.
When cleaning windows, add a little vinegar to the water. You will be surprised at the brillliant polish it produces.
Thanks Granny, for the advice!
By: Grandma Linda
About the Author:
Have you run out of baking powder? Here’s how to make your own. Use two level teaspoon of cream of tartar to one teaspoon baking soda. This is the equivalent of four teaspoons of tartrate baking powder. This is the kind of baking powder normally found in the kitchen.
When your recipe calls for melted butter, be sure you melt the butter before measuring. If the recipe calls for butter, melted, measure the butter then melt it. It does make a difference, especially in baking.
When you take a cake from the oven, place it for a very few minutes on a cloth that has been dipped in and wrung out of cold water, This will allow your cake to turn out of the pan in perfect condition.
If your soft custard separates when you remove it from the heat, beat it hard for five minutes with an old-fashion egg beater.
When cooking pancakes, dip the spoon in milk or water and the batter will drop off the spoon easily.
Sewing tip: Tape a large flat magnet to your sewing table. As you remove pins, drop them onto the magnet. (Careful–do not get the magnet too close to the motor.)
To keep your ashtrays clean, wax the inside so the ashes won’t stick. Simply wipe ashtray with a clean tissue or papertowel. (I hope you don’t have ashtrays and smokers in your house–my husband has COPD caused from years of smoking. Believe me, it is not something you want to take a chance on.)
Varnished wallpaper that is grease splattered can be washed with a solution of one tablespoon of ammonia to a pailful of warm soapy water.
To freshen the color of your window blinds, brush with linseed oil.
When cleaning windows, add a little vinegar to the water. You will be surprised at the brillliant polish it produces.
Thanks Granny, for the advice!
By: Grandma Linda
About the Author:
Grandma Linda seems to enjoy remembering the past, now that she is a senior citizen herself. For more of her writings and her collection of vintage recipes, please visit her blog at http://grandmasvintagerecipes.blogspot.com
The Advantages of Granny Flats
ever wondered exactly what “granny flats ” are? It\’s a small, private home that sits on the same property as a larger home. There are great benefits to renting or buying one. Is a granny flat right for you?
A granny flat is a dwelling unit that can be in the form of an upstairs apartment, a garage apartment, or a carriage house. This living unit, or small apartment, has its own entrance and they are growing in numbers and popularity.
The main advantage to having of these dwellings, from the homeowner\’s view point, is the potential for bringing in extra income from renting out the unit. Some homeowners view the additional space as a great way to create a living place for their teenage family members to hang out, or even for their elderly parents to live. The granny flat also makes a great guest house due do its privacy.
If you have aging parents, moving them into a granny flat on your property has great advantages. By having your parents living on your property, you will be able to check in with them on a regular basis to see how they are getting along. Since the granny flat living unit is a separate from the main home, your elderly parents will still have a place of their own with a kitchen, bath, living space, and bedroom.
Another great advantage of granny flats is that the energy bills will be substantially lower in this smaller living space. Many elderly couples find that they must move out from their large, spacious homes as they often find it difficult to maintain a big house and property.
Living in a granny flat can be the perfect answer for single people, young couples, or aging grandparents due to their features and pricing.
By: N Baulch
About the Author:
A granny flat is a dwelling unit that can be in the form of an upstairs apartment, a garage apartment, or a carriage house. This living unit, or small apartment, has its own entrance and they are growing in numbers and popularity.
The main advantage to having of these dwellings, from the homeowner\’s view point, is the potential for bringing in extra income from renting out the unit. Some homeowners view the additional space as a great way to create a living place for their teenage family members to hang out, or even for their elderly parents to live. The granny flat also makes a great guest house due do its privacy.
If you have aging parents, moving them into a granny flat on your property has great advantages. By having your parents living on your property, you will be able to check in with them on a regular basis to see how they are getting along. Since the granny flat living unit is a separate from the main home, your elderly parents will still have a place of their own with a kitchen, bath, living space, and bedroom.
Another great advantage of granny flats is that the energy bills will be substantially lower in this smaller living space. Many elderly couples find that they must move out from their large, spacious homes as they often find it difficult to maintain a big house and property.
Living in a granny flat can be the perfect answer for single people, young couples, or aging grandparents due to their features and pricing.
By: N Baulch
About the Author:
Here in Aus. and also Britain, the phrase granny flat is readily grasped but in the USA, the phrase mother-in-law house (accessory suite) is much more accepted.
However, the benefits of granny flats are several whereupon you require that additional accomodation suite. Follow the link to Neil Baulch’s content at Low cost granny flats for extra specifics.
Know the Difference between On-Site/Modular and Relocatable Homes
There are two basic categories: on-site built homes, which include houses, buildings, flats and apartment complexes, etc, and the other category is the manufactured house category, which includes modular homes, relocatable homes and mobile homes, like trailers. This article deals with difference between onsite homes, modular homes and relocatable homes so there is no confusion and you are better informed.
Modular Homes:
Modular homes are a part of manufactured housing. Modular homes are like manufactured homes, but there is a slight difference that sets them apart. Modular homes are also what you call factory homes as they are built piece by piece in a controlled environment in a factory and all the parts are then transferred to the site. Some features of a modular home:
• Modular homes are always built to comply with all the state, district and regional building codes. Even though they are built in a different state, they will be made in accordance with the final destination’s building compliances.
• Modular homes are made part by part in a factory set up.
• Modular homes are transported by a flat bed on a truck. The parts are then transferred to the site where they will be put together by the local contractors and are generally lifted by a crane and are placed on a masonry foundation.
• The modular home is always checked by the local building inspector, who clears it if all building codes are complied with and he thinks it has been built and put together correctly.
• Modular homes should have the capability to last as long as an on-site built house.
• Sometimes modular homes turn out to be less expensive per square foot than on-site built homes.
• Modular homes generally appreciate in value over time.
On-Site Homes:
On-site homes are those that are built on the build site from scratch with the help of professional builders and contractors. Some features:
• They are built on site with the help of contractors and builders.
• On-site homes are always built in accordance with all the state, district and regional building codes.
• A correctly and well built home only appreciates in value if it is taken care of well and also the location of the house plays a key role.
• On-site homes are also called “stick built” houses.
Relocatable Homes:
Relocatable homes are a part of the manufactured housing brand. They are also called factory built homes, like modular homes. Some key features:
• Manufactured house parts are built in a factory.
• They were earlier referred to as mobile homes or trailer homes, but that is not so today, as they are vastly differen.
• Relocatable homes comply with the Federal building codes, that is, the HUD (Housing and Urban Development) codes rather than the state, district or regional codes.
• Relocatable homes are built on non removable steel chassis and some are not placed on a permanent foundation, making their refinancing a little difficult.
• Parts are transported on their own wheels or axels.
• Relocatable homes generally depreciate in value.
• They are usually less expensive than modular and on-site homes.
• Building inspectors are not required to approve the building, but do approve the work done locally, like electricity or plumbing work.
After learning about relocatable homes, if you are interested in buying one, then you could consider contacting Tropical Cabins Pty Ltd. For more information, please click here: http://www.tropicalcabins.com.au
By: Ian Adams
About the Author:
Modular Homes:
Modular homes are a part of manufactured housing. Modular homes are like manufactured homes, but there is a slight difference that sets them apart. Modular homes are also what you call factory homes as they are built piece by piece in a controlled environment in a factory and all the parts are then transferred to the site. Some features of a modular home:
• Modular homes are always built to comply with all the state, district and regional building codes. Even though they are built in a different state, they will be made in accordance with the final destination’s building compliances.
• Modular homes are made part by part in a factory set up.
• Modular homes are transported by a flat bed on a truck. The parts are then transferred to the site where they will be put together by the local contractors and are generally lifted by a crane and are placed on a masonry foundation.
• The modular home is always checked by the local building inspector, who clears it if all building codes are complied with and he thinks it has been built and put together correctly.
• Modular homes should have the capability to last as long as an on-site built house.
• Sometimes modular homes turn out to be less expensive per square foot than on-site built homes.
• Modular homes generally appreciate in value over time.
On-Site Homes:
On-site homes are those that are built on the build site from scratch with the help of professional builders and contractors. Some features:
• They are built on site with the help of contractors and builders.
• On-site homes are always built in accordance with all the state, district and regional building codes.
• A correctly and well built home only appreciates in value if it is taken care of well and also the location of the house plays a key role.
• On-site homes are also called “stick built” houses.
Relocatable Homes:
Relocatable homes are a part of the manufactured housing brand. They are also called factory built homes, like modular homes. Some key features:
• Manufactured house parts are built in a factory.
• They were earlier referred to as mobile homes or trailer homes, but that is not so today, as they are vastly differen.
• Relocatable homes comply with the Federal building codes, that is, the HUD (Housing and Urban Development) codes rather than the state, district or regional codes.
• Relocatable homes are built on non removable steel chassis and some are not placed on a permanent foundation, making their refinancing a little difficult.
• Parts are transported on their own wheels or axels.
• Relocatable homes generally depreciate in value.
• They are usually less expensive than modular and on-site homes.
• Building inspectors are not required to approve the building, but do approve the work done locally, like electricity or plumbing work.
After learning about relocatable homes, if you are interested in buying one, then you could consider contacting Tropical Cabins Pty Ltd. For more information, please click here: http://www.tropicalcabins.com.au
By: Ian Adams
About the Author:
Ian Adams has been in the business of the building of relocatable homes and structures for a long time now. He loves his work and likes to educate more and more people about the same through his articles.
