There comes a time in our lives when we have to think about things like retirement and nest eggs. While being old slows us down, it shouldn't stop us from continuing to enjoy our lives, long after we've hung up our working gloves. If anything, this should be a time when we begin to enjoy ourselves, including the fruits of a lifetime of hard work.
Many of those approaching retirement age first consider a place to live. These days, nursing homes or special care homes are not the only alternatives a senior citizen has when they decide to move out of their family homes, which may have grown too big or proven to become a little unmanageable. Granny flats, also known as "mother-in-law-apartments," "granny suites" or "accessory apartments" are fast becoming a more appealing prospect for senior citizens who would rather use their hard-earned money traveling abroad.
A granny flat is a separate dwelling unit built on properties that are normally for one dwelling unit only and has its own entrance, living area, kitchen and bathroom. It is usually built over a rear detached garage, above or below the main floor of a single-detached dwelling, attached to a single-detached dwelling at grade or detached from the principal dwelling, very much like a guesthouse.
For senior citizens and their families who've found nursing homes too impersonal and expensive, for sons and daughters who've found they really can't bear to have Mom living so far away, the granny flat is the best option. Not only will it keep your family together, but your elderly relatives will also be able to enjoy a sense of privacy and independence that they are loath to lose. They, as well are assured that they have someone close by they can turn to for emergencies like driving to and from the doctor's office for check-ups or grocery shopping.
For the families of senior citizens, another reason why granny flats are better than nursing homes is the fact that energy bills are considerately lower since this occupies a smaller space. One of the main reasons senior citizens are forced to move out of their family homes is because they can no longer manage the bills that large houses incur.
Granny flats can also be built according to your personal preferences. With many home designs available ranging from single to five bedrooms, you will surely find a granny flat that will suit you and your elderly parents' requirements. Going online will yield a lot of the information you need, as well as the laws and regulations concerning the construction of granny flats in your area. Take note that there may be some council areas that prohibit construction due to zoning laws so again, the importance of doing research is being stressed to avoid any future complications.
But the biggest benefit of granny flats for most people is that it can also be a great investment. When you do your research and plan everything right, not only will you be able to have your elderly parents close, you will also be able to manage your finances more effectively. Thanks to the SEPP (State Environmental Planning Policy) you will be able to build granny flats on your property and rent it out for increased yield and good depreciation benefits. They could also help you significantly if you are struggling with loan repayments on your property.
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