Are you considering adding a granny flat to your property? A granny flat can be an excellent accommodation option for an elderly parent, for example. You can also use it to host your guests or grown-up children who aren’t quite ready to move out.
A granny flat is an easy source for some extra income if you decide to rent it out. So, how much would it cost you to build a granny flat in Sydney? We’ve explored the market rates below.
Granny Flat Prices in Sydney
There are numerous building styles for granny flats, and the building cost will vary considerably. You wouldn’t expect brick granny flat prices to be the same as another type of granny flat, for example.
Granny flat construction costs range from $50,000 to over $200,000 in Sydney, according to estimates provided by various builders and providers in the local market. The actual cost will depend on a variety of factors, including:
- the size of the granny flat
- the condition of the land
- the kinds of materials used
According to a 2015 report by BMT Tax Depreciation, a custom granny flat would set you back $121,000, to build, on average. You must realize there are various hidden costs that builders omit when it comes to calculating the cost of a granny flat in Sydney for you. It’s best to ask for the details upfront.
Among the most common hidden costs are electrical and plumbing essentials. It’s advisable to factor in at least $3,000 for such expenses. If you’re looking to rent the granny flat, you may want to also factor in privacy aspects, such as fencing off the structure.
If you find that granny flat prices Sydney are too high for you, there are several ways to bring the costs down. For example, you may opt to remove amenities such as a bathroom and kitchen to remain with a living room and sleep-only granny flat. It can reduce the construction cost by about $10,000.
Another excellent way to reduce granny flat building costs includes converting an existing garage or shed. You can also choose to do some of the construction work yourself, such as painting, building a deck, and landscaping.
Like any construction project, you’ll need to undergo an approval process before you can erect your new granny flat. Rules vary between local councils, as does the granny flat approval cost. Consult your local council to find out the rules of granny flats in your area, and how much you need to pay for approval to construct a granny flat on your property.
1-Bedroom Granny Flat Prices
A one-bedroom granny flat is an excellent way to utilize limited space on your property. It is ideal for extended family members, older children still living at home, or a guest house. Ranging from 40m2 to 60m2 for a standard one-bedroom, a self-contained granny flat would typically cost between $50,000 and $100,000 in Sydney.
The price includes the cost of standard fittings and professional construction from a reputable and licensed granny flat builder.
2-Bedroom Granny Flat Prices
Two-bedroom granny flats are a convenient space for grandparents to live and comfortable accommodation for guests while they’re visiting. If you want a custom-built two-bedroom granny flat, it’s best to obtain quotes from various granny flat providers.
Compare the quotes carefully. Some contractors include plumbing, electricity, and other additional costs in their figures; others do not. While two-bedroom granny flat prices differ from one builder to another, experts suggest setting aside about $200,000 for a unit that is spacious enough to accommodate at least four adults comfortably.
3-Bedroom Granny Flat Prices
If you have ample space on your property and a budget of at least $200,000, you can build an innovative three-bedroom granny flat that suits your needs and lifestyle. Three-bedroom granny flats provide the benefits of a standard home without breaking the bank. They are ideal for rentals, allowing privacy for the occupants and those inside the main house.
Find a Granny Flats Sydney Builder
The most reliable way to construct a granny flat is to find the right contractor for the job. You want to work with people who have the skills and the experience to construct granny flats to meet clients’ needs.
Granny Flat Builders Sydney specialize in designing and building one to three-bedroom granny flats. We’ve been in the business for over fifteen years, offering quality concept-to-completion granny flat building services. Our prices are competitive and vary depending on your needs, but you can be confident that what it represents a transparent process and a builder you can trust.
If you’re looking to build a granny flat on your property and aren’t sure about the costs, we can help. We are the best at making granny flat cost Sydney calculations, and we won’t let you down. Get in touch with our experts today.