Secondary dwellings, often referred to as granny flats or tiny homes, have been growing in popularity over the years. These small, self-contained living spaces offer many advantages to homeowners.
The Victorian Government’s recent decision to remove the planning approval process for secondary dwellings smaller than 60 square meters, means it’s easier than ever for homeowners to enjoy the benefits of a second small home.
The large homesites at Yallarah, provide exciting opportunities for purchasers to explore various ways to utilise a secondary space. Continue reading for the top benefits of having a secondary dwelling on your property!
Second Income
A second small home provides a fantastic opportunity for homeowners to generate a second income stream. By renting out your secondary dwelling, whether it be through a long-term rental or an Airbnb setup, you could significantly offset your mortgage or even turn a profit*.
Intergenerational Living
Secondary dwellings are perfect for accommodating extended family members, such as aging parents or adult children. This setup provides a sense of togetherness while still maintaining privacy and independence. It’s ideal for those who wish to keep their loved ones close while ensuring everyone has their own space.
Home Office
With the rise of people working from home, a second small home is perfect for those seeking a professional and distraction-free home office. Improve your work-life balance by separating your work life from your personal life, while still enjoying all the benefits of working from home.
Accommodation for Guests
A secondary dwelling provides an impressive guest house solution. Whether you have friends or family visiting from out of town, having a second home on your property ensures that visitors can enjoy their stay with comfort and privacy.
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*The information contained in this blog is not intended as, and should not be understood or construed as, financial advice. We recommend that you talk to a finance professional before making any purchase decisions.
