Why Granny Flats is better than a nursing home

There comes a time in our lives when we have to think about things like retirement and savings. While old age holds us back, it shouldn’t stop us from continuing to enjoy our lives, long after we’ve hung up our work gloves. If anything, this should be a time when we begin to enjoy, 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 an older person has when deciding to move out of their family home, which may have grown too large or become a bit unmanageable. Granny flats, also known as “mother-in-law apartments”, “granny suites” or “accessory apartments” are fast becoming a more attractive prospect for seniors who prefer to spend their hard-earned money traveling abroad .

A granny flat is a separate dwelling unit built on properties that are normally single dwelling units and has its own entrance, living room, kitchen and bathroom. Typically built over a rear detached garage, above or below the main floor of a single-family home, attached to an on-grade single-family home, or detached from the main home, much like a guest house.

For seniors and their families who have found nursing homes too impersonal and expensive, for sons and daughters who really can’t stand mom living so far away, grandma’s flat is the best option. She will not only keep her family together, but her older relatives will also be able to enjoy a sense of privacy and independence they hate to lose. They also have the assurance that they have someone nearby they can turn to in case of emergencies, like driving to and from the doctor’s office for checkups or grocery shopping.

For elderly families, another reason granny flats are better than nursing homes is the fact that energy bills are considerably lower since they take up a smaller space. One of the main reasons seniors are forced to move out of their family homes is because they can no longer afford the bills that big houses generate.

Granny floors can also be built according to your personal preferences. With many home designs available ranging from single to five bedrooms, you’re sure to find a granny flat to suit you and your aging parents’ requirements. Going online will give you much of the information you need, as well as the laws and regulations related to building granny flats in your area. Please note that there may be some council areas that prohibit construction due to zoning laws, so again, the importance of doing your research is emphasized to avoid 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 well, you’ll not only be able to keep your elderly parents close, but you’ll also be able to manage your finances more effectively. Thanks to the SEPP (State Policy for Environmental Planning) you will be able to build flats on your property and rent them to obtain a higher yield and good depreciation benefits. They could also help you significantly if you are having problems with loan payments on your property.