Granny Flat: Here’s Why It’s a Worthy Investment

tiny house outdoors

If you have an elderly relative in your care, you may think that letting them live in a senior community will be better for them. And to some extent, you’re right. Senior communities are specially designed to provide the best care for seniors. But a big downside to this option is cost and distance.

The prices for assisted and independent living communities for seniors continue to rise. Current residents have a lot of expectations on amenities and other perks in these communities. And as a result, their prices skyrocket since they’re becoming more expensive to manage. The distance can also be a problem. You’ll be away from your relative, so it’ll be more difficult to monitor their situation.

One alternative that is worth considering is investing in a granny pod.

Tiny House Next to Your Main House

A granny pod is an accessory dwelling unit or ADU built within your property lot. It can be prefabricated or permanent. And it’s similar to a studio unit because it must have its own kitchen and bathroom. If the granny flat is big enough, it can also have a separate bedroom, but that will cost more.

Speaking of cost, building a residential unit beside your home can be expensive. Prices for granny pods often range from around 100,000 to 200,000 dollars. Not to mention, your utility bills will increase since the ADU will be connected to your main utility lines.

But there are many benefits to building a granny pod that may be enough for you to overlook these small drawbacks.

Keep Your Relative Close

Putting your retired relative in a nursing home or a senior community means being away from them. And no thanks to the COVID-19 pandemic, visiting them might be difficult. After all, some protocols need to be followed. And there are many causes of virus outbreaks in senior communities.

A granny pod can address these issues. With it, your relative can leave right next to your house. You can easily monitor their health and well-being. You can also spend more time with your aging relative, which is important in maintaining their overall well-being.

Give Them Privacy

Despite the proximity, the granny flat still maintains a certain boundary between you and your aging relative. The ADU gives them privacy and autonomy. And both are important in maintaining a person’s dignity at any age, especially at an older age.

Keep Your Relative Safe

It is generally safer to keep your aging relative near you. And since you’re technically the one who owns the granny pod, you can install any different modes of security to ensure the safety of your relative.

The granny flat can have its own security camera system and alarms. You can also use a smart doorbell. This device will give your relative an additional layer of security while they’re inside. And you can easily monitor the outside of their flat, too.

Save Money

As mentioned earlier, the upfront cost of building a granny pod can be overwhelming. But in the long-term, you can save more money by having one. For example, in Australia, the average basic fee for staying in an aged care home is $19,071.25 annually. And this fee doesn’t include other expenses, such as medication and transportation. Given this annual cost, you can save a lot by building a granny pod in your backyard in the long term.

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Earn Extra Income

Another monetary benefit of building a granny flat is extra income. Let’s say the elderly relative in your care prefers to stay in your house instead of living separately. You can instead turn your granny pod into a rental house. Doing so will help you not just earn extra income but also get back what you paid for constructing the pod.

Increase Home Value

When you put your house and lot for sale after a few years, you’ll find that your property’s value can potentially increase by up to 30% because of your ADU. Many homebuyers will be interested in your property because of the additional unit, which they can use as a granny flat or use for a different purpose instead.

Convert to Something Else

If you no longer need a granny flat, you can easily repurpose it to something else. For example, you can turn it into a gaming pod, a home gym, or a playroom for your kids. Or, if the work-from-home setup continues even after a pandemic, the granny flat can be converted into a small office.

A granny flat has many perks, from keeping your aging family close to you to monetary benefits. Despite its upfront cost, it’s definitely a worthy investment.

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