First home affordability is diminishing in the Sydney market place as home prices continue to rise. The deposit for a home in Sydney today is around $80,000 plus purchase costs for a $400,000 – $500,000 property.
Granny Flats Australia provides a solution where you can live in a brand new home for as little as $150 a week by building a Granny Flat on your parents property. Compare this to living in a brand new unit of similar size for $400,000. You’re left with around $350 per week in your pocket.
Alterntatively, if you have a deposit then you can buy the home that you eventually want to move into and still save tens of thousands of dollars over time by building a granny flat in the back and living in it while the front house is leased out. Eventually you could move into the front as your circumstances change and lease out the granny flat in the back yard.
“We couldn’t get a deposit together to buy a home, and renting was so expensive. We now live behind Simon’s parents in a two bedroom granny flat and we couldn’t be happier” – J Turner, Eastwood.