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Raine & Horne had expressed its help within the growth of granny flats in an effort to handle the urgent housing disaster being felt in Australia.
“In a local weather the place Australia grapples with housing and rental shortages and actual property affordability, these modest dwellings generally is a viable and well timed resolution,” mentioned Angus Raine (pictured), the manager chairman of Raine & Horne.
Just lately, a number of properties throughout the nation have been discovered to be appropriate for the event of granny flats, with a report from CoreLogic stating that there have been round 655,000 potential granny flats websites all through Australia.
“There’s a slim window of alternative to find enduring solutions, significantly when we’ve a transparent resolution proper earlier than us within the type of granny flats,” mentioned Raine.
Raine mentioned that other than addressing the housing disaster, these granny flats can be worthwhile for householders.
“They’ll additionally function an additional supply of revenue for cash-strapped householders who’re wrestling with the a number of challenges posed by rising rates of interest and the cost-of-living disaster, pushed by escalating petrol and electrical energy costs,” mentioned Raine.
To be able to handle the monetary feasibility of the proposal, Raine instructed that subsidies could possibly be given to householders in an effort to entice them into including granny flats of their properties. Governments might make it in order that revenue from granny flats could be tax-exempt for 5 to 10 years.
Raine additionally burdened that there needs to be a streamlined bureaucratic processes and rules about what ought to represent a completely contained granny flat.
“In sure areas, there could also be restrictions on approving kitchens inside granny flats, forcing tenants to hunt various cooking preparations, thereby compromising these dwelling areas,” he sai.
Raine additionally instructed consulting with monetary specialists who’ve expertise with financing granny flats as they will help with the financing processes in keeping with a granny flat corresponding to refinancing a house mortgage, accessing financial savings, and utilising cash in mortgage offset accounts.
The manager chairman emphasised that because the housing disaster wanted to be urgently addressed, granny flats not solely supplied a possibility for investments but in addition a sensible and well timed resolution.
“By adopting prefabricated constructing options, it’s potential to considerably expedite the development technique of granny flats, probably lowering constructing instances considerably,” he mentioned.
What do you consider the event of granny flats as an answer to housing shortages? Tell us your ideas on the feedback down under.
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