Granny flats are increasingly common in the UK.
They offer several unique advantages – and not just for grannies.
This blog explains what granny flats are, their features, average costs, and more.
What is a granny flat?
A granny flat (sometimes called a granny annexe) is a small building that adjoins or is near a larger property.
They are often created to increase the livable space in your property.
It’s ideal if you’ve got a family member staying with you for an extended period (hence their name). Or if you want a guest house for visitors.
Most granny flats are self-contained and include the following:
- A bathroom
- A living area
- Electricity
- Water
- Heating.
It’ll resemble a studio or one-bedroom flat.
How common are granny flats?
The Valuation Office Agency estimates around 60,000 granny flats in England and Wales combined.
These are particularly common in cultures where it’s typical for extended family members to live together.
Plus, a granny flat will increase the value of your house, so it’s a win-win.
Granny flats are frequently built as an extension. Other times, they are conversions of existing spaces.
Can I convert an existing space into a granny flat?
Yes, you can convert an existing structure or space within a structure into a granny flat.
You should check whether planning permission is needed for granny flat conversions.
This is more likely in protected areas where the council doesn’t want the outward appearance of properties to change.
Can I buy a granny flat ready-made?
Yes, it’s possible to buy a granny flat ready-made.
You can then pay professionals to visit your house and install it for you. This typically costs at least £30,000.
You can also order all the parts for a granny flat online, with it then being your responsibility to assemble it. This is less expensive, with a starting price of £10,000.
But this option will incur lots of extra costs on materials. As well as the time involved in assembling it.
Advantages of having a granny flat
Extra living space
Extra living space is always valuable. It helps home both short and long-term visitors. It also provides additional privacy for them and you.
Increase property value
A second benefit is that a granny flat will increase your property value. Some experts argue that this growth in value could be as high as 30%.
Of course, this added value is only worthwhile if it is higher than what you invested to achieve it. And if you can sell the property later on.
Grow your income
A third advantage is that your granny flat can be turned into a source of income.
You can do this by renting out the space. It could be for long-term tenants or during seasonal periods.
Disadvantages of having a granny flat
Up-front costs
Installing or building a granny flat can cost tens of thousands of pounds.
While you may get these benefits further down the line, you’ll need to take a financial hit in the short term. Your utility bills will increase, too.
Extra upkeep
Granny flats will also need maintenance. If you are renting it out, it will require more paperwork and landlord duties.
Impact on property appearance
Some granny annexes might negatively affect a property’s overall appearance.
This might be because they use different building materials or the structure blocks other parts of the property.
The new resident may have one or more vehicles, creating a cluttered appearance to the property.
How will a granny flat impact property value?
A granny flat will increase your house value if you do a good job when getting it installed.
Experts suggest that the growth in value can be up to 30% for the largest projects. Around 20% growth is typical.
Ask your installers for personalised guidance on how much value it could add. Get an independent property valuer’s opinion in advance, too.
Remember that some people may view your granny flat as a negative if it isn’t well-installed. So, you must do a great job.
Things to keep in mind when getting a granny flat
You should consider the long-term viability of the granny flat.
Just because you need it now, doesn’t mean you always will. Consider if there’s another less expensive solution to solving your problem.
Before you commission an extension, get a clear sense of how much it’ll cost and how much value it will add.
You need to watch your costs carefully. And choose an installer with excellent reviews. Don’t forget to factor in the ongoing increase in maintenance costs. This is for things like:
- Water
- Electricity
- Heating.
If you increase the amount of cleaning your professional cleaner does, then this may push your expenses up, too.
Focus on accessibility for your loved one staying there. Just because they’re mobile now, doesn’t mean they always will be.
And don’t forget to check whether planning permission is needed.
It can be tedious to arrange, but you could be forced to tear everything down if you don’t (costing you a fortune).