Many people today are looking for places they can call home, in quite a different manner than they’re used to. Property prices are increasing, so newly-weds and young professionals are finding it difficult to invest in a house. The solution they’ve found? Renting home extensions or flats offered by property owners. The space may be small, but it’s enough until they’ve saved enough to buy their own home.
If you have enough space on your yard, why not build an extension or flat to serve as an additional source of income. Here’s a guide to help you:
Create Your Design
This is among the most exciting parts of building an extension or flat, as you have the freedom to design whatever you want. If you’re not the creative type, however, narrow lot home builders in Brisbane and other parts of QLD can give you an idea for designing small spaces. Make sure that the designs you choose are best suitable for your location. Take note of the basic needs like water, light and electricity before getting on other detailed designs. Ask for a 3D design, if possible.
Find Your Builder
After deciding what design works or not, it’s time to find a local builder who can put your designs to life. Make sure that they have the experience and a good reputation among other clients. This is to make sure that you’re getting the most of your money. A good contractor knows how to work around your budget and is knowledgeable of the construction regulations in your area. Get a quote, if possible.
Once things start taking shape and the construction has gone past the initial phase, it’s time to begin promoting your flat or extension. Don’t wait for the construction to finish before you advertise because you might leave it unoccupied for months. Show the progress to grab the attention of potential tenants.
Building an extension or flat for additional income is becoming a trend in QLD and different parts of Australia. If you want to make the most of this, then start investing.