When this client approached us he was worried – very worried and with due cause! He had a large post war house on a small narrow lot in Morningside which he had planned on renovating & extending. He’d had Architects plans drawn up and approved and, to his absolute horror, had received quotes to do the works of almost $550,000.
We suggested a different approach altogether and came up with the concept of demolishing the old home which was riddled with asbestos and to build a new home including a separate granny flat which all up including design, planning approvals, demolition & construction saved him $150,000 & will generate an income as well as the Granny flat will bring a healthy income.
Update: June 2014: Our client has taken possession
Read our study on Granny Flats – How do they rate as an investment and which Councils allow you to rent them out and which don’t