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What to consider before moving into a granny flat

1st March 2016 Living Well Magazine

Granny FlatEver considered moving back in with the kids? What about moving the kids out into their own tiny home? Maybe you want to subsisise your income and try AirBNB with a granny flat in your back yard. Before you do, read our interview with one of the money experts. We discuss with Peter Horsfield Senior Advisor at SMART advice his tips and traps, to ensure you maximise the returns on your investment.

 

If you and your family plan on building, then you’ll need to check out the state and local government planning laws before proceeding.

General regulations dictate there can be only one flat per house and the living space of the flat cannot exceed 60m2 in New South Wales, Victoria and Western Australia and 70m2 in Queensland, according to financial adviser Peter Horsfield.

There are also regulations regarding the height of the flat and its distance from the boundaries of the property, Horsfield says.

“These differ so much between councils that you should look into your local guidelines before making any decisions,” he says.

Read the full article: https://startsat60.com/stories/living/what-to-consider-before-moving-into-a-granny-flat

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