Granny flats are not just a perfect solution to extend homes. They are also a solution to increase their property value. However, before you go for it, first understand the overall costs and additional charges.
The issue of cost overruns has become a common experience for most Australians. That’s why knowing what questions to ask granny flat builders will help you save time and money.
What’s the Estimated Cost for a Granny Flat?
Rental prices of granny flats can differ significantly based on several factors. These factors include the size of the granny flat and design.
For instance, the cost to build a one-bedroom flat can range from $100,000 to around $200,000. It’s possible to go higher than that. This depends on whether you’re after high-end designs or custom builds.
Ask These 6 Important Questions
Here are some of the questions that every homeowner should ask before hiring a builder:
What Does the Base Price Include?
Not all base prices are equal. Some builders may give a low quote. However, this may only include the walls, the floor and the roof.
So, ask your contractor if plumbing or electrical works are included in the quoted price. This will help you avoid getting a rude awakening later on.
Do You Take Care of Council Approvals?
At times, seeking council approval can be lengthy and cumbersome. Some builders will do this for you. However, others expect the homeowner to do it themselves.
This will affect your budget estimates in ways that are not so obvious at first glance. So, ensure that your builder educates you on what the process entails.
Plus, the expert should tell you whether the cost estimate covers site surveys and application costs. Being aware of this right from the start ensures that your project remains on course.
Are There Site-Specific Charges?
Granny flat costs don’t just involve the building. They also involve the location of the site.
Other considerations such as the removal of trees can influence the final cost, too. These are commonly referred to as ‘site-specific costs.’
Can You Break Down the Total Cost Estimate?
You deserve to know where your money is going, right? A transparent builder won’t just help pinpoint that particular detail.
The expert will also provide a breakdown of the estimated cost per stage. These includes foundation and finishing.
Here is what a detailed cost breakdown entails:
- Design and drafting fees
- Council approval and inspection costs
- Site preparation and foundation
What Is the Timeline & Payment Schedule?
They say ‘time is money’. Some granny flats can take as little as 12 weeks. But it may vary with the builder availability and project timeline.
A timeline is a practical tool for understanding the sequence of events. It contributes to time management and helps avoid postponements.
What Are the Optional Charges?
Upgrades and extras add value to property. However, they can also contribute to skyrocketing costs.
Other items, such as air conditioning, smart wiring, might not be part of the standard package. Therefore, find out if there are more services your builder can offer and at what fee.
The bottom line is that purchasing a granny flat is a major step. However, ensure you involve the right builder from the start.
Ask your builder important questions to avoid confusion. Remember that one good/bad communication at the beginning often results in zero good/bad communication later on.
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