LIKE AN EXTRA INCOME?

More and more New Zealand homeowners are realising the investment potential of their backyards (and other parts of their properties). 

A minor dwelling, granny flat or tiny house would not only generate valuable rent, but if done right, could improve the value of your property and even be self-funding.

WE CAN EVEN CONVERT YOUR GARAGE OR SHED

Sometimes the easiest and least expensive way to create a granny flat, tiny home, studio, office or workshop is to transform what's already there.

If you have an unused garage or shed, we would be happy to give you our honest evaluation of its suitability for conversion. If it's past its use-by date and would cost more to renovate than to knock down and rebuild, we'll tell you straight. But if there is value in restoring and transforming it, and it will meet council regulations, we'll let you know what needs to be done, including a fixed price for the work.

HOW A MINOR DWELLING COULD BE SELF-FUNDING

Let's do the maths.

Let's say the total cost of a new minor dwelling on your property is $150,000.  If you extend your mortgage to pay for it and your interest rate is 4.5%, that will cost you $6,750 per year (not including principle repayments). But if you can rent the minor dwelling out for, say, $300 per week, that's an income of $15,600. Right away, you're up $8,850.  

Then there's the extra value that the dwelling will add to your property, which can now be marketed as a home-and-income.

HOW TO GET STARTED

If your section is too small to meet the criteria for subdivision, you may still be able to build a minor dwelling, provided you comply with the regulations.

Local authorities are trying to promote better land use and help overcome New Zealand's housing shortage by encouraging secondary dwellings, but the consent process is still fairly complex.

For this reason, we would be happy to offer you a free In-home Consultation, during which our local Pzazz Building owner will give you an assessment of your property's suitability for development. Simply call us on 0508 792 992, email info@pzazz.co.nz or send the form below.