Hi again! Im the one who is 62 and worried about losing everything earlier this morning – thanks everybody for your good wishes and advice. Thought you might be interested in what I did when I purchased my house in Campbelltown in 1997. Purchased it for $112,000, now worth about $360,000. Increase in price not just market gain – I created a granny flat out of double garage and now let it fully furnished for $150 a week. Cost me roughly $25,000. Means no extra rates and capital gain on property. My property, although now nicely renovated, is really not much different from a hundred others nearby who nearly all opted for a pool instead, but I am finding that the prospect of extra income is a comeon for prospective buyers who are staring at a hefty mortgage to purchase. Yes, not for everybody but just throwing it into the pond for consideration. Enjoying the comments and giving lots of food for thought[^]
I agree! I too built a granny flat under a home that I bought for 260,000 which is now valued at 500,000. The granny flat cost 22,ooo and is fully self contained and sparsely furnished. It is also rented out at $180 per week to an oil rig worker who is only here every second month. I take care of his dog while he is not here whihc is great as being a single mum I get extra income, a part-time guard dog and never see the tenant at all. Would I do this again…yeah!!! The granny flat is built along the lines of a teenage retreat for future marketing to families. cheers!
GO GIRLS GO! [:X] [
] [:X]Just had to respond to these two brilliant people.A terrific example of what creative thinking can achieve.
Rita [
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