Many homeowners in Sydney, Melbourne, Gold Coast, Brisbane, Wollongong, Newcastle, and other locations need finance to build a granny flat in their backyard. So, how to finance a granny flat?
You can talk to our specialist associate, Paul Zahra of Cerberus Finance, an expert in helping our customers to finance their backyard building projects.
Maybe you think you need a granny flat loan or easy payment plan, or maybe you’re already thinking you might need to refinance. Many customers have successfully remortgaged their home to build a granny flat and actually SAVED on repayments because of the smart refinancing and more competitive mortgage rates that Cerberus might be able to recommend for you.
Paul understands the needs of our customers looking to build a granny flat in their backyard without having to invest money upfront. When granny flats are approved and certified, they can add value to your home while accommodating extended family or generating rental income.
How much finance will you need?
Before you apply for finance or refinancing, you need to find out if you can get granny flat approval for your property. We know advisors who can tell you what you’re allowed to build in your backyard, where it needs to be positioned, and what size it might be. With this information you can start planning your project and getting quotes. Obviously, granny flats that are stylish outside with high-spec interiors cost more than a budget granny flat project – so prices can vary widely, even for granny flats of the same size. We can help you along the way with this process and other customers have saved many thousands this way compared to using a granny flat building company.