In this video, Colin Fragar, our founder and CEO, shares his thoughts on which of these options is better.
Click on the “Play” button below to watch now:
Or for those that prefer to read, here is a transcript of the video…
So what’s the difference between an apartment and a granny flat? My name is Colin Fragar from Council Approval Group.
Now if you’re looking at this video, I’m talking to investors, you’re probably thinking about do I go for a an apartment or do I go for a granny flat. Now there’s some important considerations to take into account.
Differences Between an Apartment or Granny FlatPresuming you’re just purchasing one please keep in mind that a granny flat, of course, if a property has a granny flat it does not have strata levies. And it does not have some of the associated fees associated with an apartment.
However, the key difference between an apartment and a granny flat, which you may or may not be aware of, is an apartment can be sold individually a granny flat cannot. And that’s actually a question that we get asked quite a bit. I’ve got this granny flat on my property, can I split it off? Can I subdivided it?
The answer is sometimes. Yes, we can sometimes change the use to what we call a dual occupancy. Then separate the title and be able to sell it for you. But usually a granny flat certainly cannot be subdivided and certainly cannot be split off by itself. But if we can do a change of use to a dual occupancy subdivision, then we may be able to do it for you.
Really, the question as to whether which is better an apartment or granny flat really rests on what you’re trying to achieve.
Making the ChoiceReally, the question as to whether which is better an apartment or granny flat really rests on what you’re trying to achieve. And so what I would like to do, it’s very hard to answer this in a video, I would love to offer you two things. The first is Your Ultimate guide to Council Approval. In here there are some tips and tricks with granny flats, dual occupancies and apartments. Please grab that off our website from councilapproval.com.au. But really what’s going to be best for you is a one on one consultation with one of our Council Approval Group consultants. To claim your free consultation please book in for a consult at councilapproval.com.au.
My name is Colin Fragar from Council Approval Group. I wish you every success.