Hey all,
Up until now we've had my grandparents living in the self-contained 1.5 bdrm granny flat next to our house, however they're moving into a retirement village.
So we're trying to work out what to do with the flat. The first, obvious choice is rent it out to tenants - which we're definitely interested in doing.
However, I can't help but wonder if theres perhaps a better option, though I can't quite put my finger on it. Does anyone have any other suggestions for what to do with a smallish but comfortable, well-appointed living space? We could potentially remodel / convert the whole place into something else if that's worth doing, but I'm just struggling to think clearly about the best way to go.
Should we just rent it? We can probably get NZ$280 - $300 a week for it, as appraised by two independent valuers. I have no idea about income from other options.
Long-term it may well become useful as a home office, at the moment though the study in our house is sufficient but it's a possibility if we expand at some point and perhaps need an additional person or two involved, though I would expect thats a couple of years away if at all.
Any thoughts or suggestions appreciated
Up until now we've had my grandparents living in the self-contained 1.5 bdrm granny flat next to our house, however they're moving into a retirement village.
So we're trying to work out what to do with the flat. The first, obvious choice is rent it out to tenants - which we're definitely interested in doing.
However, I can't help but wonder if theres perhaps a better option, though I can't quite put my finger on it. Does anyone have any other suggestions for what to do with a smallish but comfortable, well-appointed living space? We could potentially remodel / convert the whole place into something else if that's worth doing, but I'm just struggling to think clearly about the best way to go.
Should we just rent it? We can probably get NZ$280 - $300 a week for it, as appraised by two independent valuers. I have no idea about income from other options.
Long-term it may well become useful as a home office, at the moment though the study in our house is sufficient but it's a possibility if we expand at some point and perhaps need an additional person or two involved, though I would expect thats a couple of years away if at all.
Any thoughts or suggestions appreciated
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