Investing smart: Your minor dwellings guide
Minor dwellings are the hidden gems of New Zealand's property market - compact, cost-effective, and bursting with potential. If you're eyeing property investment opportunities, these smaller-scale living spaces could be your golden ticket.
These secondary homes, not surpassing 65m² (excluding garages and decks), boast the potential to redefine space utilisation of your property. From accommodating family members to becoming a rental income source or a tranquil home office, their possibilities are endless.
Why Minor Dwellings Are a Big Deal:
They may be small in size, but minor dwellings pack a punch in the investment arena. These self-contained units, also known as granny flats or units, offer a more accessible entry point into property investment compared to larger developments. Plus, they come with a slew of benefits:
Affordability: They're lighter on the pocket in terms of construction costs compared to larger properties.
Versatility: Whether it's renting out for extra income, accommodating family members, or creating a cosy workspace, these dwellings cater to diverse needs.
High Rental Potential: Their compact size often translates into higher rental yields, making them an attractive option for investors seeking solid returns.
Let's explore what you need to know to make the most of this exciting investment opportunity:
Differentiating Dwellings
The Auckland Unitary Plan (AUP) distinguishes between principal dwellings and minor dwellings - principal ones having no size limit, while the latter are smaller and supplementary, perfect for various needs. Not to be confused with sleep-outs, minor dwellings boast fully-equipped kitchens, making them stand as a unique residential offering.
Diving into Auckland's Zoning Tapestry
Understanding Auckland's zoning regulations is the key to unlocking the potential of minor dwellings. The AUP permits up to three dwellings in certain zones, offering homeowners newfound flexibility in maximising their properties. At Gubb Design, we have the expertise to assist you in navigating these regulations, providing tailored advice to help you make the most of your property.
Auckland Council Guidance & Consent Requirements
Navigating building and resource consents can be a maze. Auckland Council has put out a helpful guide on minor dwellings, offered as a practice and guidance note. While it's mostly geared toward planners, it's a great resource for anyone looking to learn more. Under specific circumstances, acquiring building or resource consent for your minor unit may not be necessary. The Land Transport Act (LTA), Building Act, and Resource Management Act (RMA) through the AUP collectively influence these determinations.
Balancing Investment & Returns
Though the initial investment for constructing minor dwellings might seem substantial, the potential returns outweigh the costs. These spaces offer diverse possibilities - be it generating rental income, boosting property value, or fashioning personalised living spaces. Minor dwellings are more than just an extension; they are gateways to unlocking untapped potential within Auckland properties. With the right advice, homeowners can redefine their living spaces, enhancing property functionality and value.
Curious? Connect with Gubb Design
Regulations Simplified: We'll guide you through local council requirements and building codes, ensuring a hassle-free project.
Design Beyond The Imagination: Our expertise lies in crafting spaces that are not just beautiful but also highly functional. We'll tailor the design to meet your investment goals.
Return on Investment: Minor dwellings often offer quicker construction timelines and potential for excellent returns. We'll help you maximise your investment potential.
Contact Gubb Design today for tailored advice and expert guidance to unlock your property's potential!