In the fairly recent past, it was traditional for one or both parents to live with their adult children, a domestic pattern which has gradually become less common as the years passed and having your own independent family home became the thing to strive for. Nowadays though, there is a renewed interest in having gran or granddad, or even a grown up child live with the family, in a dedicated annex space often called a granny flat.
Tax breaks boost
This sudden boom in granny annex building may be down to the basic fact that the government has removed some of the restrictions which in the past made it quite an expensive option. For example, presuming the occupant of the granny flat is a family member, the annex attracts a 50% reduction in council tax. That is a huge saving, even in the cheapest property brackets.
Huge growth in numbers
Recent figures suggest the number of households building this kind of annex has risen by a third, with over nine thousand completed in the last two years, and the trend looks set to continue.
Granny flats bring benefits
This boom is thought to be fueled by a combination of factors, including a general rise in the cost of living, house prices becoming out of reach to first time buyers, and the older generation living longer and facing the prospect of losing their homes to pay for residential care. In these cases, the obvious solution is to provide a comfortable, semi-independent place for your elderly parent to live, or for grown children, whether just returning from university or with small children of their own. If this sounds like something you would like to do, talk to reputable firms, such as http://www.annexespaces.co.uk/, to organise the details for you.
Of course, not all such moves are made for financial reasons, but they do play a major part in many, and any tax breaks that they offer help make building a granny annexe a very viable idea. Also, in most cases extending your current home is cheaper than moving to a bigger property, so it is always going to be a good long term financial decision.
Granny annexes are a convenient way to enjoy the benefits of extended family life without compromising privacy, independence and finances.