Granny Flat Investment | PK Private Wealth | $200k Build, $300+pw
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PK Private Wealth · Granny Flats

ONE BLOCK.
TWO INCOMES.

A second dwelling is the cheapest second income in property. On a block you own, or one we find for you.

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What a granny flat is

A second home on ground you already paid for.

A granny flat is a self contained secondary dwelling built on the same block as an existing house. Its own kitchen, its own bathroom, its own front door, and in many areas its own tenant paying its own rent.

 

The appeal is simple. You are not competing at an auction, not paying stamp duty again, and not borrowing for new land. You are making an asset you already own do two jobs instead of one.

 

It is also the most flexible thing we build. Rent it out, house a parent or an adult child, or keep it for yourself later and rent the main house.

“The back yard was doing nothing except growing weeds. Now it pays a second rent every week and the property is worth more than the build cost.”
Kate, suburban Melbourne
The cost
Far below another deposit, stamp duty and purchase costs combined
The catch
Not every block qualifies. Rules differ by state and by council
The first step
A feasibility check, before any money goes into design
Watch before you build

Will the block actually take one?

Before anyone talks to you about design, someone should tell you whether the council will even approve it. This video covers what makes a block suitable, what the build realistically costs, what it should rent for, and the approvals that catch people out.

 

The same checks apply whether the block is already yours or we buy one for you. Expect $200,000 to $250,000 to build, and $300 to $500 a week in rent depending on location.

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How it benefits you

Small move. Real difference.

Why so many of our clients start here before touching anything larger.

A second rent, same block

Two incomes from one block of land. You pay for the land once and it earns twice.

It can lift the valuation

A compliant second dwelling often increases what the whole property is worth, sometimes by more than the $200,000 to $250,000 build cost.

Faster than buying another property

We check zoning, block size and council rules before you spend anything on plans. We run the same check on any property we buy for you.

Two tenancies, less exposure

If one dwelling sits empty for a month, the other is still paying. Your risk is halved rather than doubled.

It can house family too

Plenty of our clients build for a parent or an adult child first and rent it out years later.

Feasibility comes first

We check zoning, block size and council rules before you spend anything on plans.

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Recently built

Same land. Two incomes.

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Honest answers

The things that catch people out.

1. What exactly is a granny flat?
A self contained secondary dwelling built on the same block as an existing house. Its own kitchen, its own bathroom, its own front door, and in most areas its own tenant paying its own rent.
No, and this is the single most important thing to check first. Minimum block size, setbacks, access and drainage all matter, and the rules differ by state and council. We assess feasibility before you spend anything on design.
Yes. We look for blocks where a second dwelling already stacks up, then run the feasibility check before you commit. You end up buying one property and collecting two rents from the start.
In most areas yes, on its own lease to its own tenant. A few councils restrict occupancy to family only. We confirm the position for your specific block before you start.
Different, not better. A granny flat skips the stamp duty, the auction and the new land. A second property gives you a second asset to sell. Many clients do this first, then buy again with the extra income behind them.
6. What does a granny flat cost to build?

Usually $200,000 to $250,000, depending on the size, the site and how much the council asks for. That figure covers the build. Feasibility, design and approvals sit alongside it, and we cost all of them before you commit.

Commonly $300 to $500 a week, depending on location. On a $200,000 build that is a strong return on its own, before you count what it does to the value of the whole property.
Usually yes. A compliant second dwelling increases what the whole property is worth, sometimes by more than the build cost. The valuation follows the income, which is why compliance matters so much.
Most clients draw on the equity in the existing property rather than saving the cash. Some lenders also offer construction funding for a second dwelling. We scope the finance with a broker before design begins.

Our recent builds have landed between roughly 7% and 8% gross on the combined property. The case studies on this page show the actual weekly figures for each one – main residence and granny flat – side by side.

11. What makes a block suitable?
Enough land, the right zoning, a workable setback from boundaries, separate access and somewhere for drainage and parking. Shape and slope matter as much as size. We check all of it before anyone draws a plan.
It depends on your state and your council. Some allow a fast track approval where the design meets set criteria. Others require full planning consent. We identify which path applies to your block up front.
Significantly. Minimum block sizes, whether you can rent it to a non family member, and the approval pathway all vary. This is the main reason a generic granny flat guide will not answer your question.
In most cases no. A granny flat usually stays on the same title as the main house. Where subdivision is possible, it is a separate approval process with its own cost. We tell you which applies before you build.
Paying for design before anyone checked feasibility. Assuming the council rules from the next suburb apply to theirs. Underestimating drainage and access costs. All three are avoidable with one check at the start.
16. How long does the whole thing take?
Feasibility and approvals usually take the longest, then the build itself. Timelines vary by council and by builder. We give you a realistic schedule at feasibility stage rather than an optimistic one at the start.
We coordinate the feasibility, the design, the approvals and the builder, and we stay across it until it is tenanted. You are not chasing three trades and a council officer yourself.
Yes, and plenty of our clients do. A parent or an adult child lives there first, and it becomes a rental years later. The asset is built either way, and so is the valuation uplift.
Council rates usually rise, and a higher property value can affect land tax depending on your state and your holdings. The extra rent normally covers it comfortably. Your accountant should confirm your own position.
Separate entrances, separate leases and, in most builds, separate utility metering. Good design keeps the two households independent. It is one of the things we look at before the plans are signed off.
16. What are your fees, and what do I get for them?

Our Granny Flat Strategy is part of PK Private Wealth, and fees start from $20,000 plus GST. The final fee depends on your brief, the property and how complex the project is. We confirm the full fee in writing before you commit, so there are no surprises later.

For that fee, we manage the strategy from start to finish, and you do not need to own a property already. If you do, we check whether it suits a granny flat. If you don’t, we find and negotiate a property with granny flat potential on your behalf. Then we facilitate the build of the granny flat itself.

You are the only party who pays us. We take no commissions, no kickbacks and no referral fees from sellers, developers, agents or project marketers. That is what lets us tell you when a property is wrong.

We use a synthesis of 30 to 35 data factors. Stock on market, days on market, rental growth, building approvals, discounting, developable land supply, job advertisements and mortgage affordability all carry weightings and thresholds. Where demand exceeds supply, prices rise.
Around 73% of what we secure is agreed before it is publicly listed. Our research team tracks the market continuously and works agent relationships in every state we buy in.
Yes. Many clients buy through an SMSF or a trust, and ownership structure matters more since the 2026 tax changes. We will connect you with the right accountants and tax planners. We do not give tax or financial advice ourselves.
A serious operation

Put the back yard to work. .

Let’s talk it through. In just 15 minutes, we’ll map your next move and the thinking behind it — so you know exactly where to start

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Build Property Wealth & Freedom — Even in a Downturn

The property market has changed, but opportunities still exist for investors with the right strategy.

Discover how PK Private Wealth can help you navigate today’s market and build long-term property wealth and freedom.
PK Private Wealth

CAT StrategyTM

Enter your email, get the free strategy video and book a free discovery call.
  • 1050+ 5-Star Reviews