The property market doesn't always go up….it also flat lines or even falls. Steve McKnight's book (0 to 260) assumes in general that property goes up in value around 30% of the time.At this stage I've decided to hold a little longer.  Think there is a tiny bit more growth to come.

I guess what I'm asking: is the property market about to flatline for the next several years???The days of cheap money are now gone.

I guess the only risk you run is insurance liabilities from tenant in un-approved granny flat (i.e. tenant being injured due to fault with accommodation)…I'm sure insurance companies would not pay out because of this???

I too, am looking at purchasing a property with a separate granny flat.  It was originally a shed and garage all in the one. Now it has been renovated into a 2 bedroom granny flat with kitchen, bathroom, and garage.  Buyers are spooked, and so am I, as the granny flat was only approved as a shed, not a liveable dwelling for humans to live in.  Ve…[Read more]

I too, am looking at purchasing a property with a separate granny flat.  It was originally a shed and garage all in the one. Now it has been renovated into a 2 bedroom granny flat with kitchen, bathroom, and garage.  Buyers are spooked, and so am I, as the granny flat was only approved as a shed, not a liveable dwelling for humans to live in.  Ve…[Read more]

I too, am looking at purchasing a property with a separate granny flat.  It was originally a shed and garage all in the one. Now it has been renovated into a 2 bedroom granny flat with kitchen, bathroom, and garage.  Buyers are spooked, and so am I, as the granny flat was only approved as a shed, not a liveable dwelling for humans to live in.  Ve…[Read more]

The problem is, someone would still own the land right?