Posted on Wednesday, November 19, 2014
The Treasury estimates 24,150 homeowners in England alone have built ‘Granny Flats’ to help care for elderly relatives and I predict that this is the start of a phenomenal new trend that is going to rapidly expand. One of the biggest injustices we witness on a weekly basis when we are out valuing is where homes are having to be sold in order to fund the extortionate fees of care homes(often well in excess of £1000 per week) when those without property are looked after scott free! Any equity that is in the house very quickly evaporates leaving nothing for those who have been responsible, worked hard and saved, to pass onto their family. Whilst not the answer for everyone there will be many out there who will want to care for their elderly relatives at home and will adapt their property accordingly (also adding value).It can be a win , win situation , knowing that they are getting the right care in a familiar environment at a fraction of the cost. Did you also know that properties with annexes built for family members will get 50% off their council tax bills from next April 2015?! ‘’The government will implement a National Council Tax discount of 50% for property annexes. This will help support extended families living together, for example with children saving for a new home or elderly parents’’ said a spokesman for the treasury.
To address demand we have now set up a ‘Granny Annexe’ department and already have a number of suitable properties on our books ,either with Annexes or the potential to build one. Interested?..please call us on the usual number!