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Buying a property with a granny flat as a first home buyer combines FHB stamp duty concessions with rental income. The granny flat income improves borrowing power and can significantly offset mortgage repayments.
Yes, in most states — the FHB stamp duty exemption applies to the whole property as long as you intend to live in the main dwelling as your principal place of residence. Having a granny flat on the property does not disqualify you, but some states set price thresholds that may exclude larger granny flat properties.
Most lenders will include prospective granny flat income at 70–80% if there is an existing tenancy. For a new granny flat, some lenders include a modest rental estimate (based on a rental assessment) but not all. Ask your broker which lenders are most flexible.
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