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Burnt-out houses and missing walls, sections that can’t be built on and tricky leasehold apartments were among the cheapest properties snapped up by bargain. ....
But he warns that, while the income is good, “the initial outlay is much more than you expect. All the services add up. The cost of plumbers down here is insane, and the electrical work”. The cabins were finished two years ago and are now let out for about $180 a night each, with about 80 per cent occupancy. Supplied Richie Pearce says the cabins cost more than he expected to build, but the income from letting them out is coming in handy. With property prices sky-high and climbing, should more people consider building a second dwelling on their property? A self-contained sleepout or tiny home might offer flexibility for family and friends to stay, or options for longer-term tenancies, as well as holiday rentals. It might also increase the value of the property for re-sale. ....