Melbourne’s property market continues to attract investors looking for smart, resilient opportunities. While many focus on large developments, a growing number are turning to 2 bedroom granny flats as a way to create reliable rental income and add long-term value. With well-designed granny flat floor plans, investors can tap into strong tenant demand while also building lifestyle flexibility for families.
But how much does a 2 bedroom granny flat really cost, and what kind of return can investors expect in Melbourne’s premium suburbs?
Why 2 Bedrooms Make a Difference
Compared to single-bedroom designs, 2 bedroom granny flats appeal to a broader audience. Families, couples, professional sharers, and downsizers all find comfort in the extra space. This wider tenant pool translates directly into higher weekly rent and lower vacancy risk.
In Melbourne’s premium corridors, a quality two-bedroom granny flat often achieves between $500 and $600 per week, delivering strong cash flow for investors. For homeowners, the second bedroom also adds flexibility — whether it’s for visiting family, aging parents, or even a future work-from-home setup.
Cost of a 2 Bedroom Granny Flat in Melbourne
On average, the cost of a 2 bedroom granny flat sits between $190,000 and $240,000. The final price depends on site conditions, inclusions, and finishes, but the return on investment often justifies the upfront expense.
Unlike larger dwellings, construction and compliance costs remain manageable, and the additional rental income helps offset finance quickly. Investors who choose premium finishes often see better tenant retention and stronger long-term growth.
At Innovista Group, our 2 bedroom G-Flats have been carefully designed to balance comfort and cost-efficiency. A typical 60m² plan includes:
- Two full bedrooms
- A spacious open-plan living and dining area
- Full-size kitchen with modern fittings
- European laundry with storage
- Large bathroom with walk-in shower
- Outdoor decking for entertaining
This layout proves that compact footprints can still feel generous, especially when paired with intelligent design.
Premium Returns Through Smarter Design
The success of a 2 bedroom granny flat comes down to design. Open-plan layouts create a sense of space, while thoughtful placement of bedrooms ensures privacy for tenants. Outdoor access — such as a deck or courtyard — extends usable living areas, making small homes feel much larger.
Granny flat designs with 2 bedrooms are also highly adaptable. Families might use them as long-term accommodation for parents or adult children, while investors target Melbourne’s growing professional and downsizer markets. This adaptability safeguards returns, even as tenant preferences shift.
Adding Value With Quality Inclusions
While some builders charge extra for upgrades, Innovista Group integrates premium touches as part of our Signature and Luxe Series. These inclusions not only elevate comfort but also increase rental appeal in Melbourne’s competitive premium market.
Features such as 2700mm or 3000mm ceilings, stone benchtops, hybrid SPC flooring, and floor-to-ceiling bathroom tiles create a modern, apartment-style feel that tenants are willing to pay more for. Skylights, oversized showers, and energy-efficient glazing further enhance livability, ensuring homes remain attractive over the long term.
By blending practical layouts with stylish finishes, 2 bedroom granny flats become more than just “backyard units” — they stand as desirable, independent homes in their own right.
ROI Potential for Melbourne Investors
Financially, the numbers speak for themselves:
- Weekly rental income of $500–$600 delivers annual returns between $26,000 and $31,200.
- With construction costs from $190,000, yields often range from 7–10%, depending on the suburb.
- Long-term, properties with a secondary dwelling experience stronger resale appeal and higher valuations, as buyers increasingly seek dual-income potential.
For families, the return isn’t only financial. A 2 bedroom granny flat offers flexibility for changing needs — from housing relatives to providing a stepping stone for adult children. That lifestyle return is often just as valuable as the rental yield.
Making 2 Bedroom Granny Flats Work for You
For Melbourne’s premium market, 2 bedroom granny flats represent one of the most balanced property investments available. They deliver a mix of affordability, adaptability, and strong returns that few other options can match.
At Innovista Group, we design granny flats that feel like true homes. With carefully planned 2 bedroom granny flat floor plans and premium inclusions as standard, our builds are tailored to meet both family needs and investor goals.
Whether you’re looking to increase your rental income, add long-term value, or create a flexible living solution for loved ones, a 2 bedroom granny flat can be the smart next step.
Ready to Maximise Your Investment? Reach out to Innovista Group today to discuss your 2 bedroom granny flat project. Our team can guide you through floor plans, premium inclusions, and investment potential, helping you create a stylish, high-return secondary dwelling for your Melbourne property.
