For the family
Families are constantly evolving, as are lifestyle trends, and one of the latest is that of multigenerational living, where two or more generations choose — or need — to live together. It is said that one in five Australians now live in a multigenerational home, with the proportions higher in the big cities. There are many reasons for this. When both parents are working, it may make sense for grandparents to move in and look after young children. Similarly, grandparents might move in for support and companionship when they become elderly or infirm.
With many adult children finding it hard to get their foot on the first rung of the property ladder, living at home — but doing so with a degree of privacy — can be a great way to help them save for a deposit on a home of their own. Others may simply have a large extended family that frequently comes to stay.
“Multigenerational living, while not a new phenomenon, is definitely on the rise due to the increasing costs of rent and property prices. Families are looking for homes that will cater for growing children who are progressively moving out at a later age while saving for a deposit for a house of their own,” says Dominic Curkovic, sales manager of Rawson Homes. “Some children even co-purchase houses with their parents, or parents/other extended family are moved in to yield additional income.”
Candice Concentin,
