One of the latest trends in the property market, and one we are seeing increasing numbers of our customers looking for, is multi-generational living. This is when several generations of a family decide to live together under one roof. In recent years the combination of increased house prices, an older generation who are living longer and a boomerang generation of children who are leaving home later means that we have seen a return to families sharing a home. Although it may mean thinking outside of the box a little bit there are actually many great reasons to purchase a multi-generational property and in our blog we’ll look at the benefits that it can bring and how you find a home which works for every member of your family – young or old.
The benefits of a multi-generational home
One of the key benefits of a multi-generational home, and the main reason that people choose to live this way, is that it helps everyone out financially – meaning that there is more money in the pot for everybody. Often it enables the younger generation to get on the property ladder and by pooling funds together as a family you will usually find that you can purchase a significantly better property than you could on your own. Not only that, but bills and household costs will also be shared and there will be more money available for renovations and home decoration. As well as the financial implications there are a number of other perks to multi-generational living. If you have older relatives living with you it means that they can retain their independence for longer and can be cared for within their own family rather than having to go into a home. If you have young children then grandparents are on hand to help out with childcare. Living together is also great for the environment as you will reduce your carbon footprint significantly.
What to consider when searching for a multi-generational property
Finding the perfect property which can successfully span the generations can be hard work but fortunately the Wrights team are here to offer help, support and guidance. In the first instance it is important to decide how you want to live. Will you live communally – sharing a kitchen and living area - or would you prefer an annex or self-contained extension to allow for an element of independence? You should also consider whether you will need any modifications made to a property to support an elderly relative for example. Finally it’s vital to be open and honest about the requirements of each generation to ensure that you can find the ideal home for everyone and time spent discussing this in depth means that you are more likely to make the correct choice and spend less time on your property search.
At Wrights we have a number of properties which offer the perfect living space for a multi-generational family, so why not get in touch and find out how we can help you find your dream home!