With an ageing population and rising house prices in areas such as New South Wales and Victoria, intergenerational living is becoming a trend, helping families to cut costs and provide support to single parents and elderly family members.
According to Elderton Homes, the trend hasn’t gone unnoticed. The company reported witnessing a steady increase in enquiries from purchasers seeking intergenerational homes over the past year.
Greg Hendy, Design Manager for Elderton Homes believes the trend is here to stay, offering multiple benefits.
“Many cultures have adopted this way of living for centuries, however Australian families are now realising there are significant advantages associated with intergenerational living. By pooling cash resources, it can make it easier for some people to move into a dream home earlier,” Mr Hendy said.
He said other benefits include bonding with family, an extra set of hands for baby duty, having support for elderly family members, and decreasing the financial burden of homeownership with shared living costs.
“For intergenerational homes to be a viable option, family members need to have several open and honest discussions about what they are seeking to achieve and work through various design options to ensure all family members needs and wants are adequately met,” Mr Hendy said.
Intergenerational living generally requires a fully self contained area with an extra bedroom, an ensuite and wardrobe or a storage space, plus a separate living area if space permits.
Another benefit to these designs is versatility – if living arrangements change, these areas can be transformed into a teenage retreat or granny flats can be rented out for additional income.
Elderton Homes provide their top five tips to consider when designing a home for intergenerational living:
- Identify the needs and wants of all family members before choosing a design. The right floor plan will help to ensure the new home project is a success.
- Design the extra space from an adaptability perspective. Consider how it could be used for multiple purposes over time.
- Assess the financial situation of all family members prior to starting the home design shopping process. Knowing what the budget is before starting will ultimately determine the final design.
- Intergenerational living requires negotiation. Consider what all family members are prepared to compromise on.
- Pick a location that is convenient, such as being close to shops, hospitals, schools, employment hubs and transport links.