29 Mar Multi – Generational living is a growing opportunity
Multi – Generational living is a growing opportunity
Multigenerational ‘multigen’ living is on the rise in the UK. Thanks to soaring property prices, stamp duty and moving costs, housing shortages and an ageing population.
The number of 20-34 year olds living with their parents has increased by 25 per cent whilst an increase of 46 per cent rise for households with two families living together, such as a couple with one set of parents.
One of the benefits of this is there is always someone around to talk to and the opportunity for middle-aged couples to look after the grandparents and the grandparents to look after the grandchildren.
Generations have pooled resources to buy a bigger house or one with a granny annexe and in these circumstances it’s worth thinking about how to adapt the property to cater for everyone.
Loft conversions, ground floor extensions, garden studios and basements can all provide extra accommodation.
In USA developers have readily embraced this trend with duplication of the main living room, multiple master bedrooms and ‘in-law suites’ that function as mini-apartments.