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Three Key Aspects Of Choosing Multi-Generational Living

By Courtenay Morrison

One in five Australian households have adults from 2 or more generations living under one roof.
Multi-generational living has established the need for foresight in property investment, encouraging
new buyers to ask the question: where will my family be in 10 years time?
According to the ABS, the number of related individuals living in family households is projected to
increase to between 781,000 and 815, 000 in 2036. So why choose multi-generational living? We
have all the answers you’re looking for.

#1 RESPONSIBILITY

It takes a village to raise a child. We understand how difficult finding the balance between work and
family can be. Multi-generational living assists not only with your children becoming surrounded by a
family filled environment, but further assists you with those essential tasks that need to be met
daily, like picking the kids up from school or packing daily lunches.
Multi-generational living is the perfect opportunity to create a consistent family environment of
support and care through all generations.

#2 AFFORDABILITY

Are you set on that luxury home, but struggling to find the funds for it? Multi-generational living is
the way to go. Co-purchasing a home can assist in getting you to where you want to be. With over 4
million Australians living in multi-generational homes, Sydney leads the way with 1 in 4 people in this
living situation.
Housing affordability is becoming increasing difficult when choosing to live in the central areas of a
major city, but with effective planning, you can purchase your dream property in your dream
location and be surrounded by family at the same time. Sounds like a fantastic deal to us!

#3 COMPANIONSHIP

Dr Edgar Liu from the University of NSW’s Future Research Centre has said the biggest factor driving
families to live together in the modern age is companionship. With 55% of families citing this as the
main reason for their decision, only 10% were doing it for financial reasons. Although privacy and
space are important considerations, multi-generational living is a fantastic way for families to stay
connected, allowing for greater intergenerational connections.
If multi-generational living is something you are contemplating for your family, it is a good idea to
immerse yourself in the vision of ‘future proofing’ prior to purchasing your next property.
Envision where you will be in 10 years time. Create multiple living spaces through the use of
kitchenettes and multiple entrances to your home. Wheelchair proof your flooring when you
purchase and think about creating wide door frames and a wheelchair friendly bathroom for
potential future use.
Make sure everyone in the home has their own space by creating study nooks and having multiple
living areas. Statistics are proving this cost-effective way of life is the future in terms of family living,
why not think about it for your family today.

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