Multi-generation living means multiple generations living in the same home. Usually, they are family members living in the same place. With the high dwelling prices and tightened mortgage rates buying home in Australia is now becoming a challenge for the people. Thus young people are more intended to live with their parents now. Which ultimately increases the number of people living in a multi-generational living.
Though for most of the Australians the concept of living in a multi-generational home is quite new. But the reason for doing so is they can’t afford to buy a home in Australia as the dwelling prices are increasing rapidly. Along with this they don’t have enough earning. And to minimize their expenses and to reduce their cost of living they are shifting back to their parents home along with their children.
Property valuers Perth are saying - “People are liking this idea of a multi-generational home as it is bringing a win-win situation for parents and young people both.”
How are they managing their personal lives while living in multi-generational homes?
Some families are sharing their communal areas only like kitchen and bathrooms and keeping their bedrooms separate and private. While other are separating the floors with their own living areas, kitchen, and bathrooms. Which keeps them together and apart at the same time. Thus youngsters are taking benefit of living with their parents by minimizing their expenses and maintaining their privacy too.
Sharing and caring benefits -
Living with your family not only gives you a financial advantage but also provides you tremendous of benefits.
For oldies -
For them, It's a boon to be with family and grandchildren. They can spend their time playing with their grandchildren. In the old age when you need more concern, care and love, to be with a family is blessing. Living alone dread the person and hurt oldies in all ways mentally, physically and emotionally.
For Children -
Children can learn new skills, things from their grannies. This helps the working parents to save their money that they would spend on childcare, babysitters, after-school homes as their parents are there to take care of their small kids.
For youngsters and adults-
Having retired parents at home means you don’t need to match your time with the domestic workers time. Parents are all free to manage all household chores easily. So, youngsters, they don’t have to bother about home maintenance and management, as parents are there to look around.
Save money and environment -
You can save money on energy bills as you are sharing your homes. So your living areas are same you can get the maintained temperature when you come home you don’t need to on your air conditioners separately which helps you to go green.
Benefits of having multi-generational homes are many. It’s up to you what you want to choose.
For any property valuation services, you can contact our property valuers.