What’s not to Iike……it’s not just the financials…..the potential tax savings based on the now and what might be coming are of course tempting….. The rise in popularity for multi-generational living (MGL) is mainly due to: Cost of living: Sharing a home saves money on mortgages, rents, utilities, childcare, and more. Housing shortage: In some areas, there just aren’t enough affordable homes to buy or rent. Elderly care: It’s easier (and cheaper) to care for aging parents at home instead of paying for care. ALL financial necessities rather than free choices to live as a family/community. However, since COVID, a lot of people have realised the value of having family nearby during tough times, not just from a financial perspective. Of course there are many perceived and actual disadvantages as shown in the image……. As a family that has mostly lived in 2 and 3 generational households since the late 1980s the benefits vastly outweigh the disadvantages. The financial reason/s have not been in themselves part of any decision, merely a side benefit which grows in values year on year. (Current and future taxation is a big thing to consider. Biggest change that most ‘have’ to make is being more considerate of others and making sure there is an outlet for ‘disputes’ accessible to all. Designing in private space (private time too😊) is key, if possible. We have always been fortunate to have sufficient space or opportunity to do this. Our development projects have the opportunity for some buyers to consider multi generational design. We are designing homes for the future and MGL will be a big part for many. Get planning now rather than getting left behind or finding that it’s too late. https://propertyindustryeye.com/multi-generational-living-becoming-more-popular-due-to-rising-living-costs/?utm_source=chatgpt.com

Posted by Richard Little at 2025-04-27 12:03:21 UTC