Numerous agents and authorities across the UK are reporting an increase in multigenerational living.
With a shortage of new homes being built, coupled with rising house prices, it’s clear to see why young people and families are struggling more than ever to get onto the property ladder, let alone climb it.
But it isn’t just the struggle to get on the property ladder in the first place. We’re also noticing the squeeze further up the ladder where families wishing to buy larger homes are struggling with the cost of providing care for elderly parents.
In both cases it makes sense to combine financial forces and upsize into a property large enough to house three, or often four, generations.
The multigenerational boom is certainly no bad thing for other industries. Around 125,000 homes are being converted to adapt to multigenerational living, and this is expected to increase, which is great news for your local builder. It’s also good news for the young and benefits their future, with a survey reporting that 63 per cent of people learned how to cook from their elder family members, and 60 per cent learning the skills from this generation.
Here is a selection of properties currently on the market which may suit your multi-generational requirements.