The Future of Housing - Part 7
If you have kids who are starting out on their working life journey, you must, like me, wonder how on earth will they ever afford to get into the home ownership market.
There is a solution……
Generational Living
It was the norm for centuries that families were raised in a house and aged in that same house. It’s only been the last 100 odd years that economic prosperity have moved people up into the “middle-class”, and has allowed people the option to become independent and able to purchase their own homes.
The theme of this discussion over the past few weeks has been about the increasing issue of affordability. European countries and many parts of Asia have for some time been stepping back as it were, to multiple generations of families living under the one roof.
We are also starting to see it in Australia, with kids leaving home much later in life than was the case 20-30 years ago. This is all driven by affordability and it will be a factor that will continue to grow.
Multi-generational housing however, doesn’t mean you have to share the one kitchen with your 25-year-old son and his girlfriend, or that your mother-in-law is constantly offering “advice” on how to raise your kids. With some simple but innovative designs, 2-3 generations of a family can be accommodated under the one roof, yet with their own independence and their own spaces.
One caveat though…when matched with affordability, it will be important to consider a staging option. Simply building a 4-5 bedroom house with various independent living units is an expensive option. However there are companies, such as Martin Locke Homes in Townsville, who are starting to embrace this design change and are leading the charge.
Next week…Ageing in Place
John Rosel