Usually the news is about those pesky Millennials staying at home longer, however the latest research suggests that about one in five Australians now live in a multi-generational household – and it’s being driven by boomers moving in with their grown-up kids to save cash.
A survey by UNSW’s City Futures Research Centre last year found 55 per cent of those living with family were doing so for financial reasons – the second most common reason was to get care and support.
According to the ABC, builders are reporting an increase in demand for homes designed specifically for multiple generations and are tailoring their offerings to suit.
I can see the appeal of moving in with family. My aunt and uncle bought a house with a separate flat downstairs for my grandmother where she lived until she passed away.
The new ‘Brady Bunch’?
But what about those who aren’t so keen on shacking up with the kids – and still want to save money?
The range of housing options available to those looking to downsize their home is on the rise too.
Both retirement villages and land lease communities offer access to an array of community facilities at a lower cost than what you would pay living in the wider community.
Some also offer the option of having care services delivered to you – providing support without the need to rely on family.
You can find out more about the options on villages.com.au here.
