RESIDENTIAL
support with child and elderly care needs while still maintaining independence through separate , self-contained homes .
Estates like Steyn City and Val de Vie have carved out a unique niche by catering specifically to the different generations : retirement units for grandparents , large freestanding homes for parents and luxury apartments for young adults , all in one secure gated community .
Unlocking the Benefits : Maximising Multi-Generational Living for your Family ' s Advantage " While the rise of multigenerational living is the result of challenging economic pressures , Smee is careful to stress that there are many financial and lifestyle benefits to this kind of living arrangement . your adult children to live with you for an extended period enables them to put money aside to fund their own property purchase , money that would otherwise be spent on rent with no asset to show for it at the end of the lease .
Other benefits of multigenerational living include shared responsibility for household expenses , increased security and assistance with child and elderly care . South Africa is a very familyorientated country , and multigenerational living can go a long way in strengthening family ties , if approached correctly .
This is particularly true in highdemand areas like the Western Cape , where the average rental is around R10,118 per month according to the latest PayProp Rental Index . This figure is slightly less than the monthly instalment on a R1 million home loan at the current interest rate . Allowing
54 JUNE 2024 Real Estate Investor Magazine