Real Estate Investor Magazine South Africa September 2016 | Page 31

November noting that more young adults (aged 18 to
34) in the United States are living with their parents
now than at any time since 1940.
And while economic necessity may be the current
primary driver behind families needing to share
properties, Geffen says there are several advantages
to this type of arrangement that mitigate the reduced
amount of personal space.
“There’s always a silver lining to be found in any
challenging situation and in this instance there are
several, even if it’s a case of three generations squeezed
into one not overly large home.
“Shared expenses ease the financial burden and allow
for a better quality of life. Sharing a home can also
strengthen family ties in a world where the traditional
family unit is far less common than a generation ago.”
Few families today can afford a stay-at-home parent
and many are finding it difficult to cover the costs of
childcare, so in this way the need for care for both
grandchildren and grandparents can be seamlessly
accommodated.
Multigenerational living also offers increased security
for homes as they’re not unoccupied for long stretches
during the day, as well as for elderly family members
in general, who would be more vulnerable to targeted
crime if they were living alone.
Planning, flexibility and ground rules are essential
to make it work for everyone in the long term, because
unless all parties buy into the household ethos it can
go horribly wrong.”

The following guidelines will help to avoid
pitfalls and maximise the benefits:

A rental income can help to pay off your home loan
faster, and also enables first-time buyers to enter the
market sooner. It might take a bit of time to find