In the face of continued high prices for both buying and renting accommodation, Australians are looking at how they can maximise the use of their existing house and land. Australians are slowly embracing the idea of the multi-generational home.
Multigenerational living is a way for families to deal with the cost of living and housing affordability. By combining resources, families are getting a much more efficient financial situation, as well as the added support of extended family.
There is no denying that our population is ageing. In multigenerational living arrangements, the children are there to support their parents to live independently and extend the time they stay outside of aged care.
Such living situations can be beneficial for everyone. For example, they provide security for retirees who worked before compulsory superannuation and are at risk of running out of funds. For the children of these older Australians, the most obvious path to owning their first homes is living with parents while saving for a deposit. Other benefits include a live-in babysitter or pet-sitter, as well as piece of mind. 
All of these factors have increased the demand for properties designed to accommodate more family members, which might include granny flats or multiple living areas. The granny flat industry is growing and the design and look of granny flats themselves have improved markedly. Granny flats are enjoying renewed support from all kinds of residents retirees, renovators and even younger consumers looking for a way into the housing market.
For older Australians looking to downsize but stay near family and not ready for retirement living, the granny flat means independence and security. For renovators, a granny flat can be a haven while builders tear things apart in their main residence. Today’s granny flat is tomorrow’s home office, teenage retreat, hobby space, guest room, rental accommodation or parental retreat.
