Co-habitation becoming increasingly popular, says Seeff
Category News
It has long since been a reality for three generations to live together under the same roof in South Africa. But while in the past this phenomenon was mostly reserved for rural and informal areas, it is now also gaining popularity in the middle class and even affluent suburbs of the country. The trend of co-habitation has many benefits. In rural communities it provides the working-age generations of parents to work and live in the cities during the week while the grandparents can look after the grandchildren and this practice is spreading to the urban scene by means of the aptly named “granny flat”’. While the “granny flat”, which is a smaller home or adjoined cottage to the main property, is extremely popular, some generations also choose to share a very large house (often with four to six bedrooms) with two sets of living areas and separate entrances. More recently, the purchase of two properties in the same complex or estate has also become a popular way of co-habiting, but with more privacy and flexibility. Gerhard van der Linde, Seeff’s Managing Director in Pretoria East, says that a co-homing arrangement has also become favoured due to the high costs involved with retirement. “There is often a shortage of retirement estates and facilities and the costs involved are often prohibitive to older people who have been on retirement for some time. In addition retirees, especially those widowed, may find it lonely and long for the bustling home life. Co-homing does not only offer a solution to these grandparents, but also to the parents and grandchildren as they now have someone at hand who can assist them with after-school care and homework. Although au pairs, baby sitters and domestic workers are fantastic solutions for after-school care, they often have to rush home to their own families at the end of the day. Having grandparents available to assist could be more convenient and it adds a certain level of peace of mind as well”. Van der Linde continues that the price of property can also play a part in the decision to co-habitate. “Having two sets of finances pooled to purchase a property often means a larger or nicer home can be bought. The saving of not having to pay for a retirement facility and not having to pay for after-school care provide for these extra funds to be applied to a property purchase or renovation of an existing home”. Van der Linde concludes by saying that building a “granny flat” also remains a good investment even when a family member does not live there, as an extra income can always be generated by getting a tenant.”
Author: Seeff
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