Extended families living under the same roof is not a new concept but it is a relatively new and popular development in the Perth area. Thanks to the new economy, there are so many instances of three generations living under the same roof that it is now called the “sandwich generation.”
A typical sandwich generation home finds grandparents, parents and adult children living under the same roof as the younger residents save money for their own properties. The name was coined in “honour” of the adult generation, “sandwiched” between parents and children. The trend toward more extended families has caused builders to rethink home designs, with some developments in building new homes designed specifically for the sandwich generation.
One Perth-area builder, Dale Alcock Homes, recently introduced seven new home designs that cater to the sandwich generation. Sandwich generation homes are designed to have communal areas in the centre and allow each generation to have a room with relative solitude. This is often accomplished by a U-shape.
Some Reasons for the Extended Family Trend
There are many reasons for extended families growing in popularity. The first is housing affordability. While housing is affordable for many, it also takes a rather large chunk out of the average weekly pay. It can be tougher on those who have retired or who are in the latter years of their earning curves.
Many adult children, who are beginning their professional careers and find themselves at entry level wages, often can’t afford the down payment for their own house and opt to stay home longer than in years gone by.
Grandparents find themselves constantly coping with inflation, many on fixed incomes that don’t leave a lot of margin for error. Many would rather live with their children and have more money left to spend on themselves, while contributing to their children at the same time.
The generation that is sandwiched gets contributions from both their parents and their children, if lucky. In an ideal sandwich generation home, all three generations benefit.
Smartline Mortgage Brokers Rockingham can Help
At Smartline Mortgage Brokers Rockingham, our mortgage brokers help find home loans for all generations. If you are in the Rockingham, Kwinana or Baldivis area, stop by our office or call us: (08) 9527 1800.