More families are pooling their resources in order to buy houses according to estate agents Henry Adams.
According to Alex Harvey of the Horsham, Essex-based company, the current recession has meant demand for dual- or multi-generation family houses is higher than ever before.
Harvey claimed that muli-generation homes, traditionally seen as advantagous for ereas such as childcare, is now seen as a way of acquiring a “superior” propery, or a home that would have otherwise have been out of a price range.
Once acquired, an additional advantage is the ability to share on costs and responsibilities, he added.
“Families seem to be pulling together more in these difficult economic times. We’ve seen several examples recently where three generations of the same family want to occupy the same property, with the older generation, the grandparents, living in an annexe or integral apartment and their offspring and grand-children living in the main house,” Harvey said.
“ Now that it’s harder than ever to borrow funds it makes sense for those in their sixties and seventies to release the equity in their homes and buy a family home with other family members.”
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