From accommodating elderly parents or adult children to earning supplementary incomes as rentals or AirBnB’s, the granny flat of old is making a comeback and is driving demand for free-standing homes and larger properties.
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Yunus Randeree, a property professional at Tyson Properties Morningside, Durban has experienced this first hand: “Houses suitable for multi-generational families are coming onto the market in our area regularly. In fact, I’m selling more free-standing homes than ever before.”
He notes that the family who buys a property for the extended family also looks at the land the home sits on – to consider all the options. Is there room to build on a cottage for parents, can the home be renovated or is it better to demolish and build a new home on the land?
“These buyers will typically view a property three or four times before they make an offer to purchase. They will bring in architects and designers upfront to determine if the home can be changed and given a good flow to suit everyone in the family. The majority of buyers want modernity and entertainment spaces and gardens are key. Onsite parking is also critical,” he says.
Balancing family spaces
Randeree continues that both personal and private space for each of the generations is important. For example, grandparents need to have ease of access to their grandchildren – but also have their own ‘space’. Students and adult children also need to have their own spaces, preferably with separate entrances so that they don’t wake their parents when arriving home in the wee hours and can entertain friends.
“Our decision to accommodate my parents was based on two critical factors – security and finances. When we realised that our current small property was not suitable for building a flat for my parents, we began looking elsewhere in the same neighbourhood.”
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“Just five years ago, there was very little in Westville with most options being cold and dilapidated converted servants’ quarters of old or poky add-ons.
“Although we relocated less than a kilometre from our home, we found a property that was flat and large enough to build a suitable stand-alone flat that would add value to the property while giving us peace of mind that my parents were safe and had help on hand for medical emergencies,” said a Cowies Hill homeowner.
“A Westville resident just across the road has bought a large family home and is renovating the garden cottage for one set of parents and building another to accommodate the other. The latter travel and have a lock-up-and-go option with their children stepping in to take care of pets when they pack their bags.”
Rising generational pressures
Although generations sharing homes was common and even a tradition in certain communities in the past, this is now far more universal given the cost-of-living, high unemployment, and the rising cost of properties.
“My parents had not made sufficient provision for their retirement. When they could no longer maintain their very large property in a suburb where they had lived for over 50 years, they discovered that their largest asset could barely fund a unit in a retirement complex and that their pension would not cover the levies.
“We used the proceeds from the sale of the house to cover essentials that they could not afford like a new car and hearing aids and then used a small portion to convert a large workshop, laundry and garage into a one-bedroom flat that was far more modern and convenient than their old home.
“They now live rent free, and we will have an asset that we can ultimately let when they no longer need it,” says another Durban resident.
Details matter most
Advice from families that have hunted down homes that are suitable for conversion or perfect to accommodate different generations is plentiful. For the elderly, look for flat properties and make sure that cottages are easy to access and do not have stairs.
The devil is in the detail, especially if there is the possibility that you will later let the property – ensure separate entrances (with their own doorbells) and practical amenities such as washing lines, dustbins and alarm systems.
“In every large city, Tyson Properties has discovered that a multi-generational lifestyle is a growing trend. In South Africa’s current economic climate, bringing parents or young adult children together not only helps with finances and enables family members to share bond repayments, utilities, and maintenance, but makes it easy for families to enjoy joint gatherings with the luxury of being able to retreat into their own private spaces without travelling long distances.
“This is about combining independence and togetherness in the most practical of ways – and many of the large residences in older suburbs are perfect for multigenerational conversion,” Tyson Properties chief executive officer, Chris Tyson concludes.
