Unlock the full value of your multigenerational home

As the cost of living bites home, home ownership in Australia is becoming increasingly out of reach for many homebuyers, so families are turning to more efficient ways of living.

One sensible approach is multigenerational living, which is gaining momentum as families look for ways to pool resources and share living costs.

According to the Reserve Bank of Australia, household sizes are starting to increase again, after shrinking during the pandemic when group households split up.

This trend suggests that more families are moving back in together to cope with rising rental costs, low housing supply, and economic pressures, and for sellers, this is good news.

LocalAgentFinder has been on the front foot identifying this trend and has set out some advice for sellers to achieve a better result for their property.

They advise that understanding this shift and marketing your property to appeal to this growing segment, you can attract a wider pool of buyers and potentially sell your home faster and at a different price point.

If you own a home that could be ideal for multigenerational living, LocalAgentFinder have provided some key strategies to help you position and market it to the

right buyers.

If you’re selling a property that is suitable for multigenerational living, it’s important to showcase the features that set it apart from traditional homes.

Here are key strategies to help you highlight the benefits and appeal of your property.

Multiple living areas

Buyers looking for multigenerational homes are often seeking privacy for different family members. Emphasise the distinct living spaces in your home, such as a separate family room or extra lounge area, which can provide comfort and independence for each generation.

Dual kitchens or kitchenettes

If your home has more than one kitchen or kitchenette, highlight this feature as a significant selling point. Dual kitchens offer flexibility for families who may want to prepare meals separately, making the home more convenient for larger households.

Separate entrances

Homes with separate entrances for different living spaces can attract buyers seeking privacy within a shared household. Highlight this feature in your marketing to appeal to families that want independent spaces while living under the same roof.

Granny flats or in-law suites

If your property includes a granny flat or a self-contained in-law suite, promote it as an ideal solution for elderly family members or extended family. These features increase the versatility of the home and make it more attractive to multigenerational buyers.

Accessibility features

For homes adapted for aging in place, such as those with wheelchair ramps, wider doorways, or step-free showers, make sure to emphasise these features. They are especially important for families caring for aging parents or family members with mobility issues.

Energy efficiency

Larger households often face higher utility bills. If your home includes energy-efficient appliances or solar panels, promote these features as a way for buyers to reduce their long-term energy costs.

LocalAgentFinder says working with a real estate agent who understands the market for multigenerational homes can help you effectively market your property.

McGrath Estate Agents director Sam Parsons said multigenerational living was an important consideration in buying or building a home.

“I’ve always suggested to anyone building a double-storey home to ensure they place a master suite on the ground floor and also on the first floor.

“As land allotments are getting smaller, homes are getting larger and it’s becoming more common to build a double-storey home.

“The dual master suites provides flexibility for growing families and in new communities we are seeing more new home builders designing multi generational homes .

“A recent sale we participated in that had multi living options recently achieved a suburb premium due to the ability to have both a family and grandparents living at the same property.”