The Phenomenon of failing to launch

How do you know you’re working with a professional builder? Select the right builder and you will have a pleasurable experience, choose the wrong builder and it can be a heartbreaking and costly lesson. Find out the seven crucial questions you must ask. Click the book above to DOWNLOAD NOW.

How do you know you’re working with a professional builder? Select the right builder and you will have a pleasurable experience, choose the wrong builder and it can be a heartbreaking and costly lesson. Find out the seven crucial questions you must ask. Click the book above to DOWNLOAD NOW.

Since the 1980’s the number of multi-generational households in Australia has been on the rise.  Particularly in the metropolitan areas of our major cities, it is now estimated that more than 25% of Australians live with two or more generations under the same roof.

There are several factors contributing to the increase of intergenerational households, many of them surrounding the delay of young adults leaving home… or what’s colloquially become known as ‘failing to launch’.

Multi-generational living is increasingly being used as a way to overcome affordability issues as young people rely on their parents for financial support well in to their 20’s and 30’s.

Higher Education

With employers demanding highly educated workers, more and more young people are undertaking post-school studies increasing the number of years they spend in education.  With undergraduate and postgraduate qualifications becoming common, young people are delaying their entry in to the workforce and decreasing their short-term financial prospects.

Other Factors

Higher education is however not the only reason for multi-generational living arrangements.   Other factors seen regularly extending young people’s stay in the family home include:

  • Unemployment and workplace volatility
  • Delayed partnering
  • Health issues, particularly with the prevalence of anxiety and depression
  • cohabitingSustained growth of the Australian property market has also meant that home ownership has become unaffordable for many. This can also be seen through the reduction in the number of first home buyers entering the market.
  • The increase in the cost of childcare has seen many young families identify grandparents as a more affordable alternative.

So if you have a kipper, twixter, freeter or boomerang child you may want to come to terms with the fact they be hanging around for a little while longer.  Or maybe you should be prepared for when they want to return!  In any case contact Perth Granny Flat Specialist to find out how a granny flat might benefit you! (08) 9284 7778

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