COVER STORY
Reasons why (and why not) to share the home JULIE LAKE speaks to the parents and grandparents who have experienced the best and worst of situations after deciding to experience multi-generational living and move in with younger family members.
T
he very term “granny flat” says it all really – the idea of a sweet old lady going to live with one of her devoted children in a cosy space of her own, safe and secure, grandchildren at her knee. But just how often does the reality fit the popular image? Paul Christensen loves being a live-in grandfather. Single since his divorce many years ago he recently sold his home and moved in with his son’s family. “Best thing I could have done,” says Paul, adding that interacting with his
three teenage grandchildren keeps him young. “I had a house that was too big for me and expensive to run, they have a large house with a guest suite they don’t need. Works for all of us.” Gabrielle Peake also sold her home and moved in with one of her children, but in her case it didn’t work out so well. Her main reason for moving was that her health was deteriorating, she was no longer able to drive and she thought she could count on family support in her old age.
She put her money into building a small extension to the already-large house to give herself independent living – but did not bother with any sort of legal agreement. At first all was well, but the house was in the country, a long way from shops and Gabrielle’s old friends and community – so she was dependent on family members for transport. “When they suggested I move in with them they told me this wouldn’t be a problem,” Gabrielle says now. “But soon they began to begrudge running me around. And they were away a lot, leaving me isolated.” Then her daughter and husband divorced, the house was sold and Gabrielle’s investment was not recognised, nor legally provable. So, without sufficient money to buy another home she now rents a unit back in her old community – and is increasingly dependent on government assistance. Despite the obvious risks, many older Australians choose to live out their final years in granny flats – as many as one in five according to a University of New South Wales study. This is particularly the case for those who, through death or divorce, find themselves alone. The benefits can be financial, such as selling your home and downsizing to a small dwelling, thus freeing up capital and/or making your pension/retirement income go further. Or social, such as being close to your grandchildren and having family to care for you in-house in your older age. Multi-generational living was the way we lived up until a century or so ago
and its appeal – and advantages – have never quite died out even with the emergence of the financially affluent nuclear family. Problems can arise when one or other of the parties involved wants to end the arrangement. This might be because of remarriage by either party, financial difficulties or any other reason leading to the sale of the main house, the ageing parent/s needing residential age care facilities, or just the constant friction that can occur when more than one generation is sharing a living space. One person interviewed for this article said that he opted out when his son and wife decided to go overseas for a year and let their shared home to strangers. Another said she’d been happy in her granny flat while her grandchildren were small but when they became teenagers they were noisy, inconsiderate and kept borrowing her car. The bottom line is that however close the family ties, anyone contemplating a granny flat arrangement should get legal advice and put a signed, legally-binding agreement in place so that all interests are properly protected. This is vital if you (as the parent) have contributed funds to create a granny flat situation, either by modifying a home, adding to it or buying a suitable property in your children’s name, in return for a lifetime right to live there. Or even selling/gifting your home to your children and retaining the right to continue living there in your own quarters. Your financial interest must be
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Phone: 07 5493 8038 | www.scorthogroup.com.au 4 YOUR TIME MAGAZINE / March 2022
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