With current housing trends pointing towards a continued uptick in multi-generational living, properties with annexes and out-houses are increasingly becoming much sought-after commodities.
A symptom of a much wider demographic shift - the Granny Annexe’s no-longer-niche appeal is certainly telling of the times, and it is inevitably helping create an upwards pressure on what has until recently, been a selectively-appealing corner of the upper-end property sector.
To this end, it comes as no surprise that the introduction of this extended property in Maidenhead to the market, has so far been met with a high degree of interest among local buyers motivated by the advantages of multi-generational living.
What are the benefits?
In the current economic climate, removing the need and cost of elderly care is just one consideration behind the mainstreaming of generations of families living together.
The growing percentage of older relatives who account for multi-generational setups (a figure which grew from 9% to 14% between 2016 and 2020) is also owing to the increasingly important role that grandparents are playing in enabling parents to balance childcare and work.
Similarly, the common conundrum of older children returning from university and being unable to afford rising rents, coupled with the rise of hybrid working and the ‘race for space’, has meant many home-owners have been strong-armed into upsizing where they might not have considered such a move previously.
Of course, it goes without saying that this approach also has ever-appealing commercial motives, especially as a self-contained living space represents an invaluable potential extra income stream in these financially challenging times.
ABOUT THE PROPERTY
With its own 2/3 bedroom annexe (Dormy Cottage), this substantial four bedroom property is perfectly suited to home-buyers looking for an additional space to accommodate their lifestyle, familial or financial needs. It’s size and proximity offers an all-important opportunity for independence, whilst also sharing in the advantages of a popular residential location, generous rear garden, ample parking and easily accessible transport links.
Summary
For those contemplating any form of move in the near future, there will inevitably be some degree of curiousity as to what extent the property market has been affected by the anticipated declines forecast in the latter part of last year.
Luckily, property experts are today predicting that the latest rise seen in the base rate is likely to be one of the last, with the market now transitioning towards normal activity levels, and mortgage interest rates remaining relatively low by historical standards.
These greater-choice, slower-pace conditions are certainly a welcome change from the stressful ‘best bid’ scenarios of the Pandemic years, and are generally much more conducive to the process and complexities of making a multi-generational move.
For more details on this or similar properties please contact Braxton on 01628 674234 or email property@braxtons.co.uk