Stiltz survey finds that the cost of living crisis is driving a rise in multi-generational living
A new survey by home lift specialists Stiltz Home Lifts has revealed that more than half of UK adults are open to living in a multi-generational household – a growing trend driven by rising living costs and a desire to better support ageing relatives.
The poll of 1,000 UK homeowners aged 35-54 found that 86.6 per cent of people said the cost of living crisis is making multi-generational living more appealing, while 88.3 per cent would consider making home adaptations to allow a relative to move in.
With inflation pushing up everyday costs and care home fees continuing to rise, many families are weighing the financial benefits of combining households. 41 per cent of people said they would move an elderly relative into their home specifically to avoid the high costs associated with residential care.
On average, full-time care facilities charge around £65,832 per year, or £1,266 each week, an increase of 88 per cent compared to prices in 2020.
The findings also suggest that far from being a last resort, multi-generational living is being seen as a lifestyle choice with emotional benefits. According to the survey, 70.6 per cent believe living with extended family strengthens family relationships and 60.1 per cent of people would consider moving in with family members.
Mike Lord, CEO of Stiltz Home Lifts said: “Research very clearly suggests that families are rethinking the way they live, whether it’s to provide care for ageing parents, support younger generations financially or simply stay more connected.”
Stiltz stated that it commissioned the survey to better understand the evolving needs of modern UK households and how families are reshaping the way they live.
Earlier this year research commissioned by Stiltz revealed that while the majority of older adults in the UK want to stay in their homes as they age, many feel that the support they need to do so is lacking.
