Page 26 - Business Sense-11.4 - KZN Top Business Awards Supplement -EBOOK

Bryanston
MULTI-USE, MULTI-
www.tysonprop.co.za/results/residential/for-sale/sandton/bryanston/house/2480325/
GENERATIONAL HOMES

THE NEW NORM

Shirley le Guern preferably with separate entrances they could not afford like a new
so that they don’t wake their parents car and hearing aids and then used
he so-called granny flat of old when arriving home in the wee a small portion to convert a large
is still in demand – the only hours and can entertain friends. workshop, laundry and garage into
Tdifference is that in today’s “Our decision to accommodate a one-bedroom flat that was far
world it is no longer reserved just my parents was based on two more modern and convenient than
for grannies! critical factors – security and their old home. They now live rent
free, and we will have an asset that
First came the trend for families finances. When we realised we can ultimately let when they
to relocate to residential estates that our current small property no longer need it,” says another
followed by the Covid-induced was not suitable for building a Durban resident.
work from home trend. Now, flat for my parents, we began
Tyson Properties is seeing free- looking elsewhere in the same Advice from families that
Duban North standing homes and larger neighbourhood. Just five years ago, have hunted down homes that
www.tysonprop.co.za/results/residential/for-sale/durban-north/durban-north/house/2683547 are suitable for conversion or
properties being snapped up for a there was very little in Westville
multitude of different uses – from with most options being cold and perfect to accommodate different
accommodating elderly parents dilapidated converted servants’ generations is plentiful. For the
or adult children to earning quarters of old or poky add-ons. elderly, look for flat properties and
supplementary incomes as rentals Although we relocated less than make sure that cottages are easy
or AirBnB’s. a kilometre from our home, we to access and do not have stairs.
found a property that was flat and The devil is in the detail, especially
Yunus Randeree, a property large enough to build a suitable if there is the possibility that you
professional at Tyson Properties will later let the property - ensure
Morningside, Durban has stand-alone flat that would add separate entrances (with their own
experienced this first hand: “Houses value to the property whilst giving doorbells) and practical amenities
suitable for multi-generational us peace of mind that my parents such as washing lines, dustbins and
families are coming onto the were safe and had help on hand alarm systems.
market in our area regularly. In for medical emergencies,” said a
fact, I’m selling more free-standing Cowies Hill homeowner. “In every large city, Tyson
homes than ever before.” A Westville resident just across Properties has discovered that a
multi-generational lifestyle is a
He notes that the family who buys the road has bought a large family growing trend. In South Africa’s
a property for the extended family home and is renovating the garden current economic climate,
also looks at the land the home sits cottage for one set of parents and bringing parents or young adult
on – to consider all the options. Is building another to accommodate children together not only helps
there room to build on a cottage for the other. The latter travel and have with finances and enables family
East London parents, can the home be renovated a lock up and go option with their
www.tysonprop.co.za/results/residential/for-sale/east-london/abbotsford/freestanding/2805116/ members to share bond repayments,
or is it better to demolish and build children stepping in to take care of utilities, and maintenance, but
a new home on the land? pets when they pack their bags. makes it easy for families to enjoy
“These buyers will typically view a Although generations sharing joint gatherings with the luxury
property three or four times before homes was common and even a of being able to retreat into their
they make an offer to purchase. tradition in certain communities own private spaces without
They will bring in architects and in the past, this is now far more travelling long distances. This is
designers upfront to determine if universal given the cost-of-living, about combining independence
the home can be changed and given high unemployment, and the rising and togetherness in the most
a good flow to suit everyone in cost of properties. practical of ways – and many of the
the family. The majority of buyers “My parents had not made large residences in older suburbs
want modernity and entertainment sufficient provision for their are perfect for multigenerational
spaces and gardens are key. Onsite retirement. When they could no conversion,” Tyson Properties CEO,
parking is also critical,” he says. longer maintain their very large Chris Tyson, concludes. 
Randeree continues that both property in a suburb where they www.tysonprop.co.za
personal and private space for each had lived for over 50 years, they
of the generations is important. For discovered that their largest asset
example, grandparents need to have could barely fund a unit in a
ease of access to their grandchildren retirement complex and that their
– but also have their own ‘space’. pension would not cover the levies.
Students and adult children also We used the proceeds from the sale
Western Cape need to have their own spaces, of the house to cover essentials that
www.tysonprop.co.za/results/residential/for-sale/cape-town/kenilworth/house/2804648/

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