Living together, living individually: co-living and intergenerational housing as living concepts

In the morning, the grandmother takes her granddaughter to school; in the evening, the son does the shopping for his parents. One floor up, everyone lives their own life again. Or: three working professionals share a kitchen and living space, but each has their own private retreat. What may sound different is based on the same idea: living together whilst still maintaining individual lifestyles. Alongside the traditional owner-occupied home, such flexible living concepts are attracting increasing attention. “We are seeing that the demands placed on living space are changing. There is a growing demand for flexible floor plans and properties that can be adapted to different stages of life and living arrangements,” explains Thomas Graf, an experienced Berne-based estate agent.

Co-living: private living, shared facilities

In co-living, residents have a private retreat whilst sharing the kitchen, living space or workspaces. This model can be particularly appealing to people who are living in one place for a limited time or who are actively seeking community, such as young professionals, digital nomads or expats. The advantages of co-living are:

• Flexibility: Depending on the offering, furnished units and flexible tenancy periods make moving in and out straightforward.
• Community: Shared spaces create opportunities for interaction and socialising.
• Space efficiency: Shared kitchens, living areas or workspaces can help make more efficient use of available space.

Intergenerational housing: living together yet independently

In a multi-generational home, people of different age groups live under one roof – often within the same family. They can support one another in everyday life whilst still having their own living spaces. For this to work in the long term, the layout must allow for both community and privacy. Particularly in the case of spacious detached houses, a multi-generational concept can be an interesting alternative to selling the property or moving house. However, this is conditional on the property being suitable for structural adaptation. Separate entrances, sufficient bathrooms, access to the different floors, privacy and any planning regulations should therefore be assessed at an early stage.

Clearly define financing and ownership

In shared living arrangements, financial and legal issues should be clarified from the outset: Who finances which investments? Who owns which part of the property? How are running costs shared? And what happens if one party wishes to leave? Depending on the project, different ownership and financing models may be suitable. If, for example, a property is divided into flat ownership, clear rules on use and responsibilities are particularly important. In the case of family projects, inheritance law issues should also be taken into account at an early stage. What happens to the property in the event of a death? How are siblings or other heirs involved? It is better to clarify such issues before any concrete investments are made. For matters relating to tax, inheritance law and financing, it is advisable to seek individual specialist advice.

Is the property suitable for the concept?

Not every property is equally well suited to co-living or intergenerational living. In addition to location and size, the floor plan, potential conversions and the structural condition of the building play an important role.

“Anyone wishing to buy a property for such a project should therefore also assess its development potential,” explains property expert Thomas Graf: Can separate units be created? Are there sufficient communal areas? What investments would be required? A professional assessment helps to realistically weigh up the opportunities and the effort involved. Equally important is the question of how structural alterations affect the value and future marketability of a property. Not every technically feasible solution makes sense from a property market perspective. An early assessment of potential uses, investment requirements and marketability can therefore help to avoid wrong decisions.

Expert property knowledge from a single source

Whether it’s co-living, a multi-generational home or another form of housing: it is crucial that the property, financing and usage concept are well aligned. The team at thomasgraf ag is happy to advise you in Bern, Zurich and Zug with any enquiries regarding the sale or purchase of a property. thomasgraf ag is a certified member of the Swiss Chamber of Estate Agents (SMK). Thanks to our close cooperation with the asset manager and family office service provider TRIONINVEST and the financial services provider hypolino ag, we offer you a combination of property-specific and financial expertise, many years of industry experience and a strong network.