Should You Consider Multi-Generational Homes?

Considering multigenerational housing? You're joining a growing trend. 

Recently, 14% of homebuyers were looking for homes that could house multiple generations. This choice isn't just a matter of preference and desire for family togetherness; it's driven by practical needs and shifting family dynamics. 

Here’s a peek into why both first-time and repeat buyers are choosing these homes:

1) Financial advantages for first-time buyers.

A significant 28% of first-time buyers opt for multigenerational homes to afford larger properties, pooling multiple incomes to make this viable.

2) Space for extended family & adult children.

About 23% of first-time buyers need space for adult relatives or children over 18 who haven't moved out. Additionally, 12% are accommodating 'boomerang' children who return home after living independently.

3) Caring for aging parents.

Among repeat buyers, 30% are looking for homes that facilitate caring for elderly parents. This reflects what I believe is a growing sense of obligation toward elder care in family settings.

These figures highlight a significant shift towards homes that support extended family living under one roof. If you're considering this type of home for your unique family needs, I'm here to guide you through the options and find the perfect fit. 

Let’s connect and start exploring your options in today’s real estate landscape!

Source: All in the Family: Multi-Generational Home Buying

Experts: Multigenerational Housing Needs More Support November 15, 2023