Ever thought about living in the same house with your grandparents, parents, or other loved ones? You’re not alone. A lot of people are choosing to buy multi-generational homes where everyone can live together. Let’s check out why they think it’s a good idea to see if it might be a good fit for you, too.

 

Why People Are Choosing Multi-Generational Living

According to the National Association of Realtors (NAR), here are just a few key reasons buyers opted for multi-generational homes over the past year (see graph below):



Two of the top reasons had to do with aging parents. 27% of buyers chose multi-generational homes so they could take care of their parents more easily. And 19% did it to spend more time with them. A lot of older adults want to age in place, and living in a home with loved ones can help them do just that. If your parents are hoping to do the same, but need a bit of help, a multi-generational home may be worth considering.

 

But buying a multi-generational home isn’t just about being close or taking care of the people you love—it can save you money, too. 22% of buyers say they picked a multi-generational home to cut down on costs, and 11% needed a bigger house multiple incomes could afford together.

 

Sharing costs like the mortgage and utilities can make owning a home more affordable. This is especially helpful for first-time homebuyers who might find it challenging to buy a place on their own in today’s market.


As Axios explains:

“Financial concerns and caregiving needs are two of the major reasons people live with their parents (and parents’ parents).”

How an Agent Is Key in Finding the Right Home for You

Finding the ideal multi-generational home presents a unique set of challenges compared to selecting a standard house. With multiple generations under one roof, there's a plethora of perspectives and requirements to consider. It's akin to assembling a complex puzzle, where each piece must seamlessly interlock to create a harmonious living environment for all involved.

 

Yet, amidst the complexities, the journey towards finding the ideal multi-generational abode also offers a unique opportunity for synergy and connection. It's a chance to foster deeper bonds between family members, sharing not just physical space but also experiences and memories. With thoughtful planning and a commitment to open communication, the multi-generational home becomes more than just a residence—it becomes a sanctuary where generations unite and thrive together.


Bottom Line

Whether you’re planning to buy your first home, or you’re ready to move into a different one to meet your changing needs, think about the emotional benefits that can turn a house into a happy home. When you are ready to make a move, connect with Stuecher Manning Group.

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Source: keepingcurrentmatters.com