By: Helena Kaucheck, Good Oak Real Estate
In recent years, multi-generational living has become an increasingly popular trend, driven by factors such as rising housing costs, longer life expectancies, and the desire for closer family connections. More families are choosing to live under one roof, combining resources and support across generations. One of the top reasons why multi gen living is on the rise is due to financial considerations. There are well over 59 million people in the U.S., approximately 18% of the US population that are living under the same roof as of 2021.
This arrangement offers numerous benefits for buyers, including shared financial responsibilities, the ability to care for aging parents, and providing built-in childcare. Multi-generational homes also foster stronger family bonds while offering greater flexibility in home usage, making them an appealing option for many homebuyers today.
Finding the perfect solution that will fit everyone's needs requires a bit of preplanning. Identifying what matters the most and what can work well with your new home dynamic is key. Here are a few considerations that can help get you started on the path to creating that perfect place:
Look for Flexible Layouts
Buyers should prioritize homes with adaptable spaces, such as finished basements, lofts, or bonus rooms, that can be converted into separate living areas for family members. A home with multiple master suites or separate entrances is ideal for maintaining privacy.
Consider Accessibility Needs
Think about aging family members and look for homes with accessibility features or potential for modifications. Single-story homes, wide doorways, walk-in showers, and minimal stairs can make a home more accommodating for older generations.
Zoning for Future Additions
Buyers should check local zoning laws and neighborhood regulations to see if they allow for future expansions like in-law suites, guest houses, or accessory dwelling units (ADUs). This flexibility can be crucial as family needs change.
Shared Common Areas
Homes with spacious shared living areas like large kitchens, dining rooms, and family rooms are essential for gatherings. It’s also important to have enough separation in these areas to avoid feeling cramped when different generations share the space.
Proximity to Amenities
Buyers should consider homes close to schools, medical facilities, and recreational spaces that cater to all age groups. Being near diverse amenities helps ensure the home serves the needs of both younger and older family members.
Discuss Financial Considerations
Division of ownership may be one of your questions. Will one family own the home completely or will there be shared ownership? Will you need to pool your funds together to purchase the home that best suits your needs?
As the trend toward multi-generational living continues to grow, homebuyers can take advantage of the numerous financial, emotional, and practical benefits it offers. By carefully considering their family's current and future needs, buyers can find homes that foster togetherness while maintaining privacy and independence. Whether it's for supporting aging parents or raising children in a nurturing, connected environment, multi-generational living provides a flexible solution that can evolve with family dynamics over time.
To get started on your family's journey, reach out to me to structure the best plan and solutions for your needs.
source: The Pew Research Center
