Have you noticed a shift in how families are choosing to live together? The trend of multigenerational living is on the rise, and it’s at its highest level ever recorded by the National Association of Realtors!
More families than ever before are choosing to share a home across multiple generations, and there are some compelling reasons why.
What Is Multigenerational Living?
A multigenerational home is when multiple generations of a family—whether parents, adult children, or even extended relatives—live together under one roof.
While historically, caregiving for aging parents was the primary reason for this type of living arrangement, today, another major factor is driving the trend: affordability.
Why Are More Families Choosing Multigenerational Homes?
1. Financial Benefits
With rising home prices, buying a home has become more challenging for many families. Pooling resources allows families to split costs like the mortgage, utilities, and maintenance. This makes homeownership more attainable and even opens up opportunities to afford a larger home with more space and amenities.
2. Stronger Family Connections
Beyond finances, multigenerational living fosters closer relationships. It provides daily opportunities to create lasting memories, share responsibilities, and support one another—whether it’s helping with childcare, assisting aging parents, or simply enjoying more quality time together.
3. A Smart Solution in Today’s Market
With limited options to improve housing affordability, purchasing a home with family members is becoming an increasingly attractive solution. It’s a way to stretch your budget without sacrificing comfort or convenience.
Is Multigenerational Living Right for You?
If you’re feeling the financial strain of homeownership or want to create a closer, more connected living experience for your family, a multigenerational home could be the perfect solution.