multigenerational homes are trending

Multigenerational Homes Are Trending

The Covid-19 pandemic certainly changed the world. It has also shifted the way many view the importance of family. The idea of multi-generations living in the same house continues to gain popularity. However, multigenerational living arrangements do present both benefits and challenges.

What is a multigenerational home?

Multigenerational living space is built to house more than one generation of a family. These homes are getting popular because they are practical for families who could benefit by living together under one roof. The rising costs of living, housing prices and limited real estate are also big factors in the growing trend. Today, as many as 20% of American families live in multigenerational homes.

A multigenerational house usually contains grandparents, parents and children. The most common floor plan provides living and sleeping “suites” for each generation. There are usually common areas for eating, cooking, laundry and storage. Separate floors for the generations are great, but not always possible. Privacy is important; so is the opportunity for time together.

Benefits of multigenerational living

Some of the reasons to try multigenerational living include:

  • Grandparents want to share in childcare.
  • More time together builds family ties.
  • It’s easier to help relatives with special needs.
  • Aging parents can live with adult children.
  • Adult children can move back into their parents’ homes.
  • It’s safer because there are more chances someone is home.
  • It offers economic help because costs can be divided.
  • The owners need only one mortgage.

Possibilities of multigenerational living

You and your family may have experiences you never expected as part of the joy of multigenerational living.

  • Grandparents and grandchildren will get to know one another intimately, by spending more time together. They won’t just be visitors.
  • Family recipes can become family treasures. Grandparents can pass ideas on to the younger ones.
  • With the trials of parenthood and adolescence over with, both generations can discover the joy of loving adult relationships.

Challenges of multigenerational living

However, some parts of the lifestyle can present challenges:

  • There’s likely to be more noise. Look for simple solutions (e.g., carpet is quieter than hardwood). Make sure there’s a calm space somewhere.
  • Sometimes there’s too much unsolicited and unappreciated advice, especially about raising the kids. You will want to talk about this and set some boundaries.
  • It can be messy. Having defined, separate spaces helps. Clear lines of responsibility for chores are essential, too.
  • High tech, in general, can take time to adjust to for some people. If you have a smart home, make sure the new occupants get help in understanding how it works.
  • You may need to add accessibility features that don’t match everyone’s design aesthetic. Grab bars and stair rails go a long way to help the older generation or family members with mobility needs fit in.

In the end, this kind of living offers tremendous benefits. Additionally, the challenges can be overcome by discussing them with your family.

Buying a multigenerational home

Multigenerational homebuying is not the same as shopping for a single-family home. There are many factors to consider — space and layout being the top. Ideally, the whole family should be equally involved in the process.

Want to know how much home you and your family can afford? Your First Centennial Mortgage loan officer can help you begin the process. Talk to us today about loan options if you’re thinking of buying a multigenerational home.

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