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Family ownership maybe coming back

Over the past couple months I've noticed more and more families looking at homes together, not just for their opinion, but to have the whole family living in one household together. Be it to cut the costs of home ownership or to have a live in baby sitter, more and more families are choosing to live together under one roof.

I've had two listings in the last 4 months that the family was selling because they were going to move back in with their parents. They are buying homes that have mother-in-law quarters, as I call them, or even properties with a 2nd home on them.

Has anyone else seen this trend happening? I even am working with a builder that is working on a 24 unit project that is using this as part of their plan. He is building 12 almost duplex homes with one larger, 3 to 4 bedroom sides, connected to a 1 to 2 bedroom smaller unit for parents or children without kids.

I think it is a great idea and can't wait until he is done and the project starts to sell and if you are a family looking for a home, please give me a call anytime.

Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494

Photo courtesy of Meelin

Posted by Todd Clark (Broker) (503)524-9494 (Beaverton, Oregon Real Estate Expert) on 07/13/2008 11:05 PM

Comments (10)

family, parents, kids, house buying, buying, buyers, beaverton oregon real estate, tigard oregon real estate

Originally posted at: Living Beaverton - Your guide to everything Beaverton: Family ownership maybe coming back

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10 Comments on Family ownership maybe coming back

JUL

2008

Todd, you are a good man. Thank you and you are right. Later in the rain~Deb

I have seen it for some time with certain ethnic groups that buy one one and live in it until they get it paid for then buy another. The cycle continues until every family has a home paid in full. Great idea to pool resources.

JUL

2008

Interesting that you brought this up because I went on a listing appointment today in which the parents are moving in with their children. They are building a mother-in-law or casita (small house) for the parents so that the parents will have children close by just in case the parents need help.

Hmmm, Todd, I know all about that! 2 of our sons had to move back in with us, 20 and 22. They lived here for 3 years. Then my daughters had to move back in. Now one is moved out and my newly pregnant daughter moves back in! It is just a revolving door around here. 3 years ago we had to have Nestor's Dad move in after he had surgery. He stayed for almost a year. Now I think Nestor's son will be moving in next year.

Todd, wait until your kids get big enough to move out..and then they DON'T..

I guess I'm just too independent to have ever wanted to move back home. I left at 17 and never moved back in. But, on the other hand..I totally understand if an elderly parent has to move in with a child or a child is going through a divorce and has to for a while.

TODD - I haven't heard of any developments being built like this, but it sounds like a very interesting idea. Most families now require 2 incomes, and those with small children must find childcare. At the same time, many boomers are looking to downsize. Sounds like a perfect combination to have someone to watch the kids and also keep an eye on the parents. I'm working with two brothers looking to buy like this now, but they are first-time homebuyers just trying to find something that is affordable.

Todd - we'll probably see more of this as the baby-boomers retire.

Todd- My neighborhood has many families living together.....economics is just one factor. Cultural factors, and aging issues also contribute to the trend.

JUL

2008

We just started working with two couples that are having parents move in with them as well.

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