Multigenerational households consist of three or more generations of parents and their families. With the fall of the economy and so many people losing their homes to foreclosure, multigenerational homes are definitely increasing. Many people are being forced to move back into their old bedroom at their parent's house. This household structure is allowing families to come together, and overcome the high cost of living and housing.
According to a recent AARP Bulletin study, the number of multigenerational households climbed from 5 million in 2000 to 6.2 million in 2008. With unemployment steadily increasing, the number of multigenerational households will continue to increase as parents and children pool their resources and their households.
The future first-time homeowners will be older because the new credit requirements will require them to save more and longer for their house. Not only will they need more to purchase a home, but the size of the home will be a lot smaller. Future homeowners will purchase homes that they can afford and will be less wasteful.
The needs of multigenerational families may have a significant impact on how future homes are designed. There will probably be more bedrooms, in-law suites, and casitas, which are small detached houses and apartments. In order to have more space to accommodate the family, there will be fewer walk-in closets. Also, future homes will either have a living room or family room, not both. Homeowners will eliminate one of the rooms in order to gain a bedroom.
Are you looking for a Lehigh Valley home that can accommodate your multigenerational family? Visit donwenner.com for the best properties in Bethlehem, Easton, or Allentown.
Comments(3)