Families are coming back together again! Experts say with life expectancies increasing, baby boomers retiring, and the shift in the economy we are seeing a nationwide shift in the reuniting of extended families. Many people are faced with the rising cost of caring for aging parents and/or childcare for dual-income homes. Healthcare costs are rising and many retirees simply do not have enough saved for retirement and private living. In addition, '20-somethings' are living home longer or boomerang back and forth.
I am currently seeing the trend in my own business as I am working with both buyers desiring such an arrangement and sellers who have successfully consolidated households.
While this living situation may not be for everyone, many are exploring the option. Those who have made the shift are benefiting from many positives such as stronger family bonds, generations caring for one another, and shared living expenses easing financial burdens.