If you’re among the families considering multigenerational living, you are not alone. Demand for homes to accommodate multiple generations is growing.
Middle-aged home owners who might have expected to be empty-nesters by now are sometimes finding that their plans are shifting to allow an aging parent or adult child to move in with the. In some cases, they may even be supporting senior parents and adult children at the same time. We call these people members of the “sandwich generation.”
While you may not have origiinally planned for multigenerational living, it's not all bad news.
The benefits to multigenerational living
Financially, there can be benefits to combining the generations into one family home rather than lending financial support while living separately.
- Maintaining a single home is more cost-effective than supporting multiple homes.
- Less driving is required to check on aging parent(s), saving time and money.
- Selling, renting, or leasing a too-small house that belongs to one family member might help finance a larger home for the group or remodeling an existing home.
- The arrangement may result in reduced cost for child care and/or elder care.
If you're considering selling your home and seeking out multigenerational living accommodations, I invite you to visit homevaluesca.com to find out what your current home is worth on the market, and please visit my website navigatingyourmove.com for more information about home listings in the region.
By embracing multigenerational living, you’ll not only be able to pool your family's resources, you'll also have the peace of mind that all of your family is safe and secure.