Demand Rises for Multi-Generational Homes

Real Estate Agent with Dale Corpus Real Estate powered by eXp Realty BRE# 01305153

While not the norm in America, multi-generational homes have been commonplace in several countries. America may be jumping on the bandwagon, or at least homebuilders are. Over the last few years, these multi-generational homes have become more and more popular as homes are adjusting to the growing generational convergence in this country. Many home builders such as Lennar and Toll Brothers are constructing homes with larger footprints, single story and most importantly, a separate living quarter on-site. Multi-generational homes

These homes have the typical layout of a traditional home with a seamless add-on usually consisting of a one-bedroom apartment complete with small kitchen, dining room and living room. The addition has a separate entrance but also a private entrance into the rest of the house yet from the outside, it looks like one large home. 

The reason for these homes could be a myriad of needs such as an ailing parent that needs to live with their children but still be independent, college age students or separate studio for an at-home business. This type of living situation may be common in other cultures it's still unusual here. However, after the recession, as well as the increased longevity of Americans have spurred this demand for homes that accomodate several generations. Lennar called their homes "NextGen" models and has sold more than 3,000 of these in 13 states. [Source]

Higher expenses, recent grads and retirees all are looking at these homes as a relief for either short term or long term. According to the NAR, the biggest reason were cost savings and children moving back into the home. 13% of all home purchases in 2014 were by a multi-generational household. This is double the number since 1980 of people living in a generational home. 

Other intents are for bringing an aging parent into the residence and only 7% purchased these home to make it easier for adult children to live there. 

Flexible floor plans are key when designing these types of homes. This extra space is a unique addition to the housing market allowing a wide range of options from second residence to office or studio. Homeowners can do so much with the design that it's really appealing to far more than just multi-generational buyers. 

For more information on NextGen homes or similar homes in the San Ramon or Livermore area please contact me at anytime. I'd be happy to send you a list of these properties in your area.

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Comments (4)

Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Nextgen homes are in huge demand in Southern California. I believe it will also be a hit in Northern California due to land constraints?

Oct 01, 2015 04:02 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Dale - I think we will continue to see more of these multi-generational homes being built and sold in the coming years. We are already seeing a lot more of these here in Arizona.

Oct 01, 2015 05:56 PM
Dale Corpus
Dale Corpus Real Estate powered by eXp Realty - San Ramon, CA
Realtor - San Ramon, Danville, Dublin & Pleasanton

Les & Sarah Oswald yes for sure! NextGen is taking over! 

Oct 05, 2015 02:57 AM
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Houses that are conducive to multi-generational living will become more popular. "Aging in place" support systems means more families will be looking for homes that will be conducive to accommodate aging parents.

Sep 15, 2017 08:54 PM