Economic and Emotional Benefits of Multigenerational Homes
During these times of economic upheaval, many families are finding themselves sharing a home with other adults. While this is certainly one way to weather a financial crisis, there are also emotional benefits that can last long beyond the quarantine.
Most of our multigen families chose to live together in order to spend more time with each other. Or, to take care of an ailing, or aging, family member. The latter is why we all chose to live under the same roof. We’ll spare the details, but if you’re interested, you can learn more about us here.
We recognize instability in the job market, and investment portfolio losses won’t last forever. However, if you’re looking for a better way to weather the current times, sharing housing with other family members might be the answer. It’s possible, you’ll also discover the many joys of living life with the people you love.
So, What Exactly is “Multigen”?
First of all, let’s establish the definition of a multigenerational home. It’s a house where adults of two or more generations live together. In our experience, it often means middle-age or senior adults with one or more adult children. At times, there’s the addition of young children or grandchildren.
While some might think it’s unusual, consider that nearly 20 percent of Americans live in multigenerational homes. The economics of sharing a household make good sense, but there are many other benefits to this lifestyle.
Peace of mind
Stay-at-home orders and an inability to visit nursing homes and care centers have kept people from seeing their elderly family members. We are so grateful 93-year old mom is here with us. No worries as to how she’s holding up emotionally, or physically. She’s doing great.
Adult family members can split the chores and the errands. In our case, with two adult couples caring for mom, we also split the cooking chores. Mom gets to eat out at different households during the week. Variety is always good !
Security and Built-in House and Pet Sitters
Right now, we’re home most of the time. However, under normal circumstances, when we travel, my sister and her husband take care of mom and keep the household running. Conversely, they are free to do the same.
Having people you love and enjoy being around is a bonus. There’s no need to feel lonely when you live in a multigen home. Shared movies, meals, and talks around the fire pit. And, in our situation, it was an honor to share the last years of my father’s life. We have no regrets.
The Bottom Line
There are many economic and emotional benefits of multigen living. If you’re interested in learning more, we’d be happy to share our experience and expertise. We are the only REALTORS® in Clark County who specialize in Multigenerational Homes and Lifestyles.