Economic and Emotional Benefits of MultiGen Homes

By
Real Estate Broker/Owner with ViewHomes of Clark County - Nature As Neighbors

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.

Sharing Responsibilities  

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.

Emotional Benefits

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. 

 

 

Posted by

 

ViewHomes™ grew out of our passion for nature, beautiful surroundings, and peaceful environments. Starting together in an urban environment, over the years we've gravitated towards areas with smaller populations and less density. We now enjoy our lifestyle in a rural environment, but with close proximity to metropolitan areas where we appreciate all the amenities of fine restaurants, shopping, and an easy drive to an international airport.
Living in ViewHomes™ is like having “elbowroom for the soul”.

 

360-608-4900 

info@natureasneighbors.com
 

                                                                             

 

Comments (55)

Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi Beth Atalay I'd have a hard time giving up a waterfront condo too! :) Thanks so much for the feature. D 

May 12, 2020 11:16 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Sam Shueh you are so correct. And, now it's coming back.  It does make great sense and keeps the elderly from having their bank accounts depleted by expensive nursing facilities. 

May 12, 2020 11:17 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi there Dörte Engel  


Yes, you are so correct. We get along well, but there was a period of time when we thought "uh oh."  Good communication and better boundaries saved the day. Lol 


 

May 12, 2020 11:22 AM
Deb McGuire CNE, ABR, SRS
Keller Williams Capital Partners - Columbus, OH

Great article.  I envy those who live in multi-gen households!

May 12, 2020 06:08 PM
Anne Corbin
Long and Foster - Lake Anna - Spotsylvania, VA
Serving Lake Anna & Central Virginia

This summer, my household will become a four generations under one roof home!

 

May 12, 2020 06:33 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

I've spent much of my life living in a multi-gen home and it never occurred to me that there was anything odd about it. After I was married and had kids we lived separately - until our house burned down. Then, for a time, my husband, my children, and I lived with my Mom and my Grandmother.

I think it was wonderful for my boys. They spent hours playing cards, doing puzzles, reading books, sharing TV shows, cooking, sewing, and even learning to crochet because they were taking part in what Mom and Grandmother were doing.

My younger son even learned to be a good bartender - taking Grandmother her wine at 3:00 every afternoon.

Not all that many years ago, multi-gen households were the norm - and I think they're a very good thing.

May 12, 2020 09:05 PM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Multi-generational homes are something I'm seeing being re-visited more often in our Chicagoland area, Debb Janes EcoBroker and Bernie Stea JD ...  sometimes driven by need, other times driven by want.  It's typically a "win-win" situation for all parties involved.  I suspect, given the current economy, we'll be seeing even more in the future ...

Gene

May 13, 2020 08:34 AM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

All of your points are spot on. There is a growing need for multi generational homes--accessory dwellings so each can have some privacy, but still be close by.  

May 13, 2020 08:47 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Thanks, Deb McGuire CNE, ABR, SRS . It's working for us. 

May 13, 2020 11:51 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Oh Anne Corbin - lucky you! 

May 13, 2020 11:51 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

How cool, Marte Cliff  - I love the bartender aspect. Lol. 

May 13, 2020 11:52 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi  we are on the same page. I too suspect we'll be seeing more demand for it. D

May 13, 2020 11:52 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Mary Hutchison, SRES, ABR - oh boy, having space and privacy is a big one.  I agree, and optimally with two separate homes. 

May 13, 2020 11:53 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Great post!  It's no wonder production bulders are starting to build homes to accomodate multi-generational households.  I love looking at those floor plans, imagining how that would work.  

May 13, 2020 02:37 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Debb and Bernie:

I think you've covered all the positives about multi-gen living, and along with your personal experience are the right Realtor to call for help in your area...along with educating the rest of us who do not have your knowledge and experience.

We are seeing more homes marketed as multi-generational, and some builders are creating homes that can fulfill this need as well.

Thanks for an interesting and informative read, and a well deserving feature!

Jeff

May 13, 2020 03:38 PM
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

Muti-gen homes has existed for decades, so, It depends on your culture and lifestyle. Many Asians for example not only live with other family members but also rent out space to other people and some profit enough so the mortgage is paid from the rental income. Other cultures have also accepted the practice of this lifestyle. however, when your freedom is priceless, that lifestyle won't be tolerated under any circumstances.

May 14, 2020 12:39 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Debb Janes EcoBroker and Bernie Stea JD - we have learned the benefits on multi gen.  These past two week we have stay with my daughter, son in law, and new grandson and my other daughter is with us too.  We all eat together while getting our work done during the day.

May 14, 2020 08:43 AM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

There is something great about multi generations getting together and I just hope that we can get back to it soon after Covid.

May 14, 2020 01:55 PM
Gail Smith-Bibb
Gwen Fowler Real Estate - West Union, SC
A tradition of trust

Yes! Back in the 90's when I worked for a general contactor building luxury lakehouses, most had an in-law suite and they proved useful and improved the resale. I definitely think that is a plus for anyone thinking about building. Or at least for my neck of the woods!

May 15, 2020 12:57 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Debb Janes EcoBroker and Bernie Stea JD - While there are many wonderful places to go, things to see, and great adventures, at the end of the day, there's no place like home. Knowing that family members who are elderly are not alone is a challenge for many people. During these troubling times of the pandemic, there's no place I'd rather be than with loved ones. For many seniors, this isn't even an option. Family first. I believe that with my whole heart and my soul, family members have a duty and responsibility. Multi-gen homes makes sense. In the big scheme of things, when it comes to cost, worries, safety, food, shelter, sense of belonging, medical care and assistance,  the benefit is greater than the cost. 

May 16, 2020 05:39 PM

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