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Multigenerational Households
March 22nd, 2016 10:31 AM

 

Barbara’s Blog:

Multigenerational housing is making a comeback.  In 1940, nearly a quarter of the country lived in a home that included more than two generations.  Those numbers hit an all-time low in the 1980s, but have continued to rise each year since.

During the past 10 years, a record number of parents with small children moved into their parents’ homes, creating three-generation households.  Those households are very different from the past, where elders moved into a bedroom in their children’s homes.  Today the grandparent is usually the head of the household and owner of the home.  Many young adults struggled to launch their adult careers following the recession that began in 2007.  Due to underemployment, they returned to their family homes and many are also marrying later and staying in their family home longer. 

Despite this increase, members of every generation believe there are positive results to this trend.  With a large percent of older adults reporting the desire to age in their own home, the availability of caregivers is present.  There are shared costs with the mortgage or upkeep of the home; there is a sense of more security and the home can be an asset left to the younger family members.  Older adults feel as if they are contributing to the good of the family and have a purpose in life.

Architects and remodelers report a surge in changing and remodeling adult family homes to better accommodate multiple generations.  Home builders are creating “homes within homes”, where the elder family members have their own private main floor retreat away from the family.  Some have their own entry, outdoor space and garage. 

A “sign of the times” is that of multiple generations living under one roof once again and it may be the answer to a shortage of affordable housing for many. 

Written by Barbara Doeringer


Posted in:Real Estate
Posted by Allen Doeringer on March 22nd, 2016 10:31 AMPost a Comment

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