Home Buying March 14, 2022

Is a Multigenerational Home Right for You?

It’s a normalized custom for families to begin living separately as they progress with their lives. Kids move out once they reach a certain age to pursue their careers and maybe even start their own families, while the parents continue to live in their home. This is what it’s like in most households.

However, some families choose to stay together under one roof, regardless of age and personal endeavors – creating a multigenerational living situation.

As home prices continue to rise, more families are starting to consider a multigenerational living situation. Before you start packing to move in with your in-laws, here are a few things you should consider.

Defining a Multigenerational Home

A multigenerational home caters to two or more adult generations. It can include grandparents, parents, children, or extended relatives living under one roof. There are several reasons why some families choose to live this kind of lifestyle. It could be due to convenience, culture, or out of choice.

So, what is the appeal of a multigenerational lifestyle?

The Benefits of Multigenerational Living

Promotes Family Bonding

Let’s be honest. If you’re working a full-time job and have a family of your own, how often do you get to see your parents and siblings? Living in a multigenerational household allows you to bond with your loved ones, even as you work towards your goals. Your kids can become closer to their grandparents as they grow up. Culturally, you can remain closer to your heritage and maintain the customs you practiced growing up.

Cost-Efficient

Although households that host more than one generation are undeniably more expensive, having more people living with you also means you have someone to share your expenses with. With members of the family contributing in their own ways financially, it’s easier to organize and manage your budget.

Builds a Safe Environment

Safety is one of the main reasons why some families choose to live in a multigenerational home. Living together with your family and seeing them every day reassures you that they’re doing okay. This also serves as a great alternative for assisted living for elderly members of the family and daycare services for kids.

Finding the Perfect Fit

What does your family need?

When looking for the ideal multigenerational home, you need to consider your family’s necessities.

First, you need to consider the size and number of people living in the home. How many rooms do you need? Along with space, you also need to consider everyone’s privacy. Although you choose to live under the same roof, boundaries must be set to give each member their personal space.

Location

Before finding your new home, you need to figure out where to start looking. First of all, ensure that you choose a secure and safe neighborhood. Ideally, you also need to pick a location that’s convenient for all members in terms of their travel time to work, school, and other responsibilities.

 

Multigenerational homes offer a wide range of benefits. If you’re interested in forming tight-knit bonds with your family, then you might want to consider switching to this lifestyle!