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Health & Fitness

Interest in multigenerational homes is on the rise

Instead of empty nest, you may find yourself supporting aging parents, returning children or both.

If you’re searching for multigenerational homes, you’re not alone. Demand for multigenerational living accommodations -- so that an elderly parent or a grown child who needs some additional support may move in – is growing. 

Middle-aged home owners who might have expected to be empty-nesters by now are finding that their nest is not as roomy as expected. In some cases, they may even be responsible for senior parents and adult children at the same time. We call these people members of the “sandwich generation.”

According to a 2012 Pew Research report, the number of adults ages 25-34 living in multigenerational homes increased sharply in recent years, to a level not seen since the 1950s.

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Among those surveyed, 53 percent in the 18–24 age-range said they live with parents or have lived with their parents temporarily in recent years. Forty-one percent of adults in the 25–29 age range said they currently or have recently lived with parents as adults.  Typically, the return of an adult child is tied to divorce or job loss, though other factors may apply.

On the other side of the generational spectrum are aging parents. These parents tend to move in with their adult children when they need help managing meals, medical care or other necessities.

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If you’re in the market for multigenerational homes, the responsibility of supporting additional generations may weigh heavily on you. But you shouldn’t look at it as bad news; there are plenty of silver linings.

The benefits to multigenerational homes

Pew Research found that even if they do feel more pressed for time, adults in the sandwich generation reported similar levels of happiness as other adults. Financially, there can be benefits to combining the generations into one family home rather than lending financial support while living separately.

  • Maintaining a single home is more cost-effective than supporting multiple homes.
  • Less driving is required to check on aging parent(s), saving time and money.
  • Selling, renting, or leasing a too-small house that belongs to one family member might help finance a larger home for the group or remodeling an existing home to meet their needs.
  • The arrangement may result in reduced cost for child care and/or elder care.
  •  More household members mean more people to handle chores and maintenance.
  •  An even stronger sense of family and less time spent alone (particularly for aging parents)
If you're considering selling your home and seeking out multigenerational homes, I invite you to visit homevaluesca.com to find out what your current home is worth on the market, and please visit my website navigatingyourmove.com for more information about home listings in the region. 

By embracing multigenerational homes, you’ll have the peace of mind of knowing that all of your family is stable, secure and healthy. 

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