Top 5 Benefits to Purchasing a Multigenerational Home

The trend of multigenerational living doesn’t seem to be going anywhere. Here are 5 reasons why.

There’s a Market for It

Multigenerational living is once again common in America. After being a norm for many generations, then declining as American families scattered, multigenerational households have grown over the past several decades. The past ten years have seen a remarkably large leap in multigenerational living, from 7 percent of Americans in 2011 to 26 percent of Americans in 2021. Most of us are likely either residing in a home with three or more generations, or we know someone who is. As the desire for multigenerational homes increases, homebuyers are looking for ways to bring all their family together under one roof—floorplans that are designed to accommodate multiple generations while maintaining a sense of privacy and individual space.

Lower Living Expenses

Affordability is a major benefit of multi-generational living. Each family in a multigenerational home often pays less in bills than they would if they lived on their own. After all, the mortgage doesn’t rise because there are six people living in a home instead of two. Similarly, gas, electric, and cable bills do not go up considerably when the number of residents increases.

Share Responsibilities

When living together, multiple generations can share responsibilities so that the load is lighter for everyone. For example, grandma might enjoy cooking family dinner, her son can do the grocery shopping, and the grandkids can set the table. With more individuals in the home, there are more helping hands to pitch in and get things done. However, if a senior requires a lot of attention and care, having an aging loved one at home can increase the responsibility of the family. But the responsibilities can be more easily managed with the loved one close at hand rather than across the country or even across town.

Keeps Family Close

Multi-generational homes offer numerous benefits that can help strengthen family ties. By living together under one roof, family members have more opportunities to spend time together, share experiences, and build closer relationships.

Safety

Multi-generational homes can provide a sense of safety and security for families. With multiple generations living together, there is always someone around to help in case of an emergency.

Call Lesa Miller at (812) 360-3863 or go online at https://lesamillerrealestate.com/ where you can read her posts on other social media accounts and websites.