Are you considering living with additional loved ones such as grandparents, adult children, or extended family members? Whether for financial or health-related reasons or simply because you’ve reached a new phase of life, you might wonder if living with multiple generations under the same roof is a good move for you. If so, you’re not alone. Many people have found themselves in a similar situation and have already chosen to live in a multigenerational home.
So, what is a multigenerational home? The Pew Research Center defines it as a home with two or more adult generations, including families with grandparents and grandchildren under 25. As you weigh your options and decide if multigenerational living is right, here’s some helpful information highlighted by other homeowners living with additional loved ones.
According to a recent report from Generations United, nearly all Americans who live in a multigenerational household (98%) feel that their household functions successfully, citing various aspects of home design, family relationships and interactions, and supports and services influencing their success. In addition, the study identifies some of the top benefits of this lifestyle as an improved financial situation, better mental and physical health, strengthened bonds with loved ones, and more.
With more adults living under one roof, you may need more space. Additional space for privacy often makes up the top list for homeowners with multiple generations, which could mean more bedrooms and bathrooms or features like an in-law suite or a basement.
If you realize that your current house doesn’t provide the room you need for multigenerational living, an expert real estate advisor can help you navigate the process to find the right home that works for you and your loved ones.
In conclusion, living in a multigenerational household has real and impactful benefits. If you want to learn more about these options in your local area, you must contact a trusted real estate advisor who can help you find a home that fits your changing needs.