Could a Multigenerational Home Be The Right Fit For You?

During the pandemic many of us reexamined the meaning of home for ourselves and our loved ones.  Today, that can be seen in the recent rise in multigenerational household.  According to Jessica Lautz, Deputy Chief Economist and vice President of Economic Research at the National Association of Realtors (NAR): "Muti-generational buying may be a home where families live in the same home with elderly parents, children who have boomeraged back home, or other extended family members.  While this is not a new concept of living, it is one which has gained recent popularity." So, if buying a multigenerational  home has crossed your mind, you aren't alone.  Depending on what stage of homeownership you're in, there are different reasons it could be the right fit. 

Top Reasons To Purchase a Multigenterational Home -

FIRST TIME HOMEBUYERS -  28% want a larger home multiple incomes can afford.

                                                        28% cost savings

REPEAT HOMEBUYERS -         23% health/caretaking of aging parent

                                                        19% children/relatives over 18 moved back

Whether your motives are financial or focused on the people you'll share your home with, a multigenerational home has distinct advantages.  It can make homeownership more affordable and it can help you best support your loveds.

"...mutigeneraltonal living has made a come back in recent years, particularly after the 2008 financial crisis and during the pandemic."  

If you're ready to buy a house, consider the opportunities of a multigenerational home.  Let's you and I connect so you can explore your options.