Tag Archives: #multigenerationalliving

Is Multi-Generational Living an Option?

Whether it’s for financial or health-related circumstances, or simply because you’ve reached a new phase in your life, you might be wondering if living with multiple generations under the same roof is the right move. Many have have found themselves in similar situations and have found that living in a multigenerational home is a good idea.

What Is a Multigenerational Home?

The Pew Research Center defines a multigenerational household as a home with two or more adult generations. They include households with grandparents and grandchildren under the age of 25. As you weigh your options and decide if multigenerational living is right for you, here’s some helpful information including testimony from homeowners living with additional loved ones.

The Benefits of Multigenerational Living

A recent report from Generations United surveyed individuals living in a multigenerational setting and asked them about the key benefits of this arrangement. It says: “Nearly all Americans who live in multigenerational households (98%) feel their household functions successfully citing various aspects of home design, family relationships and interactions, and supports and services influencing their success.”

The study identifies some of the top benefits of this lifestyle including an improved financial situation, better mental and physical health, and strengthened bonds with loved ones.

Millions of Americans Have Discovered the Benefits of Multigenerational Households | MyKCM

Those are just some of the reasons why most people who decide to live in this situation find it worthwhile. As Donna Butts, Executive Director at Generations United, says: “Families may come together from need, but they are staying together by choice.”

With More Adults Living Under One Roof, You May Need More Space

If you decide to look for a multigenerational home, it’s important to understand what everyone will need to make the arrangement work to its fullest. Something that often makes the top of the list is additional space for privacy. This could mean more bedrooms and bathrooms or features like an in-law suite or a basement.

If you’re still living in a house with several bedrooms where you raised your family, but now only use just a few rooms, your property may be of interest to someone looking for a multi-generation setting. Marketing your home and taking advantage of the equity you have in your house could help you finance your next move to a smaller home or a condo.

Curious about multigenerational living and your options as either a buyer or seller? We’d be happy to answer your questions. Let’s connect at 508-360-5664 or msennott@todayrealestate.com.

It’s important that you have the right information to make an educated and informed decision.

Mari and Hank

Multi-Generational Homes Becoming More Common

Did you know that one in six Americans currently live in a multi-generational household?

Our friends at industry resource KCM and Generations United, report that the number of multi-generational households rose from 42.4 million in 2000 to 64 million in 2016. The 2018 Profile of Home Buyers and Sellers from the National Association of Realtors shows that 12% of all buyers have a multi-generational household.

The benefits to multi-generational living are significant. According to  a posting from Toll Brothers, ranked the number one home builder worldwide:

“In recent years, there’s been a steady rise in the number of multi-generational homes in America. Homeowners and their families are discovering new ways to get the most out of home with choices that fit the many facets of their lives.”

Their piece explains the top five benefits of multi-generational living. Here is the list, along with excerpts from their article:

1. Shared Expenses

“Maintaining two households is undeniably costlier and more rigorous than sharing the responsibilities of one. By bringing family members and resources together under one roof, families can collectively address their expenses and allocate finances accordingly.”

2. Shared Responsibilities

“Distributing chores and age-appropriate responsibilities among family members is a tremendous way of ensuring that everyone does their part. For younger, more able-bodied members, physical work such as mowing the lawn or moving furniture is a nice trade-off so that the older generation can focus on less physically demanding tasks.”

3. Strengthened Family Bond

“While most families come together on special occasions, multi-generational families have the luxury of seeing each other every day. By living under one roof, these families develop a high level of attachment and closeness.”

4. Ensured Family Safety

“With multiple generations under one roof, a home is rarely ever left unoccupied for long, and living with other family members increases the chances that someone is present to assist elderly family members should they have an accident.”

5. Privacy

“One of the primary trepidations families face when shifting their lifestyle is the fear of losing privacy. With so many heads under one roof, it can feel like there’s no place to turn for solitude. Yet, these floor plans are designed to ensure that every family member can have quiet time… [and] allow for complete separation between the generations within the household.”

A local realtor — like Mari Sennott and Associates — can assist you in identifying homes on Cape that could address your particular requirements for multi-generational living. Please contact us at 508-568-8191 or at msennott@todayrealestate.com. We’d be happy to help.


Looking to update your home before selling?

There are two areas that buyers seem to pay the most attention to: kitchens and bathrooms. Both are potential big ticket items that can impact an offer, if the buyer feels that they’re in need of improvement.

One way to update the kitchen that’s gaining popularity is replacing the microwave over the stove with a hood.

To learn more, check out this article in the most recent edition of Realtor Magazine. 


Finally…

To simplify the home buying process, prioritize your needs.

Enjoy your week…

Mari and Hank