Mar 21, 2021

Multi - Generational Living

Many years ago, it was not at all uncommon for multiple generations to live in the same home.  In many countries, they still do.  Grandparents, parents and their children often lived together.   As our standard of living in the United States grew, the trend was not as prevalent.  Parents looked forward to the day when the kids would leave the nest as they became empty nesters.  When the financial crisis hit in 2008 - 2009, we started to see millennials remain home longer because they could not locate good paying jobs in many cases.  

And, now with 10,000 people a day turning 65 years old for the next 15 - 20 years, there will be many senior citizens that not only require care; but perhaps the financial need to live with their 40 - 60 year old children.  This is particularly the case when Mom is a widow and living alone, which tends to be the case more often than not since men usually die first.  Not everyone can afford to pay $4,000 - $6,000 a month to living in senior living communities.

All of this in addition to housing prices going through the roof gets us to the possibility of multi-generational living, once again as occurred years ago, when perhaps three generations could be living in the same home.  The implications related to home design are obvious.  Grandma needs a bedroom preferably with bath on the first floor.  Married children if living home need a bedroom preferably with bath in one wing of the house for some privacy.  And of course, the parents will want a large master bedroom with bath as a retreat to get away from them all for some peace and quiet at times.  Obviously, there needs to be some family friendly spaces for gathering and dining and more often than not a home office.  Homes built with a bonus room as a second living space is also useful.

At Paragon Home Resources, we work with families to sell and buy homes all over the United States.  We can help with finding just the right home to meet the family's needs to accommodate multi - generational living, which is becoming quite common again.