June 19, 2019
Fuller House | An Increase in Multi-Generational Homes
Multiple generations living under the same roof is extremely common for Gen Xers. They are driving this transition, making it more common again. The number of people living in multi-generational homes is currently over double what it was in the 1980s.
Gen Xers are currently 24% of homebuyers. 1 in 6 of these Gen Xers stated they were purchasing a multi-generational home. They mostly purchased one of these homes to accommodate for their adult children. 9% of millennials purchasing a multi-generation home purchased it in the thought of their aging parents.
Living in a multi-generational home can have many benefits like the flexibility it provides when splitting up chores and other tasks. Instead of one person being responsible, everyone can split up the tasks to get them done more efficiently.
This lifestyle can alleviate the financial stress by dividing up the expenses between family members so everyone can live in a home they love without paying the full cost by themselves.
Living together can also create a stronger bond between the older and younger generations. Grandparents often feel disconnected and lonely when living alone and living with the rest of their family can help with that.
Safety is a huge key factor to living in this type of home. There will almost always be someone to watch over the home and the older generation. There will be fewer chances of a break-in if people know that someone is always at home. It can also relieve stress on the younger family members when they know that the older ones are safe with the rest of the family.
Overall, a multi-generational home can provide a great space for the family to enjoy each others company and relieve the stress of a couple of factors that you would have if living alone.