👵🏻👶🏻👧🏻👩🏻 Multi-generational living is on the rise! 🏡

Multi-Generational Homebuying Hit a Record High – Here’s Why 👇

17% of homebuyers purchase a home to share with parents, adult children, or extended family. That’s the highest ever recorded by NAR (National Association of REALTORS). More buyers are choosing multigenerational living as it not only offers financial relief, but also provides built-in support systems for childcare, elder care, and household responsibilities, making it an increasingly attractive option for modern homebuyers.

In 2024, a notable 36% of homebuyers cited “cost savings” as the primary reason for purchasing a multigenerational home. This is a significant increase from just 15% in 2015. And momentum may be growing. Nearly 3 in 10 (28%) of homebuyers say they’re planning to purchase a multi-generational home.

In the past, caregiving was the leading motivator – especially for those looking to support aging parents. And while that’s still important, affordability is now the #1 motivator. With today’s home prices, mortgage rates and the current market conditions, it can be hard for people to afford a home on their own. That’s why more families are teaming up and pooling their resources. By combining incomes and sharing expenses like the mortgage, utility bills, and more, multi-generational living offers a way to overcome financial challenges that might otherwise put homeownership out of reach.

If your budget feels tight, buying a multi-generational home could be a smart solution. 😃

Whether you need extra space for Grandparents, Kids, or both, I can help you find the perfect fit. 😃 If your needs have changed and you're interested in exploring your options, let’s discuss. I'm here to help in anyway I can.

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