![Multigenerational Housing Is Gaining Momentum [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2021/04/08105653/20210319-MEM-1046x1980.png)
Multigenerational housing is gaining momentum. When we discuss multigenerational housing, we're talking about households with two or more generations living under one roof.
Whether it's due to the fact you have aging parents who need a little more care than before, or you're just a tight-knit family who enjoys being around each other, you may be considering multigenerational living or may already be living in this situation. If your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move-up into a multigenerational home that better suits your changing needs.
In 2020, 12 percent of all homes were sold, with it hitting 15 percent in the spring of 2020. However, 28 percent of all homes purchased in 2020 were purchased to accommodate adult children living at home, and 25 percent of all homes purchased in 2020 were purchased to accommodate aging parents. The most common age-range for these purchases were those 41-55 followed by those 75-95.
What are some of the benefits of making the move to multigenerational living?
- You can combine your home-buying budget, allowing you to buy more house
- It allows you to spend more time together
- Caregiving duties can be shared amongst those in the house, whether it be taking care of aging parents or small children
- Plenty of space for everyone, making living together more enjoyable
With such high demand for homes today, now is a great time to sell so you can upgrade to a home that meets your evolving needs.
Some Highlights
- If your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move-up into a multigenerational home that better suits your changing needs.
- With benefits that include a combined homebuying budget and shared caregiving duties, an increasing number of households are discovering the value of a multigenerational home.
- With such high demand for houses today, now is a great time to sell so you can upgrade to a multigenerational home that may better suit your evolving needs.
