Leave a Message

Thank you for your message. We will be in touch with you shortly.

More People Are Finding the Benefits of Multigenerational Households Today

Liz Kroft  |  January 10, 2023

More People Are Finding the Benefits of Multigenerational Households Today

If you’re thinking of buying a home and living with siblings, parents, or grandparents, then multigenerational living may be for you. The Pew Research Center defines a multigenerational household as a home with two or more adult generations. And the number of individuals choosing multigenerational living has increased over the past 50 years.

As you consider this option for your own home search, know it could help you on your homeownership journey and provide you with other incredible benefits along the way.

Living with Loved Ones Could Help You Achieve Your Homeownership Goals

There are several reasons people choose to live in a multigenerational household, and for many, the arrangement is a personal one. But according to the Pew Research Center, the top reason people choose to live together today is financial.

recent study from Freddie Mac also finds more people are choosing to buy a home together so they can save money in the homebuying process. As the study says:

“. . . an increasing percentage of young adult first-time homebuyers are relying on support from older generations, including their parents, to buy a home together.

For these individuals, combining their resources can help them achieve their dream of buying and owning a home. By pooling their incomes together to make that purchase, they may be able to afford a home they couldn’t on their own.

More People Are Finding the Benefits of Multigenerational Households Today | MyKCM

Other Key Benefits of Multigenerational Living

Not to mention, living in a home with loved ones can have other benefits too, like giving you more quality time to spend together. Darla Mercado, Certified Financial Planner and Markets Editor for CNBC.comexplains how this living arrangement can help on a personal and financial level:

“Residing with relatives can offer advantages . . . you can pool multiple streams of income, for instance. And in households with young children, grandparents can pitch in with child care.

If this sounds like a great option for you, it’s important to work with a trusted real estate professional to discuss your needs. They can help you navigate the process to find the right home for you and your loved ones.

Bottom Line

More people are discovering the benefits of multigenerational living. For the best information and help deciding what’s right for your personal situation, let’s connect and start the conversation today.


Recent Blog Posts

Stay up to date on the latest real estate trends.

Buying

How the Real Estate Buying Process is Changing

The real estate market is constantly evolving, and the way people buy homes is no exception. With technological advancements, shifts in buyer preferences, and changes … Read more

Selling

Secrets Revealed: How This Scotts Valley Home Went Into Contract In Under A Week

Discover the real estate magic that filled open houses with 26 groups in just one weekend, surpassing the Scotts Valley average of 31 days on the market. Explore the s… Read more

Market News

Foreclosure Activity Is Still Lower than the Norm

Have you seen headlines talking about the increase in foreclosures in today’s housing market? If so, they may leave you feeling a bit uneasy about what’s ahead. But re… Read more

Selling

Local Charm, Global Impact: Sol Property Advisors Redefines Boutique Real Estate

Boutique real estate excellence in Santa Cruz County and Monterey Bay. Sol Property Advisors combines local charm with national and global reach, offering personalized… Read more

Family

Is It Time To Buy a Smaller Home?

Life events can have a major impact on what you need from your home, and retirement is one of the biggest changes many of us face. This period of your life can mean do… Read more

Selling

A Seller's Guide to Navigating Today's Real Estate Environment

Unlock success in today's dynamic real estate market with expert seller strategies for attracting buyers today. Navigate market shifts, adapt to changing buyer needs, … Read more

Buying

Exploring 401(k) for Your Home Purchase: Wise or Risky?

Pondering the prospect of using your 401(k) for a home down payment? Our latest blog explores the implications, providing insights into the potential risks and viable … Read more

Welcoming Guillermo: A New Addition to Our Real Estate Team

We're thrilled to introduce you to the latest member of our real estate family, Guillermo Guadron – your dynamic partner with a rich tapestry of experience.

Market News

Client Success Story: How Savvy Buyers Outsmarted High Mortgage Rates

If you've been keeping up with recent articles on our blog and social media, you're likely already aware that today's real estate market can offer incredible opportuni… Read more

Say Hello

You’ve got questions and we can’t wait to answer them.