Ever thought about living in the same house with your grandparents, parents, or other loved ones? You’re not alone. A lot of people are choosing to buy multi-generational homes where everyone can live together.
According to a recent report from the National Association of Realtors (NAR), there are several reasons why people are choosing multi-generational living. Two of the top reasons had to do with aging parents: 27% of buyers chose multi-generational homes so they could take care of their parents more easily; and 19% did it to spend more time with them. A lot of older adults want to age in place, and living in a home with loved ones can help them do just that.
Buying a multi-generational home isn’t just about being close or taking care of the people you love—it can also save you money. According to the NAR report, 22% of buyers say they picked a multi-generational home to cut down on costs, and 11% needed a bigger house multiple incomes could afford together.
Sharing costs like the mortgage and utilities can make owning a home more affordable. This is especially helpful for first-time homebuyers who might find it challenging to buy a place on their own in today’s market.
Looking for the perfect multi-generational home is a bit trickier than finding a regular house. There are more people involved, which means more opinions and needs to think about. It’s like putting together a puzzle. A local real estate agent can help ensure that all the pieces fit together.
Click here for a preview of a multi-generational home currently being offered through C21 Farm & Forest. Click here to read the full article.
