Multigenerational Homes: Real Estate’s Latest Trend is Here to Stay by Shorewest, REALTORS®

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2012 statistics now show that 4.4 million American households now live with three or more generations under one roof. An estimated 51.4 million Americans currently live in homes with more than two generations. With the economic downturn, it’s no surprise that more and more families are choosing to consolidate their lifestyles into one home.

To keep multiple generations happy in the same home, many have added considerable square footage, including entirely new wings. Jessica Bruno and her family are part of a four-generation home, and she explained in this article how the family manages. “Gram and Gramp are in one wing; my husband, son and I are in the middle; and my parents are in the other wing,” she said. The home includes two kitchens, five “living spaces,”  television areas and two driveways.

Lennar, one of the largest home builders in the country, started marketing their bonus rooms in 2011 with the phrase, “Next Gen – The Home Within a Home,” according to a recent New York Times article. Between 2007 and 2009, there was a 10% increase in multigenerational living, and even more startling, a recent Pew study revealed that 41% of adults 25 to 29 currently or have recently lived with their parents. Not only is this lifestyle the product of necessity, most residents see the long-term non-financial benefits first and foremost. Tom Moser, who lives with his wife and father, stated, “I think it’s a natural way to live. Communal living fosters love and commitment, and all the good values we want.”

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Categories: Home Improvement, Real Estate News

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