Buying a Home March 2, 2022

Multigen Living – Is it right for your family?

It’s a normalized custom for families to begin living separately as they progress with their lives. Kids move out once they reach a certain age to pursue their careers and maybe even start their own families, while the parents continue to live in their own home. This is what it’s like in most households.

However, some families choose to stay together under one roof, regardless of age and personal endeavors – creating a multigenerational living situation.

As home prices and the overall costs of living continue to rise, more families are starting to consider multigenerational living. Before you start packing to move in with your in-laws, here are a few things you should consider.

Defining a Multigenerational Home

A multigenerational home caters to two or more adult generations. It can include grandparents, parents, children, or extended relatives living under one roof. There are several reasons why some families choose to live this kind of lifestyle. It could be due to convenience, culture, or it could be out of choice.

So, what is the appeal of a multigenerational lifestyle?
The Benefits of Multigenerational Living
Promotes Family Bonding

Let’s be honest. If you’re working a full-time job and have a family of your own, how often do you get to see your parents and siblings? Living in a multigenerational household allows you to bond with your loved ones, even as you work towards your own goals. Your kids can become closer to their grandparents as they grow up. Culturally, you can remain closer to your heritage and maintain the customs you practiced growing up.

Cost-Efficient

Although households that host more than one generation are undeniably more expensive, having more people living in one home also means you have others with which expenses are shared. With members of the family contributing in their own ways financially, it can be easier to organize and manage your budget.
Safe Environment

Safety is one of the main reasons why some families choose to live in a multigenerational home. Living together with your family and seeing them every day reassures you that they’re doing okay. This also serves as a great alternative to assisted living for older family members and daycare services for kids.
Finding the Perfect Fit

What does your family need?

When looking for the ideal multigenerational home, you need to consider the needs of each individual who will live in the home.

How many people will be living together? How many bedrooms, bathrooms, and living spaces will you need? Along with space, you also need to consider everyone’s privacy. Although you choose to live under the same roof, boundaries must be set to give each family member their personal space.
Location

Before finding your new home, you need to figure out where to start looking. Ideally, you need to pick a location that’s convenient for all family members in terms of their travel time to work, school, and other responsibilities.

Multigenerational homes offer a wide range of benefits. If you’re interested in forming tight-knit bonds with your family, then you might want to consider switching to this lifestyle!