The Modern Trend of Multigenerational Homes
Written by Jason C. Henbest, Esq. and Brittany Saxton
In modernity there is a growing trend in the real estate market that is hard to deny. American families have become interested in purchasing multigenerational homes. These homes accommodate aging parents, grown children, and other sorts of extended family all under one roof. Why are these types of homes booming and what purpose do they serve?
Multigenerational homes are seen as ideal for numerous reasons. First, people are trying to cut back on spending. Based on the 2008 recession and the increasing number of young people with immense student loan debt, people are trying to live within their means. Second, people at a crossroads in their life are looking for stability. There are adults looking to return to their parents’ home after a messy divorce and people who are having trouble finding a job to support their independent lifestyle. Third, there are tens of thousands of baby boomers retiring, and living longer lives than the previous generation. And finally, many grandparents are looking to be closer to their children and grandchildren in their retirement. These are just a few reasons why multigenerational homes are growing in popularity. But do these reasons add up to an ideal situation where three or four generations can comfortably live under one roof?
The answer is a resounding “yes!” Not only are multigenerational homes growing in popularity, but they are being built to provide separate amenities for all aspects of the extended family. Multigenerational homes have separate entrances, living spaces, temperature controls, garages, kitchenettes, laundry facilities, and the like. Quite possibly, you could live under the same roof as your elderly parents and not see them for days if you so choose.
Multigenerational homes are meant to be cost-effective, comfortable, and convenient. While this living style is not for everyone, it is hard to deny the popularity of these homes when the demand is so high.
However, building a home, or retrofitting your existing home, to accommodate multi-generational living could be tricky under local land use restrictions. Construction of “mother/daughter” or other unique living spaces may fall victim to exclusionary zoning. And for that reason, it is important to do your homework before starting such a project. As always, if you are considering purchasing a home contact your real estate lawyer for sound legal guidance throughout the transaction.
Lacey Township Lawyer | Real Estate | Multigenerational Homes