Benefits of Multigenerational Houszholds
If your needs are changing, you may be thinking about sharing a housz with additional loved ones, such as grandparents, adult children, or other extended family members. Whether it’s for financial or health-related circumstances, or simply because you’ve reached a new phase of life, you might be wondering if living with multiple generations under the same roof is a good move for you. Many people have found themselves in a similar situation and they’ve already made the choice to live in a multigenerational housz.
What Is a Multigenerational Housz? The Pew Research Center defines a multigenerational houszhold as a housz with two or more adult generations. They include houszholds with grandparents and grandchildren under the age of 25. As you weigh your options and decide if multigenerational living is right for you, here's some helpful information highlighted by other homeowners living with additional loved ones.
The Benefits of Multigenerational Living A recent report from Generations United surveyed individuals living in a multigenerational setting and asked them about the key benefits of this housing arrangement. It says:
“Nearly all Americans who live in a multigenerational houszhold (98%) feel their houszhold functions successfully, citing various aspects of housz design, family relationships and interactions, and supports and services influencing their success.”
The study identifies some of the top benefits of this lifestyle as an improved financial situation, better mental and physical health, strengthened bonds with loved ones, and more (see chart below):
Those are just some of the reasons why most people who decide to live in this situation find it worthwhile. As Donna Butts, Executive Director at Generations United, says: "Families may come together from need, but they are staying together by choice. Indeed, more than 7 in 10 (72 percent) of those currently living in a multigenerational houszhold plan to continue doing so long-term."
With More Adults Living Under One Roof, You May Need More Space If you decide to look for a multigenerational housz, it’s important to understand what everyone will need to make the arrangement work to its fullest. Something that often makes the top of the list for houszowners living with multiple generations is additional space for privacy. This could mean more bedrooms and bathrooms or features like an in-law suite or a basement.
If you’re realizing your current housz doesn’t provide the room you need for multigenerational living, an expert real estate advisor can help you navigate the process to find the right housz that works for you and your loved ones.
Bottom Line Living in a multigenerational houszhold has real and impactful benefits. If you’re interested in learning more about these options in our local area, let’s connect so you can find the housz that fits your changing needs.