Many Americans are making the decision to move into an extended family situation. Parents are moving in with their children. Or even with their grandchildren. And children are moving back in with their parents.
This used to be a quite normal thing. Back in the 1950s, more than twenty percent of Americans were living in multigenerational homes. Then, over the next few generations, the number of multigenerational homes fell. But, once again, that number is rising.
There are a number of reasons as to why this is happening. Some people want to help take care of their parents. And the fact that there is a built in babysitter is a part of their decision. Or, due to rapidly rising home prices, coupled with a dearth of available starter homes, many Millennials have been making the decision for moving in with their parents. Or even their grandparents.
Finances are also a driving factor. Either the grandparents who are living on a fixed income, or the younger family members are struggling to pay off student debt and / or save money for a down payment on their own home.
And the numbers are bearing this out. Currently, almost twenty percent of Americas are living in a multigenerational home these days. And the National Association of Realtors states that multigenerational hoes accounted for thirteen percent of all home sales in the past year. And there are even more families who are putting additions onto their homes to accommodate the extra people.
While the common nuclear home is still the prevalent life style, we are seeing that many families are looking to live in the old way, in extended families.
Bunny and Art Reiman – Realtors