Posted in Industry News
It’s a Packed House! Multigenerational Houses On the Rise
The housing industry has seen a growing trend of multigenerational homes. Many new parents who want some extra assistance with their young children will opt to have a grandparent live in a connected living space, often referred to as the in-law’s suite. Another example of a multigenerational living situation involves baby boomers who fall into the “sandwich generation.” This generation is characterized by being “sandwiched” between the need to support a millennial and/or an elderly parent—all potentially living under one roof.
According to the Pew Research Center, more than 18% of adults (57 million Americans) live in multigenerational homes, more than twice the numbers in the 1980s.
The American Institute for Architecture recently released results from the home design trends survey, which shows 45% of architects say that the popularity of multigenerational homes is increasing.
As homebuyers, architects and builders alike look at the immediate need for accommodating multigenerational families living together, it is important to consider how remodeling, new additions and even a completely new home will affect them in the long run. Without knowing whether this is a fleeting or lasting trend, it is hard to gauge how this will affect future home resale values.
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