Did you know 17% of homebuyers are now purchasing multi-generational homes? That means they’re sharing a property with parents, grown children, or even distant relatives. According to the National Association of Realtors (NAR), this is the highest percentage ever recorded!
Why Multi-Generational Living Is on the Rise
In the past, families often chose multi-generational homes to take better care of aging parents—a tradition that continues today. But there’s a new reason driving this trend: saving money.
The latest data from NAR shows that affordability has become the top reason families are deciding to live under one roof. By sharing costs, they can ease financial pressure while staying connected.
The rising cost of owning a home is making it tough for many people to buy one on their own. In response, more families are coming together to pool their resources and make homeownership a reality.
By sharing costs like the mortgage, utility bills, and other expenses, multi-generational living offers a creative way to overcome financial hurdles. Rick Sharga, Founder and CEO of CJ Patrick Company, explains:
“There are a few ways to improve affordability, at least marginally. . . purchase a property with a family member — there are a growing number of multi-generational households across the country today, and affordability is one of the reasons for this.”
This approach might help you afford a larger home than you could manage on your own. If rising rates or home prices are limiting your options, it’s a practical way to secure the extra space you need.
The benefits go beyond finances, too. Sharing a home can deepen family bonds and create more opportunities for meaningful time together—something money can’t buy.
Bottom Line
Moving soon? If managing your budget feels like a challenge, a multi-generational home could be the perfect fit for your family.
Let’s connect and find a home that checks all the boxes for everyone in your household.