Just San Ramon Homes

Looking At Multi-Generational Homes

Gale Ranch Home

Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you’re not alone. More and more buyers are choosing to buy a home that allow family members from different generations to live in harmony. Take a look at some of the top reasons why buyers are finding this approach to be a great solution, and see if a home like this may be right for you as well.

Many first-time buyers, in particular, are saying that cost-savings were a key reason for them to go this route. By pooling their resources with others, they can share mortgage payments, utilities, and more to make homeownership more affordable.

Multi-generational living isn’t just about the financial side of things though. According to a recent study from the National Association of Realtors, 23% of repeat buyers chose to buy a multi-generational home to make it easier to care for an aging parent. Many older adults want to

age in place and a multi-generational home can help make that possible. For those older adults, it gives them an opportunity to maintain their quality of life while being surrounded by their loved ones.

And since buying a multi-generational home generally means buying a larger home than you would normally be able to afford. Both first-time and repeat buyers choose to live with others so they can buy a larger home. When everyone chips in and combines their incomes, that big dream home with more space suddenly becomes a practicable answer to your housing needs.

What Does Multi-Generational Really Mean?

Every family’s needs are far from identical. For some, just having a separate bedroom with attached bathroom is quite sufficient, while others would want to have separate living rooms as well. The need for adequate kitchen size and cooking space may need to be taken into consideration. Even parking spaces for vehicles.

Talk to The Professionals

Bernard and Michelle can help you find the perfect multi-generational home. It really isn’t as simple as shopping for a regular house. More people’s needs (and opinions!) have to be considered, and having an independent advisor can make all the difference.

So if you’re interested in the many benefits multi-generational living offers, contact us any time and we’ll do everything we can to help.

Another alternative approach to multi-family living you may want to consider is buying a home with an ADU (an Accessory Dwelling Unit) or even having one built on your property, either as a detached unit or attached. With recent changes in the law, this can be a very practical solution to have your aging family members with you or even just as an investment opportunity.

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