I was recently contacted by a local homeowner: “I have two investment properties which I want to sell and do 1031 exchange with their proceeds. I’m thinking of getting a multigenerational home, where I can live with my kids.” I had not dealt with them before, so started to do my research to be able to better help her.

What exactly is a Multigenerational Home?

Multigenerational homes are designed to provide space for multiple generations to live under one roof. They’re practical, affordable, and allow for more quality time with family. And demand for them is on the rise: 1 in 5 Americans are living in multigenerational homes — a 30 percent increase since 2007. The basic idea of multigenerational living is that at least two adult generations live together. This could look like a home with grandparents living with their children and grandchildren, a home with parents and their adult children, or even a four-generation home. In a multigenerational home, each generation will benefit from having their own separate space and privacy.

Homebuilders are always studying the trends and when they see the need (remember: 30 percent increase since 2007), they try to fill it: Many, among their different layouts, are designing & building homes with multigenerational needs in mind.

In Sacramento area, I know that Lennar & Woodside Homes offer multi-gen homes. Over the weekend, I had the opportunity of visiting the latter. Their Zephyr model, is a multi-gen home. It is a two story, 3,952 sqf, 5-7 bedrooms with 4.5 to 6.5 baths. Downstairs, offers a single bedroom & bath, the in-laws quarters which has its own entry, living area, bathroom & a kitchenette. Then there are 4 bedrooms, 3 baths and a loft upstairs. Base price for the Zephyr Model is $1,178,990. And there’s a good size front & backyard as well. Considering an older 1500 sqft, 3 bedrooms 2 bath home in Folsom, sells around 600K, I would say it’s reasonably priced, if it fits one’s life style. Think of all the $ a young couple can save by not paying for childcare.

Photo courtesy of Woodside Homes

Why Buy a Multigenerational Home?

Multigenerational homes offer extra space to accommodate whatever living arrangement meets your family’s changing needs. Buyers purchase multi-gen homes so that:

  • Aging parents can move in with their children.
  • Adult children may move back home for a bit – after college or after a divorce, for example.
  • There’s room to accommodate a live-in nanny or au pair.
  • Family members with special needs are within reach, making it easy to help them.
  • Relatives and friends can stay for extended visits.

No matter what your reasons are for buying a multigenerational house, these home are designed to help your family grow closer, while still providing enough privacy and space for everyone.

Benefits of Living in a Multigenerational Home

1. It’s economically efficient.

    Families can easily share expenses and responsibilities. Think utility, insurance costs, travel time to see relatives, sharing chores, daycare & babysitting.

    2. Living together bolsters family ties.

    Think quality times kids will have with grand parents, learning from them & making lifelong memories.

    3. Privacy is a priority

    Having too many heads under one roof can be stressful. Multi-gen homes are designed with privacy for both parties in mind: Not only the layout is somehow that the in-law quarters is on the side, but also they have extra insulated walls for noise reduction.

    4. Multi-gen homes help keep your family safe.

    Multi-gen homes can serve as an excellent alternative to assisted living for aging parents. You’ll have peace of mind, knowing your parents are nearby, and your parents will love being able to spend more quality time with family members. Also, should a health emergency arise – if an older family member falls or if a relative with special needs gets hurt, for example – there will be other family members around to help.

    If you were considering this kind of house for you and your family, give me a call. I can find out what other builders might be offering this kind of housing, and make appointments to go see them.