In today's world of rising housing costs , many buyers are looking for ways to still be able to buy a home. Some of them have found a solution in multi-generational living. Multi-generational living is when two or more adult generations live together under one roof. This includes siblings, parents, or even grandparents. Here’s an in-depth look at why more buyers are choosing this option today, so you can see if it may be right for you too. Reasons To Buy a Multi-Generational Home According to a recent study by the National Association of Realtors (NAR), the top two reasons people are opting for multi-generational homes today have to do with affordability ( see graph below ): Cost Savings: About 28% of first-time buyers and 11% of repeat buyers are deciding on a multi-generational home to save on costs. By pooling their resources, households can share the financial responsibilities like mortgage payments, utilities, property taxes, and maintenance, to...
