Thinking about living under the same roof with your grandparents, parents, or other relatives? You’re not alone! More and more folks are opting for multi-generational homes, and there are some pretty compelling reasons why.

According to the National Association of Realtors (NAR), affordability is a big driver for many buyers. First-time buyers, in particular, are all about cost savings, with 28% pointing to this as a key reason. Pooling resources with family members means sharing the financial load, from mortgage payments to utilities, making homeownership more achievable in today’s market.

Another perk? Going big on that dream home. Both first-time (28%) and repeat buyers (18%) are teaming up with family to afford a larger space. Combining incomes can turn that dream home with extra space into a reality.

But it’s not just about the dollars and cents. NAR’s study found that 23% of repeat buyers opt for multi-generational living to make caring for an aging parent more manageable. For older adults, this arrangement provides a way to age in place while staying close to loved ones – a win-win. As Axios puts it,

“Financial concerns and caregiving needs are two of the major reasons people live with their parents (and parents’ parents).”

Sure, finding the perfect multi-generational home is a bit like putting together a complex puzzle. With more opinions and needs in the mix, it takes some expertise. That’s where a local real estate agent can really shine. So, if you’re intrigued by the benefits of multi-generational living, consider teaming up with an expert to make it happen.

Whether you’re motivated by financial considerations or the desire to share your space with loved ones, a multi-generational home might just be the right fit for you. Curious to learn more? Let’s chat!