MultiGen and Dual Living Homes.
Multigenerational homes are an emerging trend in senior living and the real estate market. “Multigen” is where two or more generations decide to move back in together. “Dual living” means separate living quarters, regardless of whether they are part of the same family. That is also an emerging trend.
There are many advantages, financial and emotional. Often elderly parents move in with their adult children. This is much more desirable than a nursing home, or an independent living facility, which can be very costly. Sometimes grandparents are capable of share in child-rearing responsibilities. Everyone benefits from this arrangement.
Since we live in a multigen household, we specialize in finding and selling those types of homes. Our multigen homes are located on acreage or large lots. They have “elbow room for the soul”, which provides lots of room & privacy.
According to the most recent 2016 study by the Pew Research Center, 1 in 5 homes in the U.S. are now multigen. Because of this trend, multigen homes will continue to be popular. Likewise, it is a good way to address caring for the elderly in a rapidly aging population.
Working with multigen clients can pose some challenges. In spite of the demand for multigen homes, separate living quarters are not a common feature. So you often end up finding homes home that are not quite set up with separate quarters, but could be. Here, it takes some some ingenuity to imagine how a home can accommodate all family members. From our own experience of upgrading an existing home to multigen, we can identify those homes best suited for modifications.
Multigen Sellers: Call us for a free market analysis of your home’s value. We are specialists in this field, and we have buyers ready to move!