Why are Multigenerational Families are becoming more commmon?

Do you have a senior family member that’s beginning to have difficulties living on their own?

Many of us do - and deciding what to do next can be daunting at best. Moving in together can be a rewarding experience or a total nightmare. There's a lot to be considered and worked out before making a commitment like this. But it works!

So what is a Multigenerational Household?
The U.S. Census says a multigenerational houseold consists of more than two generations living under the same roof. There are many researchers, however that say it also includes households with a grandparent and at least one other generation.

Why are multigenerational households growing?
* People are marrying later and living with their parents by choice or economic necessity.
* Latin Americans and Asians have immigrated to the U.S. in large numbers. Immigrants are more likely to live in a multigenerational family.
* A larger number of Baby Boomers born between 1946 and 1964 are financially secure and able to offer their parents a place to live, while providing a home for their own children.

The number of Americans suffering from chronic conditions and disabilities is increasing. This group may move in with family members to gain access to caregivers for themselves and/or their children.

During the recession of December 2007 to June 2009, Americans faced job losses and other forms of reduced income so sharing household expenses became a necessity.

Types of multigenerational households:

Two adult generations: Most two-generation households consist of a parent and a child between the age of 18 to 22. These are typically households with children who return to their parents’ home because of unemployment, underemployment or other reasons.

Grandfamilies: These households are headed by an older individual or couple who live with grandchildren under the age of 18.

Three-generation: The most common multigenerational household arrangement consists of three generations – typically one or more working-age adults, one or more of their children (who may also be adults), and aging parent(s) and/or grandchildren.

Four-generation: Once a rarity except in some lower-income ethnic communities, the four and five-generation household (parents, grandparents, great-grandparents, adult children, their children) is becoming more common.

Are you thinking about moving in with someone or having someone move in with you?

Watch this quick YouTube video titled “An Introduction to Multigenerational Living … or living you’re your mom”. It’s a lighthearted conversation with my mom about the pros and cons of living together!

https://www.youtube.com/watch?v=YPaM7_29870&list=PLGhHTrLFPSZjHBnlwpA_FC7FUq2X9SrfA

A Note from Linda:

My mom (80), my husband and I all live together. We consider ourselves a multigenerational family and it works! For more information, call or text me and let’s have a conversation!

Linda Treadway, eXp Realty
(682) 224-9848