{"id":1174,"date":"2024-01-25T06:30:00","date_gmt":"2024-01-25T11:30:00","guid":{"rendered":"http:\/\/myhelpcomesfromthelord.com\/index.php\/2024\/01\/25\/the-top-benefits-of-buying-a-multi-generational-home\/"},"modified":"2024-01-25T06:30:00","modified_gmt":"2024-01-25T11:30:00","slug":"the-top-benefits-of-buying-a-multi-generational-home","status":"publish","type":"post","link":"https:\/\/myhelpcomesfromthelord.com\/index.php\/2024\/01\/25\/the-top-benefits-of-buying-a-multi-generational-home\/","title":{"rendered":"The Top Benefits of Buying a Multi-Generational Home"},"content":{"rendered":"
\"The<\/p>\n

Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you\u2019re not alone. More buyers are choosing to go this route and buy a multi-generational home. Here\u2019s a look at some of the top reasons why, to see if a home like this may be right for you too.<\/p>\n

Why Buyers Are Opting for Multi-Generational Living<\/strong><\/h4>\n

According<\/a> to the National Association of Realtors<\/em> (NAR), two of the top reasons buyers are opting for multi-generational homes today have to do with affordability<\/a> (see graph below<\/em>):<\/p>\n

<\/a><\/p>\n

<\/p>\n

First-time buyers are focused most on cost savings \u2013 with 28% saying this was a key reason for them. By pooling their resources with others, they can share financial responsibilities like mortgage payments, utilities, and more to make homeownership more affordable. This is especially helpful for those first-time homebuyers who may be finding it tough to afford a home on their own in today\u2019s market.<\/strong><\/p>\n

Buyers are also turning to multi-generational homes so they can more easily afford their dream home. Both first-time (28%) and repeat buyers (18%) chose to live with others so they could buy a larger home. When everyone chips in and combines their incomes, that big dream home<\/a> with more space could be more within reach. <\/strong><\/p>\n

But multi-generational living isn\u2019t just about the financial side of things.<\/strong> According to the same study from NAR, 23% of repeat buyers chose to buy a multi-generational home to make it easier to care for an aging parent. Many older adults want to age in place and a multi-generational home can help make that possible. For those older adults<\/a>, it gives them an opportunity to maintain their quality of life while being surrounded by their loved ones. As Axios<\/em> explains<\/a>:<\/p>\n

\u201cFinancial concerns and caregiving needs are two of the major reasons people live with their parents (and parents’ parents).\u201d<\/em><\/p><\/blockquote>\n

Lean on an Expert<\/strong><\/h4>\n

Finding the perfect multi-generational home isn\u2019t as simple as shopping for a regular house. That\u2019s because there are more people with even more opinions and needs to be considered. It’s like solving a puzzle<\/span>, and the pieces need to fit just right.<\/p>\n

So if you’re interested in the many benefits multi-generational living offers, partner with a local real estate agent<\/a> who has the expertise to help.<\/p>\n

Bottom Line<\/h3>\n

Whether your motives are financial or focused on the people you\u2019ll share your home with, buying a multi-generational home<\/a> may make sense for you. If you\u2019re interested in learning more, connect with a local real estate agent.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you\u2019re not alone. More buyers are choosing to go this route and buy a multi-generational home. Here\u2019s a Read more…<\/a><\/p>\n","protected":false},"author":1,"featured_media":1175,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[25,7,8,9,10,11,12,1,14],"tags":[],"class_list":["post-1174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-myths","category-first-time-home-buyers","category-for-buyers","category-for-sellers","category-housing-market-updates","category-infographics","category-move-up-buyers","category-real-estate-trends","category-rss"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/myhelpcomesfromthelord.com\/wp-content\/uploads\/2024\/01\/20240125-The-Benefits-of-Buying-a-Multi-Generational-Home.png?fit=750%2C410&ssl=1","_links":{"self":[{"href":"https:\/\/myhelpcomesfromthelord.com\/index.php\/wp-json\/wp\/v2\/posts\/1174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/myhelpcomesfromthelord.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/myhelpcomesfromthelord.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/myhelpcomesfromthelord.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/myhelpcomesfromthelord.com\/index.php\/wp-json\/wp\/v2\/comments?post=1174"}],"version-history":[{"count":0,"href":"https:\/\/myhelpcomesfromthelord.com\/index.php\/wp-json\/wp\/v2\/posts\/1174\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/myhelpcomesfromthelord.com\/index.php\/wp-json\/wp\/v2\/media\/1175"}],"wp:attachment":[{"href":"https:\/\/myhelpcomesfromthelord.com\/index.php\/wp-json\/wp\/v2\/media?parent=1174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myhelpcomesfromthelord.com\/index.php\/wp-json\/wp\/v2\/categories?post=1174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myhelpcomesfromthelord.com\/index.php\/wp-json\/wp\/v2\/tags?post=1174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}