The Benefits of Multigenerational Living
June 21, 2018
A growing trend in the housing industry is multigenerational living. According to PEW research, 1 in 5 households are multigenerational. These growing numbers are reminiscent of the 1950s when multigenerational households were at 21 percent before the current day lifestyle took over. BSB Design has a solution that makes multigenerational living enjoyable for everyone under one roof. It creates a close family bond, yet still gives each person the privacy they want. Not to mention, it’s efficient on the financial side of things.
EXPANDING THE IN-LAW SUITE
Our approach enhances the typical in-law suite found in many homes by adding its own entrance, kitchen, living area, laundry, and even a garage spot. Essentially, it becomes an apartment attached to the main home. If you intend to be in a home for a long period of time, buying a multigenerational-focused home for future plans may be a smart move. In the meantime, the space can be used for visitors, short-term rentals such as Airbnb, or even a long-term tenant.
Housing for older parents or in-laws in assisted living facilities is expensive. The national median
monthly rate for a typical one-bedroom unit is $3,500. That’s $42,000 a year! Not to mention if additional care is needed, the price nearly doubles. The multigenerational suite is a suitable solution to the cost of assisted living, and it allows family members to be near in case of an emergency.
If and when you decide to sell your home, the multigenerational features will add to the home’s appeal and value. Multigenerational design can help during resale because it creates flexibility and opportunity. Buyers will love the idea of a home that can accommodate their current and future family needs.
IMPROVING FUTURE SUCCESS
A study done in 2013 showed that children born into single-parent households that also lived with a grandparent had improved school performance and overall well-being. There’s more support for children with multiple adult influences in the home.
More traditional living arrangements are making a comeback, and it’s obvious why after seeing these benefits. Check out our reNEWable Living Home or Sterling Ranch – Super Home designs to see for yourself!