Multigenerational Homes The Hottest Real Estate Trend

Multigenerational Homes The Hottest Real Estate Trend

Image titleIt’s becoming more common to see several generations of one family living under the same roof. Homebuilders are responding to this emerging trend with multigenerational housing that gives each generation its own living space.  


Susan Bady

"According to the Pew Research Center, approximately 51 million Americans (or 16.7 percent of the population) live in a house with at least two adult generations, or a grandparent and at least one other generation. Pew also reported a 10.5 percent increase in multigenerational households from 2007 to 2009."  Susan Bady

The concept of multiple generations living in the same house is nothing new.  It was common place before World War II where farm families and families’ relocation from other countries lived together in the same household. 

Today's trend is "the Sandwich Generation" (so called because they elderly parents and children still living at home), actually up-sizing to accommodate all under one roof while still have separate and private areas demanding a new style of multi-generational homes.  

With the elderly relatives living in the home, builders have designed first-floor bedroom suite as a standard feature in their multi-generational homes.  Many builders have specialized names for their homes such as Lennar calls their homes Next Gen homes.  Many of the designs have apartment-like area with a full living area, kitchen, and sometimes even a laundry room and garage.  

With the demand increasing in the Phoenix area for these homes, and the fact that the real estate market has low inventory coupled with high demand, builders are unable to keep up with building at all levels.  It will be interesting to watch as the market changes with the different generation changes in the real estate market.


Barb England Headshot
Author:
Phone: 602-321-7109
Dated: April 26th 2018
Views: 196
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