Could a Multigenerational Home Be the Right Fit for You?
Are you considering buying a new home in Spokane, WA? With the recent rise in multigenerational households, purchasing a multigenerational home could be a great option for you and your family.
According to the National Association of Realtors (NAR), multigenerational homes are becoming increasingly popular. This type of home is where families live together under one roof, including elderly parents, children who have returned home, or other extended family members.
If you're wondering whether a multigenerational home is the right fit for you, here are some reasons why it could be:
Affordability: A multigenerational home can make homeownership more affordable by allowing family members to pool their resources and share expenses.
Support: Living in a multigenerational home can provide the support that family members need to care for each other and offer emotional support during difficult times.
Accessibility: With elderly parents or grandparents living in the same house, you can ensure that they have the support they need as they age.
At NAR, we recently conducted a survey to understand why people choose to buy multigenerational homes. The chart below shows the responses we received:
Whether you're focused on financial savings or providing support to loved ones, a multigenerational home has many benefits. As Jessica Lautz, Deputy Chief Economist and Vice President of Economic Research at NAR, explains, "Multigenerational home buying is a way for families to care for one another, support one another, and often buy a home that may have been previously out of reach."
If you're interested in exploring your options for a multigenerational home in Spokane, WA, let's connect. Our team can help you find the perfect home to meet your family's needs.