This year challenged us to reprioritize everything – from the way we use our time to where we work, how we socialize and gather together, and our needs at home, some are Living Under One Roof.
For many, this also meant making decisions about how to best support and engage with our extended families, near and far.
These changes led more homebuyers to invest in multi-generational homes to accommodate more long-term plans.
A multi-generational home, according to the 2020 Profile of Home Buyers and Sellers from NAR, is a home that has adult siblings, adult children over the age of 18, parents, and/or grandparents in the household.
A recent study from NAR shows that since the health crisis began, there’s been an increase in purchasing trends for homes that cater to this dynamic:
“Buyers who purchased after March were more likely to purchase a multi-generational home at 15% compared to 11% who purchased before April.”
There are many reasons for this uptick in preference toward multi-generational homes.
Bottom Line
More homeowners are making arrangements to accommodate their loved ones so they can safely take care of them at home.
If you’re in a similar situation, let’s connect to discuss your options in our local area and maybe even have your whole family under one roof by early this year.
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