Only a couple of generations ago, multigenerational homes were commonplace. Grandmas, fathers, and daughters all under one roof. Sometimes even great grandpa would join them. In a multigenerational home, there were more adult eyes looking out for the little ones. There were more people to help with chores. Families were often more bonded, because of multigenerational homes. Of course, that had ended for some time.
Now, back by popular demand: The multigenerational home.
This time though, it’s Gen X and their adult millennial children. A whopping one in every six Gen Xer purchase multigenerational homes and over half of them do that because their children either never left home or have moved back. Gen Xers weren’t the only ones to buy multigeneration homes though. About nine percent of older millennials also purchased multigenerational homes and about a third of them did that to take care of their older parents and nearly another one-third of them bought a multigenerational home to spend more time with their parents. Check out this explanation by NAR chief economist, Lawrence Yun:
“While these multi-generational homes may not be what a majority of Americans expect out of homeownership, this method allows younger potential buyers the opportunity to gain their financial footing and transition into homeownership. In fact, younger Millennials are the most likely to move directly out of their parents’ homes into homeownership, circumventing renting altogether.”
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Please consider our team at Alex MacWilliam Real Estate whether you’re selling your home or looking for a new one. We love helping make people’s dreams come true. Plus, we’re experts in this area. Want to find a place to golf in Vero Beach? Just ask one of our skilled realtors while touring your potential new house! Our realtors will try to answer any questions you might have about amenities you can find nearby. Also, check out our Vero Beach relocation guide.
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So, if you are considering relocating to Vero Beach, please contact us today. Our real estate team is extremely knowledgeable about the area and can find the perfect home for you. Call us at 772-231-6509 to talk to a Realtor® in Vero Beach, FL today. We can search the MLS and find your dream home.