Multi-generational households are destined to be a growing trend, with both adult children moving in with parents and vice versa. A recent survey from PulteGroup indicates these generational households are driving decisions about owning homes, renovating them, and how homeownership is viewed.
Financial reasons may be the main force behind the decision to combine generations under one roof, but family bonding, too, is a reason families cite for the shift. Home builders need to be aware of this, PulteGroup says.
“Adjusting to more family members in your home can be a challenge,” said Scott Thomas, national director of product development for PulteGroup. “Offering flexibility is key, as well as options such as dual master suites to larger great rooms, it’s important that homebuilders understand how to best meet the demand of multi-generational households.”
Nearly three quarters—or 72%—of those with aging parents currently living with them or planning on it will renovate or purchase a new home, and 49% of homeowners with adult children living with them or planning on doing so will renovate or purchase a new home, the survey finds.
Written by Elizabeth Ecker