Friday Fun Facts – Building for Multi-Generational Living

The National Association of REALTORS® reports a significant increase in multi-generational home purchases, reaching 17% of all home purchases in the past year—the highest since 2013. This trend is driven by factors such as cost savings (36%), caring for aging parents (25%), adult children returning home (21%), and adult children who never left (20%).

Married couples constitute 58% of multi-generational home buyers, while single females account for 19%. The median age of these buyers is 57, with 77% aged 45 and above.

The “Sandwich Generation,” individuals balancing care for both aging parents and their own children, represents a significant portion of multi-generational home buyers. Among those purchasing for aging parent care, 29% also have children under 18 at home. Additionally, 17% of these buyers carry student loan debt, with a median balance of $30,000.

Multi-generational living arrangements offer financial and emotional support, fostering stronger family bonds and shared caregiving responsibilities. However, they also require careful management of privacy, space, and interpersonal dynamics.

Many builders in the Northern Colorado area are paying attention to this trend and are building homes that can cater to this type of living situation.

Source:  NAR