Demand for Multigenerational Homes Has Boomed During the Pandemic

By V.L. Hendrickson : mansionglobal – excerpt

During a time of separation, the Covid-19 health crisis moved many families to buy more room for children and grandparents

U.S. home buyers are looking to go big.

Multigenerational homes were more popular than ever in 2020, with 12% of buyers purchasing such a residence, according to a report Tuesday from the National Association of Realtors.

Generation X buyers, those between the ages of 41 to 55, were the most likely to do so, with 18% buying a property for several generations of their family last year, the data showed. About 17% of the oldest buyers, above age 75, purchased similar homes in 2020.

“There are a variety of reasons why large families and extended families are opting to live together, one of which is that it’s a great way to save money,” Jessica Lautz, vice president of demographics and behavioral insights for the National Association of Realtors, said in the report. “Also, in light of the pandemic, many grandparents and older relatives found that being under a single roof—quarantining with family rather than away—worked out better for them.”…(more)

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