Multi Generational Homes
As Americans are getting older and as families from different generations decide to live together to help each other both in real and economic terms, the demand for multi-generational homes has increased. With the recent increase in housing prices while the economy and most households’ finances still in recovery mode, it is now making more sense for families to live in homes within a home. In fact, the Pew Research Center report that approximately 51 million Americans now live in a home with at least two adult generations.
What are multi-generational homes?
These are homes that allow for an extended family to live together in a set up that allow for some degree of privacy for each family or family member. Multigenerational homes typically have multiple homes/units within the property that have separate living quarters with their own kitchen/kitchenettes, bedrooms, dining, and living rooms. They can also be larger homes that have at least one or two master suites and ideally with a bedroom located downstairs or single story homes that are friendly to the needs of the elder family members. The most typical set up are existing homes that have casitas, attached guest houses or detached guest houses with separate entry, or homes with an attached studio or guest quarters that are set up above a two car garage. The average total size of a comfortable multi-generational home that allows for maximum privacy is anywhere from 3500 sq ft to 4500 sq. ft. The newer multi-generational home offerings offer an attached homes with three to four car garages and multiple master suites with at least 4-5 bedrooms and up to 5 and half bathrooms anywhere from 4600 sq ft to 5200 sq ft total. In San Diego County these newer built homes being built by the larger builder cost up to the low $1,000,000 range. There are of course existing home options on houses with guest houses that cost less. Seek the help of a real estate professional who specialize in multi-generational real estate to find the best options for you and your family.
Find San Diego homes with Guest Houses by clicking here.
Advantages of Multi-Generational Homes
- It is good for relationships and families are pleased when they find arrangements in multi-generation homes that are less crowded and offer maximum privacy.
- Affordable housing payments with several members helping to make the payments from their various income sources.
- Literally, in-house support for the elder members and guidance and support for the much younger members of the family (free baby-sitting).
- Multi-generational homes may be an excellent way to receive supplemental income which help subsidize total housing expenses. It is also a great launching pad for adults who need an affordable place to stay while completing their studies or launching their career/business.
Disadvantages of Multi-Generational Homes
- The dynamics of multiple families living in one roof may cause strife depending on the personalities of the each member of the family.
- Financial impact of shouldering most if not all of the housing costs when a family or a member or two leaves due to significant life events. A family or individual member’s stay can be transient or temporary in nature.
- There may be extra costs in improving the floor plan of homes to accommodate the living, comfort, and privacy needs of each family/member.
- The emotional impact of the lost of independence and feeling of being truly alone and lost of total privacy.
The home within a home is like getting two homes with one payment, making living together affordable, comfortable and flexible to your needs.”
Multi-Generational Home Search Options in San Diego County
In San Diego County, the best way to start your search for multi-generational homes are finding existing homes that have either an attached or detached guest houses or larger homes with at least two master suites. Builders are now also responding the multi-generational living demand and there are now new development homes that are being built to meet this need. Call us for more information at 760-798-9024 for both existing and new home options. Below you will find a link to search for homes with guest houses in the area.