According to the National Association of Realtors (NAR) multi-generational homebuying hit a record high at the end of 2024, with 17% of buyers purchasing a home to share with their parents, adult children, grandparents, or extended family. This is the highest percentage ever recorded by the NAR.
In the past, caregiving was the leading motivator and while that's still a major factor for many people looking to buy a home, the #1 motivator is now affordability. And with current market conditions, it's not a big surprise.
With more people finding it difficult to afford a home on their own, families are teaming up and pooling their resources. By sharing expenses and combining incomes, multi-generational living offers a way to overcome financial challenges that might otherwise put homeownership out of reach, especially for young adults.
Does this solution make sense for you? Reach out to our agents to discuss the options available to you and figure out what would be best for you and your loved ones. We're here to help you make your real estate dreams a reality.
