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How To Find a Multi-Generational Home The Entire Family Will Love

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The definition of multi-generational is “two or more adult generations living under the same roof, or grandparents and grandchildren younger than 25″. Recently, there has been a significant growth of people deciding to take that option. Statistically, 64 million Americans currently live in a multi-generational household, which makes about 20% of the country’s population. 
There are different reasons for people to start living in this sort of living arrangement. The reasons go from young people who were living alone and could no longer afford that bachelor type of lifestyle, or older folks who were no longer capable of living by themselves. Whatever the logic behind it was, the result came out the same, multiple generations living under the same roof. And now you have to organize that home in a way that fits everybody’s needs. Check out our helpful tips about finding the right house for the entire family.

Choosing the Right Location Is Key

When it comes to real estate, the location you pick is always crucial, and even more so, if you are trying to fit people from different generations under one roof. Most young adults and elderly parents have separate interests, but it’s essential for everybody to be satisfied with the location of their home. First, make sure you are in the right area. If you like snow and want to be in the mountains, then Arizona might not be the right choice for you. However, if you enjoy the year-round sun and warm temperatures, then talking to a Phoenix real estate agent is a good idea. They are the ones specialized to help you with finding a place in that area. 

 

After you have decided where you would like your home located, then it’s time for specifics. If someone from your family isn’t able to drive, whether that is a kid or a retired parent, then you will need institutions, like a hospital or a school, on a walking distance. Finding the right school district is vital for your child’s education and overall security. Parks and walking trails are a necessity for people who like to spend time outside and want to enjoy nature. So make sure to find out as much as possible about the neighborhood you want to live in. 

Find a Home That Fits

First, consult with your family members and decide about the interior and exterior of your future home. Afterward, bring that to your real estate agent so they can start looking. General advice for people who want to own a house for multiple generations is to look for something versatile. 

 

There is a lot of value in multifunctional spaces. Wide spaces have proven to be beneficial, as well. That way, you can have paths for everyone to move through the house comfortably, thus protecting the safety of your youngest and eldest members. Because you are going to have multiple generations living there, your home should include two, or more master suites. Even in these types of living arrangements, privacy is achievable, so talk to your realtor about separate entrances and other ways to maximize everybody’s privacy. 

Don’t Be Afraid to Renovate

Once you present the ideas to your agent, they will likely advise you to look into renovating opportunities, or some people take it a step further and decide to build their own house. That allows you to have a lot more influence in the final look of your future home. Since everybody’s needs and wants are quite different, so are their dream homes.

 

Because of that, by renovating a property, you can implement your ideas and create the home you’ve always wanted. Before doing any of this, check the local zoning laws and see if the homeowner’s association permits renovating the property the way you were planning. Always talk to your buyer’s agent when you are buying with the intent of expanding, and if you want to renovate an existing house, consult your contractor.

Be Thorough With Your Budget Plans

People rarely become homeowners without obtaining a mortgage. And if more people plan on being included as owners, only the ones with good credit scores should be presented on the loan application. Banks consider all applicants’ credit scores when they are deciding on how big of a loan should be allowed. The fact that there are going to be multiple owners is also related to real estate taxes. Discuss with a tax adviser about how tax deductions work in your situation and make sure everyone’s on board.

About The Author

Taylor Parker is an American based writer and blogger. She is very passionate about family,              fashion, health, and lifestyle. Taylor writes mostly lifestyle articles, but also you’ll find her in          home improvement and other niches.  You can follow her on Facebook and Twitter

 


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