{"id":2297,"date":"2025-06-30T11:00:19","date_gmt":"2025-06-30T11:00:19","guid":{"rendered":"https:\/\/lakeandhomes.com\/blog\/multi-generational-homebuying-hit-a-record-high-heres-why\/"},"modified":"2025-06-30T11:00:19","modified_gmt":"2025-06-30T11:00:19","slug":"multi-generational-homebuying-hit-a-record-high-heres-why","status":"publish","type":"post","link":"https:\/\/lakeandhomes.com\/blog\/multi-generational-homebuying-hit-a-record-high-heres-why\/","title":{"rendered":"Multi-Generational Homebuying Hit a Record High \u2013 Here\u2019s Why"},"content":{"rendered":"
\"Multi-Generational\n

Multi-generational living is on the rise. <\/strong>According to the National Association of Realtors<\/em> (NAR), 17%<\/a> of homebuyers purchase a home to share with parents, adult children, or extended family. That\u2019s the highest share ever recorded by NAR (see graph below<\/em>):<\/p>\n

\"a<\/a>And what\u2019s behind the increase? Affordability<\/strong>. NAR explains<\/a>:<\/p>\n

\n

\u201cIn 2024, a notable <\/em>36% of homebuyers cited \u201ccost savings\u201d as the primary reason for purchasing a multigenerational home<\/em><\/strong>\u2014a significant increase from just 15% in 2015.\u201d<\/em><\/p>\n<\/blockquote>\n

In the past, caregiving was the leading motivator \u2013 especially for those looking to support aging parents. And while that\u2019s still important, affordability is now the #1 motivator. And with current market conditions, that\u2019s not really a surprise.<\/p>\n

Pooling Resources Can Help Make Homeownership Possible<\/strong><\/h4>\n

With today\u2019s home prices and mortgage rates, it can be hard for people to afford a home on their own. That\u2019s why more families are teaming up and pooling their resources.<\/p>\n

By combining incomes and sharing expenses like the mortgage, utility bills, and more, multi-generational living offers a way to overcome financial challenges that might otherwise put homeownership out of reach. As Rick Sharga, Founder and CEO at CJ Patrick Company<\/em>, explains:<\/p>\n

\n

\u201cThere are a few ways to improve affordability, at least marginally. . . purchase a property with a family member \u2014 there are a growing number of multi-generational households across the country today, and affordability is one of the reasons for this.\u201d<\/em><\/p>\n<\/blockquote>\n

But this strategy doesn\u2019t just help with affordability. It may even allow you to get a larger home than you\u2019d qualify for on your own and that gives everyone a bit more breathing room. As Chris Berk, VP of Mortgage Insights at Veterans United<\/em>, explains<\/a>:<\/p>\n

\n

\u201cMultigenerational homes are more than a trend: They are a meaningful solution for families looking to care for one another while making the most of their homebuying power.\u201d<\/em><\/p>\n<\/blockquote>\n

And momentum may be growing. Nearly 3 in 10 (28%) of homebuyers say they\u2019re planning to purchase a multi-generational home.<\/strong><\/p>\n

Maybe it\u2019s a solution that would make sense for you too. The best way to find out? Talk to a local real estate agent who can help you decide if this option would work for you.<\/p>\n

Bottom Line<\/h3>\n

If your budget feels tight, buying a multi-generational home could be a smart solution.\u00a0<\/p>\n

Would you ever consider buying a home with a family member? Why or why not?<\/strong>\u00a0<\/p>\n

Connect with an agent to talk through your options.<\/p>\n<\/div>\n

The post Multi-Generational Homebuying Hit a Record High \u2013 Here\u2019s Why<\/a> first appeared on Sandpoint Realty<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Multi-generational living is on the rise. According to the National Association of Realtors (NAR), 17% of homebuyers purchase a home to share with parents, adult children, or extended family. That\u2019s the highest share ever recorded by NAR (see graph below): And what\u2019s behind the increase? Affordability. NAR explains: \u201cIn 2024, a notable 36% of homebuyers […]<\/p>\n","protected":false},"author":1,"featured_media":2298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sandpoint-real-estate"],"_links":{"self":[{"href":"https:\/\/lakeandhomes.com\/blog\/wp-json\/wp\/v2\/posts\/2297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakeandhomes.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakeandhomes.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakeandhomes.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakeandhomes.com\/blog\/wp-json\/wp\/v2\/comments?post=2297"}],"version-history":[{"count":0,"href":"https:\/\/lakeandhomes.com\/blog\/wp-json\/wp\/v2\/posts\/2297\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakeandhomes.com\/blog\/wp-json\/wp\/v2\/media\/2298"}],"wp:attachment":[{"href":"https:\/\/lakeandhomes.com\/blog\/wp-json\/wp\/v2\/media?parent=2297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakeandhomes.com\/blog\/wp-json\/wp\/v2\/categories?post=2297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakeandhomes.com\/blog\/wp-json\/wp\/v2\/tags?post=2297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}