{"id":22646,"date":"2025-08-07T18:14:36","date_gmt":"2025-08-08T00:14:36","guid":{"rendered":"https:\/\/woodriverweekly.com\/?p=22646"},"modified":"2025-08-07T18:14:36","modified_gmt":"2025-08-08T00:14:36","slug":"multi-generational-homebuying-hit-a-record-high-heres-why","status":"publish","type":"post","link":"https:\/\/woodriverweekly.com\/index.php\/2025\/08\/07\/multi-generational-homebuying-hit-a-record-high-heres-why\/","title":{"rendered":"Multi-Generational Homebuying Hit a Record High \u2013 Here\u2019s Why"},"content":{"rendered":"

BY ANNA & MICHELLE<\/em>
\nMulti-generational living is on the rise.\u00a0According to the\u00a0National Association of Realtors\u00a0(NAR),\u00a017%\u00a0of 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):<\/p>\n

\"\"<\/p>\n

And what\u2019s behind the increase?\u00a0Affordability. NAR\u00a0explains:
\n\u201cIn 2024, a notable\u00a036% of homebuyers cited \u201ccost savings\u201d as the primary reason for purchasing a multigenerational home\u2014a significant increase from just 15% in 2015.\u201d<\/p>\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
\nWith 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\u00a0CJ Patrick Company, explains:
\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
\nBut 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\u00a0Veterans United,\u00a0explains:
\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<\/p>\n

And momentum may be growing. Nearly 3 in 10 (28%) of homebuyers say they\u2019re planning to purchase a multi-generational home.
\nMaybe 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<\/strong>
\nIf your budget feels tight, buying a multi-generational home could be a smart solution.<\/p>\n

Would you ever consider buying a home with a family member? Why or why not?
\nLet\u2019s connect to talk through your options.<\/p>\n","protected":false},"excerpt":{"rendered":"

BY ANNA & MICHELLE Multi-generational living is on the rise.\u00a0According to the\u00a0National Association of Realtors\u00a0(NAR),\u00a017%\u00a0of 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?\u00a0Affordability. NAR\u00a0explains: \u201cIn 2024, a notable\u00a036% of homebuyers cited \u201ccost savings\u201d as […]<\/p>\n","protected":false},"author":479,"featured_media":22648,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","_pvb_checkbox_block_on_post":false,"footnotes":""},"categories":[64,38],"tags":[],"class_list":{"0":"post-22646","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-better-homeowners-news","8":"category-sponsored"},"_links":{"self":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/22646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/users\/479"}],"replies":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/comments?post=22646"}],"version-history":[{"count":1,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/22646\/revisions"}],"predecessor-version":[{"id":22649,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/22646\/revisions\/22649"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/media\/22648"}],"wp:attachment":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/media?parent=22646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/categories?post=22646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/tags?post=22646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}