The Rise of Multi-generational Housing

As the economy continues to be slow to recover, many people will find themselves living in situations they are not used to in order to save money.  One instance of this is multi-generational housing, or more than 2 generations of one family living under the same roof.  Although it doesn’t always necessarily need to be more generations; it could be brothers, sisters, aunts, uncles, or cousins living together.

There are many reasons for consolidating your family under one roof.  For parents, you could be returning to school, saving money for a house, or just need to get out of debt.  Maybe you just want to live in a nicer, safer neighborhood and partnering up with a set of grandparents or brother/sister is your ticket out.  There could have been an extenuating circumstance like a bankruptcy, loss of job, divorce, debilitating injury, disease, or death in the family.

So you are all living together, now what?  Getting along is crucial, especially since this is your home.  In order to make the best out of your situation, it’s time to define the living space.  Make sure boundaries are clearly defined.  Discuss the circumstances as a group; get everyone on the same page.  Be clear about finances: Who will be paying for what and when?  The clearer you are up front, the better things will be in the long run and you will be better equipped to handle situations as they arise.  Good luck and happy saving!

If you need to add more space to your home, the professionals at Tip Top Remodeling specialize in room additions.

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