Multi-Generational Homebuying Hit a Record High – Here’s Why

Let’s talk about something that more and more buyers are seriously considering these days multi-generational living.

Whether it’s parents moving in with their kids, grown children living at home a little longer, or extended family sharing a space, this style of living is becoming much more common. In fact, according to the National Association of Realtors (NAR), 17% of recent homebuyers purchased a home to live with multiple generations of family. That’s the highest percentage NAR has ever recorded.

So, what’s fueling the shift?

It All Comes Down to Affordability

In 2024, 36% of buyers cited cost savings as the #1 reason they chose a multi-gen setup more than double what it was less than a decade ago.

While caregiving still plays a role (especially for aging parents), it’s clear that affordability is leading the charge. And honestly, it makes sense. With prices still high and interest rates giving people pause, more families are looking for creative solutions to make homeownership work. Teaming up with family? That’s one way to make it happen.

Pooling Resources = More Buying Power

Let’s say you’re struggling to make the numbers work on your own. Combining incomes with another family member could be the game-changer. You’re not just splitting a mortgage you’re also sharing utilities, groceries, and other day-to-day expenses. That kind of financial teamwork can open up options you might not have on your own.

Plus, you may be able to afford more house think extra bedrooms, a finished basement, maybe even that in-law suite you’ve been dreaming about.

Rick Sharga, CEO of CJ Patrick Company, puts it well:

“There are a growing number of multi-generational households across the country today, and affordability is one of the reasons for this.”

And it’s not just a temporary trend. According to recent data, 28% of buyers say they’re planning to purchase a multi-gen home. This shift is happening, and it’s happening for real reasons.

Is a Multi-Gen Home Right for You?

Here’s the thing multi-generational living isn’t a one-size-fits-all solution. But if your budget feels tight or you’re looking for a way to support your family while getting more out of your home, it’s definitely worth a closer look.

Let’s chat. I’m happy to walk you through what this could look like for your situation whether that means finding the right layout, understanding the financing options, or just talking through if this lifestyle would be a good fit.

Would you ever consider buying a home with family? Why or why not?
Let’s connect and explore your options. You might be surprised by what’s possible.