Real estate news

The increasing popularity in multi-generational homes

Michele Lerner reports on the growing popularity of multi-generational homes and how they can work for your family in this recent article for The Washington Post. 

Lennar began building its Next Gen homes about a decade ago during the financial crisis to help families who needed to take care of their aging parents and to make homeownership an affordable option for families to share expenses, says Jon Jaffe, co-president and co-CEO of Lennar. Today, between 5 and 10 percent of all Lennar homes include a Next Gen suite.

“Our multigenerational homes were created to help families deal with the financial challenges of aging parents and to help make the family connections that are missing in our society today,” says Jaffe. “We’ve found that these multigenerational homes are a game-changer psychologically that are making a profound difference to make it easier for families to live with their loved ones.”

Approximately 20 percent of Americans, about 64 million people, live in a household with two or more adult generations, according to a 2018 study by Pew Research Center.

“The separate entrance is an important feature and allows for as much or as little interaction between family members as they want,” Jaffe says. “It provides tremendous flexibility.”

Flexible floor plans are also a priority for many buyers who anticipate evolving family configurations and want to be prepared with the privacy and space to accommodate every family member.

Continue reading the full article here.

Anna Young

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