$\"Multi-Generational$ \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

\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><\/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
\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><\/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
\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><\/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\n<\/body>","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":5825,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-5824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2025\/06\/20250630-Blog-Header-Image-original.png?fit=750%2C410&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pdz2Zu-1vW","_links":{"self":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/5824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/comments?post=5824"}],"version-history":[{"count":0,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/5824\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media\/5825"}],"wp:attachment":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media?parent=5824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/categories?post=5824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/tags?post=5824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}