Ragona Sisters

Multigenerational Homes – A New Trend In Homeownership

Multigenerational households have not been a common living arrangement in Canada until recently. Statistics show that the amount of people living in multigenerational homes has been up by 35%. In this article, we will explore what multigenerational homes are, and the pros and cons of it, so you can decide whether a multigenerational home is right for you or not.

Multigenerational homes refer to multiple generations, typically 3 generations living under the same roof including grandparents, parents, and children.

Benefits Of Multigenerational Homes

Living in multigenerational homes offers a plethora of benefits to you and your family including having emotional support, shared homeownership expenses, improved safety, shared household responsibilities, and so on.

You Will Always Have Someone There For You!

One of the major perks of living in a multigenerational home is the enhanced support system it provides. With multiple generations under one roof, there is always someone available to lend a helping hand or offer guidance when needed. Whether it’s grandparents assisting with childcare, parents providing financial support, or siblings offering emotional comfort, having a strong support network within your own home can be invaluable.

Sharing Homeownership Expenses Like Mortgage And Utility Bills

Housing cost is a major reason for an increase in multigenerational homes. A major advantage of multigenerational living is the opportunity for cost-sharing and lowering per-head expenses. By pooling resources, families can significantly reduce their financial burdens. Sharing expenses such as mortgage payments, utility bills, groceries, and even transportation costs can make a substantial difference in everyone’s budget. This allows each member to save money and allocate resources towards other important aspects of life.

Emotional Well-Being Through Companionship

Living in a multigenerational home provides built-in companionship that can greatly improve emotional well-being. Loneliness and isolation are common issues faced by many elderly people and empty nesters today. However, when multiple generations share a living space, there is always someone around to talk to or spend time with. This constant social interaction helps combat feelings of loneliness and contributes to overall improved mental health.

Increased Safety And Security

Having multiple generations living together can also enhance safety and security within the home. Elderly family members may feel safer knowing that there are younger individuals around to assist them in case of an accident or health-related issue, meanwhile, the young ones can be looked after by the grandparents while the parents are away instead of hiring a babysitter. .

Challenges Of Multigenerational Homes

Limited Space And Lack Of Privacy

One of the major challenges faced in multigenerational homes is the lack of privacy and personal space. With multiple family members sharing the same living quarters, it can be challenging to find moments of solitude or engage in activities without interruption. However, with a growing trend in multigenerational homes, architects and homebuilders’ associations are keeping these factors in mind and designing homes that can accommodate multigenerational living without compromising space or privacy. Some builders are advertising themselves as multigenerational builders, and future housing types and city structures will change as increasing demand for multigenerational homes is looming!

Scope Of Conflicts & Disagreements

When you have individuals from various age groups living together, clashes can occur due to differences in lifestyle choices and perspectives. Each generation may have their own set of values, beliefs, and habits that they are accustomed to. This can lead to disagreements on topics such as parenting styles, household rules, or even simple matters like meal preferences. .

Navigating these challenges requires open communication, mutual respect, and a willingness to compromise. By fostering an environment of understanding and empathy, many conflicts can be resolved or even prevented altogether. .

Living in a multigenerational home brings an array of benefits that can enhance your family’s bond and quality of life. So why not consider embracing the benefits of multigenerational homes? .

Connect with The Ragona Sisters and let’s help you find a home that is perfect for you and your family! Call us at 647-691-7778.