New Type of Buyer - Multigenerational

According to a recent survey by Coldwell Banker, more buyers are looking for multi generational homes. 37 percent of sales professionals surveyed noted an increase in homebuyers looking to purchase homes to accommodate more than one generation of their family. In addition, almost 70 percent of Coldwell Banker sales agents believe that economic conditions may cause greater demand for multi-generational homes in their market during the next year.

The survey indicated thatthe No. 1 reason why home buyers or sellers are moving into a house with other generations of their family was financial. (39 percent). Twenty-nine (29) percent said that health care issues are the primary reason, and six percent cited a strong family bond as the main factor.

While saving money is certainly an incentive for buying a home that accommodates multiple generations, the benefits go beyond just financial reasons. With two or three generations living under one roof, families often experience more flexible schedules, quality time with one another and can better juggle childcare and eldercare. No More Mother-in-Law Jokes!

Helpful Hints:

• Sellers with "mother in-law suites" or additional spaces that could accommodate a family interested in a multi-generational living arrangement should highlight this aspect of the home. Whether it's a garage apartment or refurbished basement, this separate space can help one home stand apart from the others on its block.

• Buyers must be clear about their exact needs. Some families may just want an extra bedroom or two for family members, while others require areas with a separate kitchen, entrance, handicap accessibility or even a larger garage for additional cars. Desired location may also be influenced by proximity to local hospitals, senior centers or other important activities to family members.

If you are looking for a multigenerational home for your own family, you should definately give Lise Howe a call at 240-401-5577 or email her at lise@lisehowe.com.

www.lisehowe.com

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