Gen X, Millennials Bringing Back The Multi-Generational Home

Published On: May 21, 2019|Categories: Jasper IN Real Estate|Tags: Gen X homebuyers, Millennial generation, multi-generational home|

It seems hard to believe, but the first Gen Xers are turning 58 this year. As Gen X ages, their Millennial children are too. Gen X has adult children with their own children now. These generations are bringing back the multi-generational home. They’re doing it for financial reasons, to be nearer to family and even to help each other out as Gen X ages. Multi-generational homes used to be common, but for decades, they were much more rare. Now, Gen X and their adult millennial children are choosing to live in a multi-generational home. Actually, one in every six Gen X homebuyer is purchasing a home for multi generational use. Meanwhile, nine percent of older millennials purchase multi-generational homes, many of them to take care of an aging parent.

The multi ienerational home allows young people the chance to save for a down-payment and make financial decisions that are smarter. Because of these choices, younger millennials are more likely than any other generation to move right into home-ownership, skipping the apartment scene altogether!

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