Empty Nests and Full Houses

Article submitted by Holly Kelps with ERA American Hometown Real Estate.
For more information, she may be reached at 847-516-2020.

Remodeling for Departing Kids and Returning Parents

The American family is ever-changing, and its primary space, the home, has always changed with it. The present day is no exception: The largest segment of the American public, the baby boom generation, is entering retirement age in high numbers, and confronting "empty nests" when the kids go off to college or marry and move out permanently, presenting the challenge of what to do with the sudden extra space.

There is also the perennial family responsibility of caring for older relatives as their health needs require them to move back in with their grown children and in-laws. Many homeowners are opting to add that extra room - or rooms for returning relatives, or setting up a separate but accessible space for them. Before you do this, there are a number of questions to address, including what local zoning ordinances will allow for additions, and how the aesthetics and size of the addition will affect resale value. There are also family matters to make sure everyone understands. While some younger families move grandma in with them, some older ones sell the house to a son or daughter and move into the addition themselves. In all such situations, it's important to agree beforehand who owns what part of the house, whether rent will be charged, who will pay for any extra utility or property-tax costs, and other sensitive issues that don't have to become divisive ones.

The right real estate professional can give expert guidance. Programs like the SRES ("Seniors Real Estate Specialist") designation available to ERA Real Estate professionals are one guarantee of expertise in senior concerns, and programs like ERA(r) Select Services are one great way of finding reliable contractors and possible discounts. Consult with your local real estate office, and no matter how your house may change, it will remain a place where everyone feels at home.