SeniorsResourceGuide.com/NorthernColorado/Multigenerational

Multigenerational Housing
A Good Match for Families in Northern Colorado

Article submitted by Seniors Resource Guide.com Staff
Website: www.SeniorsResourceGuide.com

The movement of single families to larger and larger homes has been common in the U.S. for the past 10+ years. In the past few years the impact of the economy and loss of jobs has put downsizing in the news for not only the traditional empty nester but for families looking for lower housing costs. Now another trend is making news - Multigenerational Housing.

Traditionally Multigenerational Housing refers to 3 or more generations living in one single-family residence. In today's current economic climate there are variations of the three generations scenario where adult siblings are moving in together and adult children are moving back in with their parents due to the pressure of the economy. Another variation is elderly parents moving in with their adult children who have young children. This living arrangement can be due to economic reasons, daily care issues and a solution for long term care for the elderly parent.

Multigenerational Housing in Northern Colorado

We are seeing many different sizes of homes coming up for resale and brand new builds that are designed for multigenerational family living. The wide-open rural feel of Northern Colorado is a good match for this housing niche and many families (elders and their adult children) want the small community option that cities and small towns in the area offer. What is interesting is to see the multigenerational family group pooling their assets and income to move into a home that accommodates all generations in the family.

The "Mother-in-Law" Apartment and More ...

The traditional "Mother-in-Law" Apartment has been the common real estate term for years and it suggests multigenerational housing in a "single family residences." The movement to combine households and combine income and assets to purchase real estate can help preserve family assets in the long run in regard to caring for an older adult as their needs change. The implication of this movement is that one of the adult children living in the multigenerational home will become the primary caregiver of the elder when the need arises. Hopefully with careful financial pre-planning there is long term care insurance and savings to help with the financial needs of the elder in case of severe illness.

The Personal Side of Multigenerational Housing

The personal side of Multigenerational Housing is impacted positively by the close proximity of adult children when their elderly parents have a health crisis. None of us like to contemplate a medical crisis of a family member but what is far worse is when the medical crisis happens and the immediate family is thousands of miles away. In many cases the medical crisis does not resolve immediately and then the adult children have the added pressure of maintaining their job responsibilities while they feel drawn to be with their ill parent as they slowly recover. One of the biggest benefits of Multigenerational Housing is that the immediate family is in the same home and same town so the long distance commute to deal with a health crisis is not an issue.

Relationships of Grandchild, Grandparent and Adult Child ...

When three generations move into a single-family residence for the long term there are adjustments in everyone's lifestyle. When the move is made as a well-thought out master plan the benefits can be enormous. Many elders like the privacy and space of a single-family residence but homeownership comes with a lot of maintenance. By combining multiple generations in one home, the younger generation living in the multi generational home take on the job of heavy duty home maintenance while the elders in the family assist with the less physical family needs, as they are able. Family needs can be as simple as having an ongoing relationship with young grandchildren in the home to assistance with daycare depending on the age of the elder and the age of the grandchild. The extra space in the multigenerational home also allows for more personal affects of the elderly parent to be kept, displayed and enjoyed in the later years of their life.

Want to know more ...


If you would like more information about Multigenerational Housing contact us – Click Here