Benefits of Multigenerational Living

What does it mean to have a multigenerational household and what are the advantages of this arrangement?

In recent years, there’s been an increase in the number of multigenerational homes in America. A multigenerational home is one where more than two adult generations live under the same roof or grandparents live in a home with grandchildren under the age of 25. For example, a multigenerational home may include a couple and their children and the parents of one spouse. Living under this arrangement can have many benefits, such as:

Increased bonding. When several generations live together, they’re likely to have more quality time to spend together. This means that there may be more opportunities for members of a household to bond over shared interests and activities.

Improved financial management. Sharing a home can be a smart financial decision. Having multiple adults of working age in the home means there are more people who can contribute financially to cover the cost of living.

Easier caregiving. For families that require caregiving responsibilities, sharing a home can make it easier to provide for everyone’s needs.

More efficient household management. When everyone contributes to household management, like completing chores and performing routine maintenance, these tasks become more efficient.

Sources: Keepingcurrentmatters.com, Gu.org, Tollbrothers.com

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