Why More Americans Are Buying Multi-Generational Homes Than Ever Before (And Why You Might Too)

Let’s face it—buying a home in today’s market feels like climbing Everest in flip-flops. Prices are high, mortgage rates are stubborn, and saving for a down payment? That can feel like chasing a mirage. But what if there’s a solution that not only eases the financial burden but also brings your loved ones closer?

Welcome to the rise of multi-generational homebuying.

According to the National Association of Realtors (NAR), a record-breaking 17% of homebuyers are now purchasing homes with the goal of living with parents, adult children, or extended family. That’s no small jump—and it’s not just about love and togetherness anymore. It’s about survival, savings, and making smarter financial choices.

Let’s dive into why this trend is exploding and how it might just be your golden ticket to homeownership.

The #1 Reason People Are Going Multi-Gen? Affordability

In 2024, 36% of buyers cited “cost savings” as the main reason for choosing multi-generational living. Compare that to just 15% in 2015, and you can clearly see the shift. While caregiving for elderly parents or raising kids under one roof was once the primary motivator, now it’s the rising cost of living that’s fueling the fire.

And honestly? It makes perfect sense.

Buying a home solo can feel impossible in today’s market. But team up with mom, dad, your adult kids, or even your cousins—and suddenly you’ve got more income, a bigger down payment, and a better shot at approval.

Pooling Resources: A Smart Strategy for Modern Homebuyers

Let’s break it down. When you buy a home with family:

• You split the mortgage

• You share the utilities

• You divide maintenance costs

• You can afford a bigger home

• You get to build equity together

Think of it as forming a financial Avengers squad. Everyone contributes a piece of the puzzle, and together, you get a stronger, more secure future.

According to Rick Sharga, Founder and CEO of CJ Patrick Company:

“There are a few ways to improve affordability… purchasing a property with a family member is one of them.”

This isn’t just about saving money—it’s about building wealth together. You’re not just renting a place and watching your paycheck vanish every month. You’re investing in something real, long-term, and valuable.

More House, More Freedom (and More Elbow Room)

Let’s be honest: no one wants to feel cramped—especially when multiple generations are under one roof.

That’s the beauty of multi-generational homebuying. Combining incomes often means you can qualify for a larger property. Maybe that means an extra bedroom, a finished basement, a second living room—or even a completely separate in-law suite.

Chris Berk, VP of Mortgage Insights at Veterans United, puts it perfectly:

“Multigenerational homes are more than a trend: They are a meaningful solution for families looking to care for one another while making the most of their homebuying power.”

So it’s not just about affording a home. It’s about affording the right home for everyone’s needs—without sacrificing comfort, privacy, or quality of life.

Is Multi-Generational Living the New Normal?

You’re not alone if you’ve been considering this route. According to NAR, 28% of future buyers say they’re planning to go multi-gen.

Why? Because it just makes sense. The benefits go way beyond the wallet:

• Built-in babysitters for the little ones

• Shared caregiving for elderly parents

• Emotional support from loved ones

• Reduced stress from financial burdens

• Stronger family bonds

And let’s not forget—it’s incredibly practical. With remote work becoming the norm and more flexible home layouts on the market, it’s easier than ever to live together without stepping on each other’s toes.

Should You Buy a Multi-Generational Home?

If you're nodding your head or even just thinking about it, here are a few questions to ask yourself:

• Are high home prices making it hard to buy on your own?

• Do you have family members willing (and able) to team up financially?

• Would you benefit from a bigger space at a lower shared cost?

• Are caregiving responsibilities influencing your housing decisions?

If you answered yes to any of these, multi-generational living might be your ticket to financial freedom.

The Bottom Line: Shared Homes, Shared Success

In a world where affordability is getting harder to come by, buying a home with family could be the smartest move you make. You get more financial power, more space, and more support—all under one roof.

So, what do you think?

Would you consider buying a home with a parent, child, or sibling? Why or why not?

Let’s chat about your goals, your options, and how this rising trend could work for you. A trusted local real estate agent can help guide the way—because this isn’t just a trend. It’s a movement.

And it might just be your next best move.