Buyers, are you in the market to purchase a home and are wondering if the best way to navigate affordability challenges is to buy and live in the same house with your parents, grandparents, or other loved ones?
Hi, I’m Tanja Odzak, eXp Realty, I help people sell and buy homes right here in the East Bay!
As a buyer shopping in the latest housing market, you are probably navigating affordability challenges with the current rates and inventory. While the latest housing reports show an increase in inventory nationally and a dip in rates, some market areas (like in the East Bay) are still experiencing low inventory for existing homes. A lot of people are choosing to pool their money with family to purchase a multi-generational home where everyone can live together to expand their options.
But is this the right decision for you too? According to the National Association of Realtors, these are the top reasons buyers chose to purchase a multigenerational home over the past year. Let’s see if they resonate with you and if it might be a good option for you too.
Heath/caretaking of aging parents. 27% chose multi-generational homes to take care of aging parents more easily.
19% of buyers said they did it To spend more time with Aging Parents. Many older adults want to age in place, but sometimes living with family could be a great option for everyone as it could provide more flexibility and independence, as well as strengthen family ties and improve mental, emotional, and physical health.
Cost Savings. 22% of buyers said this was a great option for them because it cut down on costs. Some of the other common cost saving benefits were childcare, and that there’s only one household to maintain instead of two and thus a lower combined cost of living.
11% of buyers of multi-generational homes said they Wanted a larger home that multiple incomes could afford together. Sometimes this could also mean getting a more desirable neighborhood, higher rated schools, or a home with more amenities.
While purchasing a multi-generational home can help offset affordability challenges, it can also be trickier than searching for a more typical home because there are more people, and thus more needs and housing requirements to be met.
Call me today and let’s talk about it. I’m a seasoned East Bay expert with a 5-Star rating. I’ll help you navigate the market and make it happen, whether that’s selling or buying or both!
And if you or someone you know needs to sell a home, ask me about my home-selling plans.. I took the pain out of negotiating with a Realtor and made it SUPER simple. Really! Choose Silver, Gold, or Platinum- Pick your Plan and Pick your Price. Terms do apply. I’m Tanja and I sell homes. Let’s get you going, Call me today!
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?
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