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Multigenerational homes grow in popularity

March 8, 2010 - More prospective homebuyers are looking for living accommodations that can house extended family members, new research suggests.

According to a recent survey from Coldwell Banker Real Estate, a total of 37 percent of realtors who responded indicated an increase in the number of families looking for homes that could accommodate older relatives, the Los Angeles Times reports.

These professionals anticipate that the trend will continue through this year. Financial issues, healthcare issues and strong family bonds were the primary issues for choosing these types of homes, the researchers revealed.

Experts suggest that individuals who are interested in these types of homes consider their needs before hitting the market. They may want to decide whether they want to have a separate dwelling for an older relative, or convert the space above the garage or in the basement into an attached apartment.

Whatever they decide, these individuals should "think beyond [their] needs in 2010 and think about what those needs might be 10 years from now," Doug Dickstein, owner of caregiving agency Right At Home, told the news source.

A recent study from Pew revealed that approximately 50 percent of individuals between the ages of 18 and 24 still live with their parents - a statistic that could contribute to this growing trend in the real estate market.

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