Although your home
may have been housing a traditional family of a mom, dad and two kids, savvy
real estate agents will tell you that in order to attract more buyers, staging
your house as one fit for multi-generations is the way to go.
More parents and grandparents are
finding a need to move in with family, as many can no longer afford the
increasing rates of the adult communities where they once lived. Furthermore,
the economic climate is forcing many kids to return home once their schooling
is done.
A recent multi-generational study
conducted by the Pew Research Center, Washington, D.C., revealed that
multigenerational living has been on the rise over the past decade, fueled by
demographic and cultural shifts.
“One of the things that struck me
about this change is that it’s coming from all directions,” said Paul Taylor,
author of the report. “More young adults are moving back home, more elderly are
moving in with their middle-age children and more middle-aged children are
moving back with their elderly parents.”
Data from the study shows that in
the 10-year span between 2000 and 2009, the number of households practicing
multi-generational living increased to 33 percent, with more than 49 million
Americans currently living in homes with three or more generations.
Real estate professionals are
tending to highlight features such as finished walkout basements and bonus
bedrooms today more than ever. That’s why when your agent tells you that
switching out your office or transposing the basement play area to one that
resembles more of a bedroom is the way to go, you should be listening.
When selling your home, you need to
look at the process from the perspective of all buyers, not just yours. Consider
how a multigenerational family might use the various spaces available, and give
prospective homebuyers options to easily transform from single-family to
multigenerational living.
Therefore, any home that contains
bonus space is a viable candidate for a multigenerational buyer who’s planning
to bring an ill or out-of-work family member back into the fold.
Experts agree that intergenerational
living is easier when each family subunit has its own space. “Everyone who is
going to share the home should have a private area of their own,” said Amy
Goyer, a multigenerational expert at AARP. “It is best if there is more than
one common area so that children and adults have spaces to relax in without
everyone having to spend all their free time in the same room together.”
Multigenerational house design can
be applied to just one structure or can be accomplished with two or three units
to keep families together while preserving their independence and privacy.
According to Cam Marston, author and
founder of the research firm Generational Insight, there are a number of
benefits for different generations of a family living together. “It’s less
expensive, obviously, but more importantly, they can learn from one another,”
Marston said. “Separating generations keeps them aloof from the trends and
important things impacting each generation. When they are all under one roof,
they can grow up sooner and stay young longer. It works on both ends of the
generations.”
Another thing for home sellers to
consider when it comes to attracting multigenerational buyers is the home’s
accessibility for people who might be living with aging parents who use wheel
chairs or walkers.
Creating a complete, accessible
living space on one level with safety features can make a home attractive to
people of all ages.