Downsizing, Retirement, Trends

Multi-Generational Living, it’s Becoming a Trend

A trend that is often cited by urban planners is the shrinking household size. There are less of us living in each  home now for various reasons, therefore home size should shrink. This last year, average home square footage has inched downward for the first time.

However, there is a counter-trend of household size increasing due to more generations living together. Grandparents moving in with their children’s families is something  Realtors are seeing more and more of recently. It’s a trend we became aware of as more immigrants buy houses locally, as it is very common in other cultures worldwide. Now it is escalating out of economic necessity. As our economy constricts more of us rugged individualist Americans are realizing that all of that independence can get expensive. See an AARP article here with stories of families that moved together, and tips for making it work.

So, if you have a larger house to sell to downsize, do not fear! Demand is slowly rising again. Or, you may want to move the kids in….and the grandkids too!

Some types of  houses lend themselves better to accommodating multiple generations. For many families, having more than one kitchen makes a huge difference.

To add a separate living unit, nothing beats the Seattle area’s seemingly endless supply of basement ramblers and split entrys! These were built in north and south parts of Seattle and Bellevue, and the close-in suburbs from the 1950’s thru the 1970’s. They are also the cheapest to buy per square foot. They usually have 3 bedrooms and 1 or 2 bathrooms on the main level, and most already have bathrooms in the lower level, and adding another kitchen there is usually pretty easy.   If you do remodel, be sure to visit your city planning office and get the necessary permits. While you are there, ask if you can make your extra unit a legal accessory unit, (MIL) as this will add value at resale time. In some areas you may be able to make it a legal duplex, which is even better.

Another approach is to finish an attached garage. Again, check with your local planning and building dept first, as they may want to know where the cars are going to park.

Sometimes you can be lucky and find a property with 2 houses on it already. These are rare, but we do see them. Seattle has a provision to add detached accesory units in some parts of the city. This could be new construction, or possibly a garage conversion.\

Update: msnbc report 3/12/09