Sell my House in Harris County GA | Multigenerational Households May Be the Answer to Price Increases

November 21, 2017

Multigenerational Households May Be the Answer to Price Increases | Simplifying The Market

Sell my House in Harris County GA

Multigenerational Households May Be the Answer to Price Increases

At a local level in Harris County GA, buyer confidence remains strong with some changes that varies on the price level and what type of houses they are looking for. As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home.

Today, I would like to talk to you about Multigenerational Households May Be the Answer to Price Increases

  

Another report that proves this point is the National Association of Realtors’ (NAR) 2017 Profile of Home Buyers and Sellers which states that 13% of home buyers purchased multigenerational homes last year. The top 3 reasons for purchasing this type of home were:

  1. To take care of aging parents (22%, up from 19% last year)

  2. Cost savings (17%)

  3. Children over the age of 18 moving back home (16%, up from 14% last year)

Valerie Sheets, Spokesperson for Lennar, points out that,

“Everyone is looking for the perfect home for any number of family situations, such as families who opt to take care of aging parents or grandparents at home, or millennials looking to live with their parents while they attend school or save for a down payment.”

For a long time, nuclear families (a couple and their dependent children) became the accepted norm, but John Graham, co-author of “Together Again: A Creative Guide to Successful Multigenerational Living,” says, “We’re getting back to the way human beings have always lived in – extended families.”

This shift can be attributed to several social changes over the decades. Growing racial and ethnic diversity in the U.S. population helps explain some of the rise in multigenerational living; “Data suggest that multigenerational living is more prevalent among Asian (28%), Hispanic (25%), and African-American (25%) families, while U.S. whites have fewer multigenerational homes (15%).”

Additionally, women are a bit more likely to live in multigenerational conditions than are their male counterparts (12% vs. 10%, respectively). Last but not least, basic economics.

Valerie Sheets brings to light the fact that home prices have been skyrocketing in recent years. She says that, “As home prices increase, more families tend to opt for living together.”

Bottom Line 

Multigenerational households are making a comeback. While it is a shift from the more common nuclear home, these households might be the answer that many families are looking for as home prices continue to rise in response to a lack of housing inventory.

To show my commitment to my clients, I will utilize the latest technology, know-how and information allowing me to bring you the best and highest offer for your house. 

To connect with me directly, Please call John at 706.662.0125
Or via email:  bunn947@gmail.com

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