Living with multiple generations can be beneficial to all parties involved. Older generations can take pleasure in being surrounded by their grandchildren or other younger members of the family,
avoid feeling isolated as they get older, and receive assistance with their own needs as they get older. Additionally, younger generations may receive guidance from their parents or other older relatives, financial assistance, and assistance with child care.
However, there are a few important issues you need to address before purchasing a home and entering a multigenerational household, including the following.
Which kind of property is best for you to use?
Living with multiple generations can be done in a variety of ways. A shared single-family home is one option. A duplex or similar two-family home is another option. A main house with an in-law apartment that is either separate from or attached to the main property is a third option.
The cost structures and levels of privacy offered by these various choices vary. You should consider your home-buying budget and the lifestyle you want to live in the best possible way.