Pew Research reports that in 2014, a record 60.6 million Americans lived in homes having two or more adult generations or grandparents and grandchildren. That’s a 30% increase from the prior seven years, however multi-generational living is simply returning to the norm.
Back in the early 1900s, more than half of all senior citizens lived with their children or with their children and grandchildren. Between 1950 and 1980, there was actually an abnormal drop in multi-generational living as television promoted the go-it-alone, “John Wayne.” lifestyle.
Down through history, wealthier families always lived together in large, multi-generational dwellings. With Millennials staying or moving home and seniors living decades longer than any other time since Biblical Genesis, we home builders are taking notice. If living with extended family is good enough for Southfork Ranch and Downton Abbey, why now give it some thought.
One builder advertises his multi-generational home plans as “two homes for the price of one.” We like to think of it as a completely autonomous apartment inside of the main house or a home within a home.
Financial savings aren’t the only benefits of multi-generational living. Caregiving becomes easier, child care becomes automatic, and children form tighter bonds with older family members. In fact, recent studies also suggest that children growing up in multi-generational households have higher performance in school than those who do not. Other research reveals that seniors who spend more time with grandchildren live longer.
We’d love to show you the many, many options of multi-generational home design. Call TK Kneedler at 972-345-3368 for the details.
What will the DFW housing market look like in 2018? Well, Realtor.com predicts that only Las Vegas will have a stronger home market than the greater Dallas market will have this year. With its 6 percent expected increase in home sales, there just aren’t enough existing homes on the market to cover that need.
2017 Chairman of the Texas Association of Realtors, Vicki Fullerton explains one of the reasons for DFW's blazing hot market housing. She says, “The diverse job opportunities and high quality of life in Texas continue to drive in-state and out-of-state migration.” Fullerton also reports that Dallas-Fort Worth had the most new out-of-state residents and that even southern and central Texans are flocking to the DFW area.
Jennifer Cloud, Rockwall real estate attorney says of the DFW homes market, “I'm here to tell ya, our inventory shortage in the DFW area is the real deal. If you can find a lot and a builder who has time to build, that may just be your best option for now. Either way, stop waiting.”
Now’s the time to build your custom home. If you’re ready, TLK Custom Homes is ready to build it for you, on your lot or ours.