In The News

Although California has witnessed a financial boom in recent years from the explosive growth of technology companies, this expansion has led to the emergence of what many would argue is the most significant housing crisis in U.S. history. The numbers are a little shocking if not surprising if you are currently a Bay Area homeowner: There are now more young adults living with their parents in the 18 to 34 age group than young adults.

The Solution: Multi-Generational Living

Finding a quality living space sounds like huge challenge, right? But there are some workarounds that offers comfort, independence and affordability that many people, from millennials to boomers, are looking for. Multi-Generational Living, or Aging in Place as it is sometime referred, may be a smart way to meet the state’s current housing needs. It enables two or even three generations to live together under one roof to share housing expenses.
 

Options for Multi-Generation Living

Greg May, UDCR (Universal Design Certified Remodeler) of May Construction can help you explore and find the best ways for your extended family to live together. One very cost effective way in the Bay Area, is to start by remodeling the home that you already have. For instance, you can add an accessory dwelling unit or master suite to your property, or move walls around to create a second master suite within the existing footprint. This, can yield a return on investment when the house is eventually sold. Homes can be remodeled to include wider doorways, open floor plans, and plenty of storage space to accommodate all residents. For families with aging adults, remodels can add safety features, while optimizing the property for accessibility. Through our Design/Build process, May Construction can help you meet the need and objectives of your lifestyle.
 

Whatever the reasons Multi-Generational Living appeals to you—cost savings, adding value to your home, or a way to reconnect with family members, it is important to realize that living more communally does not eliminate what people often cherish most about living alone: privacy, space, comfort and convenience. These qualities can even be enhanced with a well-engineered remodel designed for Multi-Generational Living.

Benefits of Multi-Generational Living:

1. Enable young and ambitious tech workers with to save more money for retirement or investments.

2. Avoid having to spend a median cost of $1.3 million for a modest home.

3. Provide greater financial stability and a higher level of care to aging parents who would otherwise have to deplete their savings to live in an expensive retirement home.

Other Areas that migh appeal to multi-generational living:

Aging in Place is a term used to describe homeowners who want to consider living in their homes as they grow older. May Construction can help design and build your home with this idea in mind which will enable you to live in your home as long as possible. Incorporating Universal Design principles into current remodeling projects can make Aging in Place comfortable and safe. Aging in Place has helped homeowners to maintain independence and has become a preferred lifestyle for many.

Adaptability. The ability to modify a space is another factor to consider when incorporating Multi-Generational Living into your home. Greg May can recommend additional support that may be required for future needs, such as grab bar placement or design cabinetry that can easily adapt to changing lifestyles. Planning in advance for future changes can be very helpful and can save homeowners time and money if changes are eventually.

Accessibility & Visitability. Incorporating features into your home for accessibility may be useful for family and friends who have limited mobility. Access into a home that is free from steps is another feature that is being incorporated in homes where accessibility is needed.
 

The Bottom Line

Multi-Generational Living will likely become one of the more compelling housing options here in the Bay Area over the next several years. Short term, it can certainly help to mitigate the housing crunch, and bring families together, while also offering each generation a nice balance of shared space, independence and privacy.