Bigenerational houses are an increasing popular real estate purchase, and for good reason!

Nevertheless, living in such close proximity with one’s extended family is not for everyone. However, if you are considering this option, you may find several reasons that validate your choice. Indeed, there are many advantages to sharing a bigenerational residence. Here are six.

Most people flourish in a social environment, especially in one where different generations live alongside each other.
Most people flourish in a social environment, especially in one where different generations live alongside each other.

1. The Joy of Togetherness

Two families sharing a single house may be for some people a significant drawback, but not so for households that have chosen the bigenerational model. With children, parents and grandparents all under the same roof, caring for elderly family parents is much easier, contributing to everyone’s peace of mind. Moreover, depending on the family’s situation, being able to pass on culture, traditions and language daily from one generation to the next is very valuable. The grandparent can likewise look after the kids when they’re out of school. In exchange, the younger family members can assist their elders with technology, among other tasks.

2. A Boon for the Household Budget

By sharing household costs like the Internet connection, mortgage, power, maintenance and repairs or renovations, all occupants get to save a little money. Different levels of government offer tax credits and tax refunds, which can all amount to thousands of dollars! Some cities, including Montreal, even have programs to facilitate transforming a single-family residence into a bi-generational house.

Finally, bi-generational homes have a higher resale value. In fact, housing market statistics show that while bi-generational properties generally stay longer on the market than traditional homes, they often sell for 15% more than comparable residences.

By combining the resources of two families, it is possible to buy a larger home in a more sought-after area.
By combining the resources of two families, it is possible to buy a larger home in a more sought-after area.

3. A Custom House at a Lower Cost

By working with an architect or specialized firms, you’ll discover just how possible it is to build a beautiful multi-generational residence that suits your style. Whether you love classical or modern homes, a multigenerational house plan can be adapted to your housing preferences and needs. Plus, pooling the funds of both families makes it much easier to purchase and maintain such a home.

For example, buying a waterfront home on a tree-lined lot is beyond many people’s means, but by combining incomes, this dream can become a reality.

4. Simplified Day-to-Day Living

Communal living comes with its own set of issues: noise complaints, sharing chores, division of responsibilities, etc. Making sure everyone can, for the most part, get along is essential. Achieving this means peaceful day-to-day cohabitation.

Indeed, this form of living arrangement offers a soothing feeling of closeness as well as a sense of security and well-being for all members of the household. For shy people, it will also be easier to borrow a cup of sugar or a tool from your neighbour since they are part of your family. As for extroverts, they will always have someone to talk to. In short, everyone is better off, and life is more pleasant in a bi-generational home.

5. Always Having Someone There

With bigenerational living there is always someone around you can count on. You can travel abroad worry free as there will be a trustworthy person available to care for the house, the pets, the garden, the children or even the houseplants. Both families can take turns keeping an eye on things while one of them is away. Peace of mind guaranteed!

The sharing of knowledge is also a great advantage of living with one’s elders.
The sharing of knowledge is also a great advantage of living with one’s elders.

6. A Better Quality of Life

A 2014 study published in the United States shows that for healthy adults sharing a place of residence increases life expectancy. One factor is the emotional support that comes with living with one’s parents, grandparents or adult children, not an insignificant benefit of life in a bi-generational home.

Adults living with aging parents or grandparents living with their grandchildren are an increasing appealing option for families these days. It would not be surprising to see a growth in the number bigenerational homes on the market in coming years!