The traditional model of leaving the family home to set up on your own when you start your own adult life is no longer an automatic assumption for a number of social and economic reasons.
A growing number of families are coming around to the view that it can work if everyone from children to grandparents agrees to live under one roof and embrace the potential advantages that come from multigenerational living.
There are bound to be some challenges, of course, and the grandparents might need some hearing aids that offer natural sound and unrivaled comfort so that they don’t have to have their TV volume too loud, for instance, so could it work for your family?
Here are some of the key pros and cons to multigenerational living.
Running a household costs money in terms of paying for utilities, maintaining the property, and other expenses, which is why it makes economic sense to share that financial burden.
If the costs are shared across a number of adults in the house it will mean that everyone should be better off from a financial perspective and it could allow younger adults to save money for a future point when they decide to leave.
Readymade childcare facilities
As well as the benefit of having regular contact with the grandparents and making sure they are alright it becomes easier to ensure that the children in the home have someone they know and love to look after them.
Single parents will save on childcare costs and grandparents will get the chance to form an even closer relationship with their grandchildren.
Good for your health
There have been studies that support the idea that multigenerational households improve their chances of enjoying better longevity and health.
The thinking behind this is that the emotional support many loving families provide each other translates into feelings of wellness and promotes an improved health profile.
Running a household is a challenge and you can spend a lot of your spare time doing regular chores such as cooking and cleaning.
Another benefit attached to multigenerational living is the ability to share these household chores, reducing the burden on parents and allowing more quality family time when everyone pulls together and takes on a few chores each.
A greater feeling of security
Many grandparents will most likely feel more secure when they living with their families.
With someone always at home the property will also benefit from an improved security profile, but it is the fact that the whole family is under one roof and look out for each other that really provides that extra feeling of security.
Multigenerational living is not always a bed of roses, naturally enough, there are bound to be a few adjustments that need accounting for.
These include a potential lack of privacy and a greater level of noise in the house with an increased number of people all living under one roof.
When you weigh up the pros and cons, do you think multigenerational might work for your family?