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Multigenerational Living

All articles tagged with #multigenerational living

"Exploring the Pros and Cons of Multi-Generational Living: Is It Worth It?"

Originally Published 2 years ago — by The Guardian

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Source: The Guardian

Multigenerational living, where multiple generations of a family live together in the same household, is becoming increasingly popular and aspirational. A survey by Legal & General found that nearly half of adults believe it would be a good thing if multigenerational living became more common. However, the number of households with three generations living together in the UK is relatively low, with around 1.8 million multigenerational households. The lack of suitable properties and financial support from the government are cited as barriers to its growth. Some purpose-built properties exist, but most people rely on adapting existing properties. Despite the challenges, many families find multigenerational living beneficial, providing support, childcare, and a close-knit family environment.

From Tiny Home to Dream Home: How a 24-Year-Old Achieved Homeownership at a Fraction of the Cost

Originally Published 2 years ago — by Fortune

Featured image for From Tiny Home to Dream Home: How a 24-Year-Old Achieved Homeownership at a Fraction of the Cost
Source: Fortune

A 24-year-old woman saved money to buy a $250,000 house by living in a tiny home her parents built for her in their backyard. Over five years, she saved on rent and food expenses, estimating potential savings of up to $72,000. With her parents' help, she purchased her own house, putting down 3% and securing a mortgage. The trend of young adults living with their parents to save money has increased, and arrangements like hers, known as accessory dwelling units (ADUs), are becoming more common. She credits her parents' support and plans to live in a family compound in the future.