
Multi-generational living is at an all-time high in MD. Is it right for you?
17% of Maryland homebuyers are purchasing multi-generational homes, joining together with parents or adult children to share the cost of housing in the Old Line State. This 17% rate is an increase from the 15% of last year and is the highest rate the National Association of Realtors has ever recorded. The multi-generational housing trend is on the rise in Maryland, but is it right for you? Here are the benefits and what adjustments might be made.
Affordability is the reason over 30% of Maryland homebuyers are choosing to share the mortgage with family members. Not only can you better afford the mortgage, but you can also share the cost of utilities and eventual home improvement and maintenance costs.
Some privacy is beneficial for separate families, but having family on the same property can be a huge blessing. You can appreciate and bond with each other, sharing precious time and supporting each other as family should. The primary reason multi-generational living exists is to provide special care for family members who need it, but there are added benefits for all parties.
With a shared mortgage, there’s a bigger chance you can afford a more expensive (and also more expansive) house. Certainly, you would have dedicated rooms for each person and a few shared living spaces, but with the right design, it can be a great accommodation for all with more space.
With the right housing arrangement and features, your multi-generational house can be future-proofed for special needs and growing families.
A multi-generational house often has these features:
Ameri-Star Homes, based in Glen Burnie, MD, builds customizable homes in central Maryland. If you want to pursue homeownership with us, we’re happy to work with your vision.
Ameri-Star Homes was built on the idea that a home is not complete until the homeowner is 100% satisfied. That’s right, completely satisfied homeowners. Whether you want a home built on one of our home sites or on your own land, count on the same high quality from Ameri-Star. We have set out to exceed all your expectations of integrity, affordability, and customer satisfaction. Build lasting memories for years to come with Ameri-Star Homes.
For more information, contact us today at 410-590-1000 or through our contact page. For more helpful custom home tips, keep in touch with us through Facebook, Twitter, LinkedIn, Instagram, and Pinterest!
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