real estate

Multigenerational homes a family solution

More economical than alternatives
More economical than alternatives © bikeriderlondon/Shutterstock.com

More economical than alternatives

The all-in-one floor plan also keeps costs lower, Maracay's Canzonetta says. "Since it's all under the same roof, the financing options are the same as for a traditional home."

"With respect to mortgages," says Perlman, "these are single-family homes with one person on the mortgage. In most cases, a senior parent moves into the 2Gen suite. His adult children who need more space occupy the main residence. The senior parent is usually the source of the down payment, and the adult children are responsible for the loan. It's far more economical than seniors living in nursing homes."

As a financial planner, Moser says, the economics of buying a multigenerational home where his father could also live "made huge sense to me, as opposed to buying my dad another home. It made economic as well as emotional sense. He helped out with the down payment on the new house, which is important because he felt he was contributing, and he saved $1,000-$1,500 a month in expenses."

While the homes are too new to have entered the resale market, "We think they will have great resale value in the future because of growing demand," says Lennar's Roos.

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