Is multi-generational housing the future?

BY YAHYA KARIM

Back in the day, moving out of your parents’ house was a massive milestone in your life. You would find your own place, build up your independence, and start a family. Though with the current state of the house market, more and more families are asking; is the future of housing buying a new one, or moving back in together?

Let’s look at what’s happening. In major cities such as Toronto, or Vancouver it has become almost impossible to own a house. It has been a struggle for young people to save up such a large sum of money, and the saving for the down payment can feel like a never-ending battle. Some families have found the solution to this problem is to turn to multi-generational housing.

This new trend isn’t exactly new. Multi-generational living has always been a part of different cultures, such as the Caribbean culture. In these cultures, families share the space, meals, and responsibilities. Though now this is becoming a trend for all families of all backgrounds, especially in cities where housing is very expensive.

“In a world where housing is becoming a luxury, family may be the key to a stable home.”

Why is this happening?

The first reason is simple: money. Living with your family means the cost of living such as food, or utility bills are all split. For young people who might have student loans to pay off, or a low paying job, this can be a financial lifeline they need, to get back on their feet and start to save up for their own house. While for older adults, this can give them a few more years with their children and save them from the cost of caregiving.

Another reason is emotional support. Living with your families means living with people who care, love you, and understand you. This can help many young adults that might be feeling stressed out while trying to make a life for themselves. It creates a support system within the family. For example, the grandparents could take care of the children, while the adult children take care of their aging parents. It is a win-win in many ways.

Of course it’s not all smooth sailing

Privacy is hard to come by when you live with your family, and trying to navigate through different expectations and lifestyles can be tough. Imagine explaining to your grandma why it’s fine to work in your pajamas or explain to your parents why you spent $300 on some new shoes. These challenges require patience, understanding, and clear boundaries between everyone that resides in the house.

Another major issue is space. Most homes were not built to accommodate multiple generations. When there are not enough bedrooms for washrooms, things can get tricky quickly. For example, maybe your sister wants her own room, but you simply don’t have enough room in the house, so she has to share a room with you. Problems like this can be fixed by renovating houses to the family’s needs. Although this can be expensive, it can also be the best choice for families committed to multi-generational housing.

Is this the future of housing?

With the price of houses rising, while inflation also continues to rise in Canada, it is very possible that multi-generational housing be adapted by many more families than before. Although people might still keep that dream of one day owning their own house, until they achieve that level of financial independence, multi-generational housing might prove to be the best option.

Multi-generational housing might just prove to be the future of the housing industry. For now, it does not seem that prices of houses and rent will be decreasing, so multi-generational housing seems ideal even five to 10 years into the future. In a world where housing is becoming a luxury, family may be the key to a stable home.