Monday, 5 February 2024
The multi-generation game: is living with your parents and your children a good idea? How great would it be if you lived closer to family? You get to help each other out in so many ways: emotionally, physically, and financially. I’ve often had buyers tell me they want to be on a specific street or neighbourhood because their parents, in-laws, grandparents or siblings live there. They want to be able to be there to help and support each other, even if it means waiting for a house to come up for sale in the neighbourhood. I’ve even put letters out to specific streets a few times when that’s the case letting the neighbours know, hey, I have someone who wants to live in your specific neck of the woods.
Sometimes the option is to actually live in the same house with your family, for all the same reasons above. Accordingto the most recent statistics Canada census 2021, the number of homes shared by multi generational families of two or more families, or a family living with non related people has risen 45% in the last 20 years. It is most common among indigenous people and new arrivals to Canada. I suppose this is because this is what they’ve always done. In Europe, it’s very common to have multi generations all under one roof. By 2021, about 7% of the homes in Canada were occupied by multigenerational families. Noticing this trend, the federal government as of January 1st 2023, introduced the multi generations home renovation tax credit.
For whatever reasons that are meaningful to thoseinvolved, multigenerational living arrangements are a fantastic way to fill so many needs of everyone who will experience the joy of living together with their family. It’s been said that 2-3 generations coming to live together is extremely helpful to the emotional and physical needs of at least one of those people.
I remember talking with my husband in 2010 about selling our home and buying one with my father who had recently come to live with us. The three of us sat down and hashed out some ‘ground rules’. Once we felt we sort of had it figured out (you never really do but you go for it anyway), we started house hunting. We visited a few homes that had in-law suites. In fact, we almost put an offer in on one. We all liked it so much and it was the perfect set up for us. In the end we decided to stay in our current home with dad. It worked out just fine as we still had separate quarters, we just had to share a kitchen.
A big reason right now that many Canadians are turning to multigenerational living is to decrease their cost of living. That may be the reason but the side effects, if we can call it that, are so much greater. Living together allowed us to pool resources, and not just money. My father was skilled at construction and was able to fix a lot of things around the house. He would have us help him so we could learn how to do it as well. My husband taught him about gardening and finding the right plants for the right areas. I used to love to watch the two of them in the backyard, planning what would go where in the Spring. My dad would teach us about the ups and downs of home ownership and he had a plethora of funny stories of just about anything. The best thing was I got to get to know my father again. This time as a young woman just started out and his presence there made such a positive difference to us. Even though it was short lived due to his decreasing health, we have never regretted the time the three of us co-existed in our little red house together.
Here’s a couple of articles I found that you may find interesting if you’re thinking about combining households with friends of family members. It just might be a great option for you!
