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Multigenerational Living – What You Need to Consider

Denver, CO
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The post read: “Looking for a psychiatrist – caring for parents.”  There were many comments with referrals.  One comment said – “I think you need help – what can I do for you.”

Families have changed.  Children moved away. Everyone works.  Everyone is busy.  As parents age, many folks think about combining households.

64 million Americans live in multi-generational households.  41% of Buyers are considering it.

Multi-generational living can be rewarding, but, also stressful.  Here’s some things to consider:

  1. What’s parent’s health situation? Can they manage the basic activities of living? Is their condition expected to deteriorate and can you manage?
  2. How much care can you provide?
  3. Are you aware of resources to help you?
  4. What’s your current housing situation – Need to make changes? Need to move?
  5. How will finances be divided?
  6. Can the Parent adjust to their new situation?
  7. Will the family dynamic be able to adjust? Consider privacy, noise, crowding, vacations.
  8. Do you have, and have you discussed an exit strategy?
  9. Is your important paperwork in order?

It can be a precious time, filled with memories.  Just make sure you know what to expect.

Editor’s Note: This article was submitted by Robyn Lewis-Oglesby, SRES, PRES, CLIPP, CASL. Robyn is a Realtor with K&R Home Transitions / Equity Colorado Real Estate and may be reached at 720-437-8210

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Colorado - Denver Metro