New Family Trends Driving New Housing Demand
Builders are catering to multi-generational households.
CLOVIS, Calif. (KFSN) -- A growing number of Valley families are living under one roof. Several generations are coming together, for both financial and caretaker reasons. Home builders are recognizing this trend and offering new options for these multi-generational households.
The Valley is seeing a housing boom again. But the type of home being built is fairly new. DeYoung Properties now offers what they call multi-generational floor plans, essentially, a second private living space within the home. Unlike traditional in-law suites, these have separate entrances. Ashley DeYoung: "You could use it as a mother-in-law, your grandparents, you can use it as a home office, a child who wants their own independence and their own entry into the home." DeYoung says once families hear about the multi-gen option, they get excited: "We want to be ahead of the curve and we want to be providing things you might not realize what you want and then when you get here wow this is amazing I would love that separate space."
Much of what's driving this demand for this type of home is the aging baby boomer population. Studies show one in six Americans currently lives in a multi-generational household. And that number is expected to grow. By the year 2050, the population aged 65 and over is projected to be nearly 84 million.
Homebuilder Lennar recognized this trend, and was the first to introduce a "Next Gen" line in California in 2011. Each of their models has a main house. But within it, is a private suite with a kitchenette, sitting area, bathroom, laundry and bedroom... a home within a home. Lennar's Next Gen models start in the low $300,000s. The DeYoung Multi-Gen models start in the mid $300,000s.
