The question of multi-generational houses is very complex. Both financially and emotionally there are numerous advantages and disadvantages, let’s see some of them.
In this house type which used to be very popular, grandparents, children and grandchildren lived together. All members could expect for the support of the family, but a lot of compromises were necessary for living in peace. Today, the generational differences are accentuated, so living together is not that simple than it was before. Mostly people prefer separation, but because of the economic situation more and more families move together with the older generations again.
Some people opt for this type of housing due to reduced construction sites, while others want to use the economic benefits it provides, such as shared overhead costs, or reduced travel costs. Last but not least in these living spaces, you can count on the experience and the time of older people whom the younger take care about in return.
If all levels of a multi-generational house are utilized, it can preserve the value of the property which contributes to the future value growth.
The disadvantage is that most of this giant, old house consumes a huge amount of energy and modernization is very expensive. On the real estate market several multi-generational house can be found, whereas the overall trend is still that young people prefer to move away, and the elderly are not able to maintain a huge property.
Once it comes to selling, many people face the problem that finding a buyer to a house with such a size and layout is not easy. If it is possible, converting the building into condominium can provide a solution to this situation.