More and more families are coming together under one roof — and the numbers prove it. According to the National Association of Realtors (NAR), 17% of recent homebuyers purchased a multi-generational home to live with parents, adult children, or extended family — the highest percentage NAR has ever reported (see graph below).
So, what’s fueling this shift? In a word: affordability. NAR notes:
In 2024, a notable 36% of homebuyers cited “cost savings” as the primary reason for purchasing a multigenerational home—a significant increase from just 15% in 2015.”
While caregiving used to be the top reason for choosing this kind of setup — especially for aging parents — today’s economic conditions are driving more families to join forces financially.
Sharing Costs, Gaining Options with a Multi-Generational Home
With higher home prices and mortgage rates, going solo on a purchase can be a challenge. That’s why pooling income and expenses is becoming a practical path to homeownership in the Triangle area for many. Whether it’s the mortgage, utility bills, or groceries, splitting costs makes it all more manageable.
Rick Sharga, Founder and CEO of CJ Patrick Company, puts it simply:
There are a few ways to improve affordability, at least marginally. . . purchase a property with a family member — there are a growing number of multi-generational households across the country today, and affordability is one of the reasons for this.”
But it’s not just about cutting costs. Buying with family might also mean qualifying for a larger home in Raleigh, giving everyone a bit more space and comfort. As Chris Berk from Veterans United explains:
Multigenerational homes are more than a trend: They are a meaningful solution for families looking to care for one another while making the most of their homebuying power.”
And this trend isn’t slowing down. In fact, nearly 28% of buyers say they’re planning to purchase a multi-generational home in the near future.
Could this be the right move for you, too? Linda Craft Team Realtors can help you explore whether this setup makes sense for your needs and goals.
Bottom Line
If you’re feeling stretched by today’s home prices, a multi-generational home in the Triangle area could be the key to affording more while enjoying the benefits of shared living. Whether you’re combining resources to make homeownership more attainable or looking for a space that better suits your extended family’s needs, this option can offer both financial relief and everyday convenience.
Would you consider teaming up with family to buy a home? Contact Linda Craft Team Realtors today to explore available homes in Raleigh and the surrounding areas, understand your financing options, and find the right fit for your unique situation.