Buying a home together is something more families are considering, especially as multigenerational living becomes more common. For a long time, this type of arrangement had a reputation problem and was often seen as a fallback when something went wrong, like a job loss, a divorce, or a health issue.
That has changed.
More families are choosing this arrangement intentionally. It is a way to share costs, stay connected, and create a setup that works for how their lives actually function today. According to the National Association of Realtors, about 14% of buyers recently purchased a multigenerational home, after peaking at 17% the year before.
If this is something you are considering, or something that has come up in your family, here are the key things to think through before you start looking at homes.
Why More Families Are Choosing This
There is usually more than one reason.
Cost is often part of the decision. Buying together means multiple incomes contributing to the purchase and shared monthly expenses. That can make homeownership more manageable, especially in higher-cost areas like San Diego County.
For many families, buying a home together is both a financial and lifestyle decision.
Caregiving is a major factor. A significant share of multigenerational buyers are motivated by aging parents, with about 35% citing caregiving needs and another 32% wanting to spend more time with family. With more than 70 million Americans age 65 or older, this is becoming a more common consideration for many households.
Remote work has also changed the equation. Even though it has declined from its peak, it remains far more common than it was before COVID, making it easier for some buyers to live closer to family.
And then there are the day-to-day benefits. For families with young children, having grandparents nearby can make a significant difference. For families supporting aging parents, proximity can make care easier and more consistent.
If you are thinking about this, you are not alone. Many families are working through the same decision right now.
What to Look for in a Property
This is where many buyers get tripped up.
It is easy to assume a home will work if you like everything else about it. In reality, layout matters more than almost anything else.
The homes that work best for multigenerational living tend to have a few key features.
Privacy in the Layout
This is not optional.
Look for homes with features like dual primary suites, separate entrances, or a detached guest space. These are not just upgrades. They are what make the arrangement sustainable long term.
Each household needs space to function independently. Without that, the setup can become difficult very quickly.
Flexibility and Future Options
Accessory dwelling units, or ADUs, are becoming more common, especially in California where zoning has become more flexible.
A detached ADU can provide separation while still keeping everyone close. If a property does not have one, it is worth looking at whether the lot and local regulations would allow you to add one later.
Long-Term Functionality
Think beyond today.
Features like first-floor bedrooms, wider hallways, and step-free entries make a home easier to live in over time.
The best homes support both shared living and individual space. If a property only does one well, it is probably not the right fit.
The Conversations Families Often Skip
This is often the most overlooked part of the process.
Financial Structure
If multiple people are on the loan as co-borrowers, everyone shares responsibility for the debt and typically has an ownership interest in the property, depending on how title is held.
This is different from a co-signer. A co-signer helps a borrower qualify and is also responsible for the debt, but does not have ownership in the property.
Ownership Structure
There are several ways to hold title, including joint tenancy and tenancy in common. Each option affects what happens if someone wants to sell, refinance, or if ownership needs to transfer.
Ownership should be clearly defined from the start. It should not be based on assumptions.
Written Agreements
A written agreement can outline how expenses are shared, how maintenance is handled, and what happens if someone wants to move out or sell. When multiple family members are involved, ownership structure can also affect legal rights, tax outcomes, and future decisions about the property. Different ownership options can have very different implications, which is why it is important to consult with an attorney and/or estate planning professional before moving forward.
Planning for Changes
Life events such as job changes, health issues, or family changes can affect the arrangement. It is worth discussing these scenarios in advance so everyone understands how changes would be handled if circumstances shift, including what happens if someone needs to move out or sell.
Is This the Right Move for Your Family?
The answer depends on a few key questions.
Is everyone choosing this willingly?
Are the financial expectations clear and realistic?
Does everyone understand what shared living will feel like day to day, not just in ideal situations?
Families who answer these questions honestly tend to have better outcomes.
Bottom Line
Multigenerational living is no longer a fallback option. For many families, it is a deliberate strategy.
The financial benefits are real. The caregiving advantages are real. And when the setup is right, it can work very well.
What makes it successful is preparation: choosing the right property, structuring ownership correctly, and having clear conversations before moving forward.
If you want to explore what to look for in a property, you can read more in my guide to finding a home that fits your whole family.
If this is something your family is considering, feel free to reach out. I am happy to walk through the options and help you think through what makes the most sense for your situation.
The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.