Intergenerational housing, also known as multi-generational housing, is a type of housing arrangement where multiple generations of a family live together under one roof. This can include grandparents, parents, children, or extended family members such as aunts, uncles, and cousins.
In recent years, there has been a growing trend towards intergenerational housing in Canada and the Quinte area, which is having a significant impact on the real estate market.
One of the main reasons for the increase in demand for intergenerational housing is the rising cost of living. As the cost of housing, healthcare, groceries, and other necessities continue to rise, many families are finding it difficult to make ends meet. By living together, multiple generations can share housing costs and other expenses, making it more affordable.
Another reason for the trend towards intergenerational housing is the changing family dynamic. In the past, it was common for children to leave home after high school and start their own families. Today, many young adults stay at home longer to save money or pursue higher education. This means there is a growing need for housing that can accommodate multiple generations and offer privacy to parents with adult children living at home.
The trend towards intergenerational housing is also being driven by changing demographics. As the population ages, more seniors need support and assistance with daily living. By living with their families, seniors can receive the support they need while still maintaining their independence. Seniors living with their family members and hiring a PSW often costs less than supportive care and retirement facilities.
The increase in intergenerational housing is having a profound impact on the real estate market. For one thing, it is leading to a demand for larger homes with more bedrooms and bathrooms. In the past, the typical family home was a three-bedroom, two-bathroom house. However, as more and more families are living together, there is a growing demand for homes with four or more bedrooms and three or more bathrooms. Add in the pandemic trend of working from home, calling for more home offices which often exist in spare bedrooms.
Additionally, the trend of moving toward more intergenerational housing is leading to the development of new housing types. For example, many developers are building homes with separate entrances and living spaces for each generation, such as in-law suites, accessory apartments, duplexes, and more. This allows each family member to have their own privacy and space while still being able to live together under one roof.
The trend toward intergenerational housing in the Quinte area is having a significant impact on the real estate market. As more families choose to live together, there is a growing demand for larger homes and new types of housing. This is leading to changes in the way homes are built and designed, and it is shaping the future of the real estate market.
Newest MLS listings in Quinte and PEC
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2878 County Road 15
Prince Edward County, Ontario
3118 County Road 10 Road
Prince Edward County, Ontario
Century 21 Leading Edge Realty Inc.
19 Ambrosia Terrace
Quinte West, Ontario
1973 County 30 Road
Brighton, Ontario
41 Cortland Way
Brighton, Ontario
2992 County Road 10
Prince Edward County, Ontario
1 Reynolds Place
Prince Edward County, Ontario
895 English Settlement Road
Quinte West, Ontario
42a Hill Street
Prince Edward County, Ontario
20 Stinson Avenue
Belleville, Ontario
Century 21 Heritage Group Ltd.
113 South Trent Street
Quinte West, Ontario
201 - 36 Hollow Lane
Prince Edward County, Ontario
23 Schmidt Way
Quinte West, Ontario
8 Catherine Street
Prince Edward County, Ontario
29 Schmidt Way
Quinte West, Ontario
27 Schmidt Way
Quinte West, Ontario
11858 Loyalist Parkway
Prince Edward County, Ontario
25 Picton Main Street
Prince Edward County, Ontario
220 Easterbrook Road S
Prince Edward County, Ontario
9 East Mary Street
Prince Edward County, Ontario
201 - 344 Front Street
Belleville, Ontario