{"id":14818,"date":"2021-10-20T15:00:00","date_gmt":"2021-10-20T19:00:00","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?p=14818"},"modified":"2021-10-20T15:01:34","modified_gmt":"2021-10-20T19:01:34","slug":"why-mixed-generation-housing-in-nyc-is-great-for-everyone","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/blog\/why-mixed-generation-housing-in-nyc-is-great-for-everyone\/","title":{"rendered":"Why Mixed Generation Housing in NYC is Great for Everyone"},"content":{"rendered":"\r\n

Grandma and Grandpa don\u2019t want to live on the other side of the city from their grandkids anymore. And why should they? Intergenerational housing in New York City is not a new thing, but it is increasingly popular, especially in the wake of the pandemic.\u00a0<\/p>\r\n\r\n\r\n\r\n

As Baby Boomers retire in droves, Gen X and millennials get on with raising kids, and Gen Z knocks on the door of independent living, everyone is looking for ways to make life better.\u00a0 Multi-generational housing offers enriching opportunities to connect with family at different stages of life, and that\u2019s good for everyone. Native New Yorkers are ready to head back to Bay Ridge, the West Village, and beyond to raise their kids close to their extended family while balancing work demands, and often it\u2019s smart to do that under the same roof.<\/p>\r\n\r\n\r\n\r\n

Spreading the responsibility around<\/h2>\r\n\r\n\r\n\r\n

Any time there are more than two adult generations living together under one roof, that qualifies as multi-generational housing according to the U.S. Census Bureau. Think about the college kid coming home or the family with young children moving the grandparents in. Where this was once considered a negative mark, more and more it\u2019s become socially acceptable for families to live together. Judgement is out and family living is in. That incredible apartment in Chelsea with eight spacious closets and decadent hardwood floors might be out of your reach alone, but with the combined resources of your equally fantastic mother-in-law, it\u2019s suddenly affordable housing.<\/p>\r\n\r\n\r\n\r\n

Nuclear families now make up just 22% of American households. If buying a home in New York City on two incomes is a stretch, it’s almost impossible to imagine doing that with just one income. When you consider the booming housing market in NYC<\/a> and across the United States, it makes sense for families to think creatively about pooling resources. This extends to issues with childcare, which have become complex as work-from-home pressures and ongoing pandemic realities put pressure on families<\/a>. Having another family members living at home means they can make breakfast for the little ones while you hit those emails. <\/p>\r\n\r\n\r\n\r\n

It\u2019s not only families with kids that split the bill on housing. Until recently, SNL favorite Pete Davison famously lived in his mother\u2019s basement on Staten Island. Incidentally, he bought the four bedroom home for her in 2016 and had a self-proclaimed \u201cman cave\u201d on a lower floor that gave him plenty of room to stretch. He finally left the nest earlier this year for a two bedroom, two bathroom, 1.2 million dollar condo overlooking Manhattan. <\/p>\r\n\r\n\r\n\r\n

Is multi-generational housing for you?<\/h2>\r\n\r\n\r\n\r\n

Though it might feel a little like a step backward, moving in with family members is bursting with benefits for anyone in NYC. <\/p>\r\n\r\n\r\n\r\n

There are both personality and financial considerations to take into account here, but it\u2019s a solution that\u2019s worth evaluating. Here are some considerations to ponder.<\/p>\r\n\r\n\r\n\r\n