I’m not going to go out there and say it is an inevitability, but you may find yourself trying to find space for the whole family. And when we say “whole family” we’re not just talking about being told you are having triplets! As baby-boomers’ parents continue to age (and live longer lives), housing is becoming an expense they are not willing (or able) to sustain. The conversation about millinnial children going back to live with their parents after college is becoming a common one. The aging parents conundrum is just starting to gain some steam.
Often times the reason is due to failing health or sickness. With parents that require more “care” than an occasional visit, co-habitation is often the best option. Often the savings realized by sharing the housing can be shifted over to a live-in caregiver or other service that would otherwise be unaffordable.
In a recent survey conducted by the American Institute of Architects, dedicated guest rooms have been gaining popularity over the past few years. In 2014, 39% of those surveyed (of more than 500 residential architecture firms) indicated they were seeing more demand for this feature, compared with 26% who said the same in 2013 and 10% in 2012. Also getting hotter: Home features that accommodate multiple generations and age-in-place features.
This is not to say that housing is any more expensive than it was in the past, the truth is we are simply living longer and the statistics point to a larger group of the population co-habitating. The end-result for those of us with aging parents, is to begin planning now for remodeling or addition projects. These projects may not be “necessary” for our family in the future, but we can feel very good about the demand for them should we decide to sell our Fort Collins home.