More families are pooling resources to make buying a home possible — here’s why it’s becoming so common.
Multi-generational living isn’t just a trend anymore… it’s quickly becoming a smart way for families to make homeownership happen. According to the National Association of Realtors®, nearly 1 in 5 homebuyers last year purchased a home to share with parents, adult children, or extended family — the highest share ever recorded.
So why is this happening? In one word… affordability.
Why More Families Are Buying Together
Home prices and rates have climbed in recent years, making it harder for some buyers to qualify on their own. That’s where multi-generational living comes in. By joining forces — and incomes — families can:
- Qualify for a larger loan
- Share mortgage payments, utilities, and other costs
- Afford a better home, like extra bedrooms or a dedicated office space
Pooling resources doesn’t just make things possible… it can make life more comfortable.
Planning Ahead as a Family
Before jumping in, a little planning can save headaches down the road:
- Talk through money early. Decide upfront how you’ll split the mortgage, utilities, and upkeep — and get it in writing.
- Know your credit and income. Lenders look at everyone’s finances, so check credit scores and debt-to-income ratios ahead of time.
- Think long term. What happens if someone’s income changes or moves out in a few years? A plan now keeps things smooth later.
- Work with the right team. An experienced lender (that’s me) can walk you through programs that fit multi-generational households.
Is This the Right Move for You?
Buying with family isn’t just about saving money… it’s about creating a home that works for everyone. For some, that means space for grandparents. For others, it’s helping adult kids get on their feet. And for many, it’s simply the smartest path to homeownership right now.
If this sounds like something you’ve been thinking about, let’s talk through what it could look like for your family.
Ready to Explore Your Options?
Check out our Home Purchase Loans page for more about the buying process, or get to know our team and read client stories from families we’ve helped.
