Living in Intergenerational Households

One of the best parts about retirement is that you can adjust your lifestyle to live the way you want. For a lot of retirees, this means spending more time with family. There are a lot of ways to do this, but more and more people are returning to the idea of living in multigenerational homes.

Decades ago, in the early part of the 20^th century, living in a home with your parents or your adult children was quite common. In the second half of the century, after World War II, trends changed. However, there are a lot of reasons why living in a home with family members of different generations is becoming commonplace once again.

Benefits of Intergenerational Living

There are a lot of reasons why you may want to consider living in an intergenerational household in retirement.

Cost

• The cost of living in most areas has been rising significantly in recent years. That makes it tough for people to afford living in their own homes. For this reason, many retirees who downsize in retirement choose to live with their adult children, rather than on their own.
• The savings work both ways, as well. Monthly expenses are significant these days, so having your parents or in-laws live with you can also mean getting their financial help with groceries, utilities, and other costs. 

Companionship

• The modern world can be quite lonely. This is true for seniors, but it’s also generally the case in society. By living in multigenerational homes, people are building stronger relationships with their family and maintaining tight social bonds. This is good for your happiness and mental health.

Caregiving

• If your adult children have their own kids, living in the same household has significant caregiving advantages. Grandparents can look after their grandchildren, helping them bond while also taking some stress off the parents.
• As the retirees age, the situation may change. They might now need care from their children. This is much easier to do if you’re living in the same household. Not only is it more convenient, but it can also reduce costs since you won’t need to pay a separate caregiver. 

Travel

• Retirees will likely want to visit their children and grandchildren. When you’re living in the same household, this saves travel time and costs. It simply becomes much more convenient to spend time with your family. You’ll be able to share everyday life with ease.

However, while there are many reasons to live in an intergenerational household when you retire, that doesn’t mean there aren’t challenges. 

Potential Challenges 

Of course, like with nearly every situation, there are also possible challenges and drawbacks associated with intergenerational households. By being aware of these possible issues, you can take steps to mitigate them.

Less privacy

• The more people you live with, the harder it can be to find your own personal space. Everyone needs some time alone sometimes, and it can be quite stressful when your house is always full and there isn’t anywhere you can go to be by yourself. 

Lifestyle tensions

• Everyone lives in their own way. Your routines, values, and lifestyle could very easily be quite different from your parents or your children. Even simple things, such as the time you eat dinner (and even what you eat) can cause potential tension. 

Caregiver burnout

• For retirees who move in with their children and grandchildren, they may be expected to be the babysitter for young children. This can be helpful and enjoyable, but it can also get overwhelming. If your adult children expect you to stay home with the kids every evening, for instance, that can negatively affect your own lifestyle. Plus, childcare is tiring.
• Adult caregivers can also experience burnout if they are providing care to their parents while also taking care of their kids. 

Space constraints

• Overcrowding is stressful. When family members don’t just bring themselves, but also all their “stuff” into a shared household, it can quickly become overwhelming. 

Financial Concerns

• If you’re living under one roof and sharing the costs of doing so, there will be times when your financial plans don’t align with everyone else in the house. This could be something small (like believing that someone else orders takeout meals too often) to larger concerns like how to manage the overall budget. 

Understanding these potential downsides and planning strategies to deal with them (regular discussion, creating “house rules”, or making physical changes to the home) can make living in an intergeneration household in retirement easier.