Real estate trend: Next generational housing on the rise

Posted: Updated:
Muti-generational or next generational homes are changing the market and picking up momentum. (Source: 3TV/CBS 5) Muti-generational or next generational homes are changing the market and picking up momentum. (Source: 3TV/CBS 5)
A real estate report suggests 20-percent of people live with two or more generations under one roof. (Source: 3TV/CBS 5) A real estate report suggests 20-percent of people live with two or more generations under one roof. (Source: 3TV/CBS 5)
PHOENIX (3TV/CBS 5) -

It's a big trend in the real estate market. Two families living under the same roof but getting their own space.

Lance Billingsley is a real estate broker. He's now also part of a growing trend in the Phoenix real estate market.

"Life has changed due to an illness in my family and we have decided to purchase a home with my wife, with my daughter and my father is now my new roommate," Billingsley said.

Muti-generational or next generational homes are changing and picking up momentum.

[READ MORE: Multigenerational homes gaining in popularity]

"You would see a little mother-in-law suites here and there but there really weren't builders specializing it as you see now," Billingsley said.

A real estate report suggests 20 percent of people live with two or more generations under one roof. Billingsley saw this trend start to climb after the housing crises.

"And I think really what started this trend was people saying, "You know what? Let's go buy a house that we can all live in, give us all a little bit of space but maybe our credit covers it. We'll split the payments. We'll split the cost of living which is great for everyone,'" Billingsley said.

For Billingsley, it was the opportunity to have his dad live with that had him searching for this specific type of home.

In his home hunt, he was looking for a house that could provide two separate spaces, one for his dad, and a separate one for him and his family. It's something homebuilders are responding to.

"And it's not a room off the back patio in the backyard. It's very much its own entity in many cases. You start to see them come off the garage. You start to see them maybe replace a garage. You start to see them off the back corner of houses, just to give enough comfort of the people being close but enough distance where everyone can live their own lives," Billingsley said.

And for Billingsley, he says having his family and his dad under one roof is the best move they could've made.

"We're blessed to have him and he is the best roommate I could have!" Billingsley said.   

Copyright 2017 KPHO/KTVK (KPHO Broadcasting Corporation). All rights reserved.


  • Social Connect

  • Contact

    AZ Family