Coldwell Banker Kasey Associates

The children of American families once prided themselves on growing up and moving out, but more young families today find themselves moving back in with their parents—long after they get married and have their own children. AARP reports that the number of households nationwide with more than two generations expanded from 5 million in 2000 to 6.2 million in 2008. The National Association of the Remodeling Industry (NARI) says that home remodels can help families accommodate these changing living situations.

Survey Results Indicate Multi-generational Trend

Multi-generational remodels can be a smart investment. Demand is rising for multi-generational housing as buyers scale down and reign in expenses, according to a survey by Coldwell Banker Real Estate in Parsippany, N.J. In fact, 37 percent of the company's real estate agents polled in January said that in the past year, buyers were increasingly shopping for homes that fit more than one generation.

Almost 70 percent of the 2,360 agents polled said they expect economic conditions will continue to drive demand for this type of housing over the next year. Financial drivers are the primary reason why multiple generations are moving in together, but health care issues and strong family bonds are also factors, the poll showed.