Across the country, an increasing number of households include multiple generations living under one roof: children, parents and grandparents sharing a home. According to the U.S. Census Bureau, more than 4.3% of households now qualify, compared with 3.6% in 2006. Several trends contribute to this growing phenomenon, including adult children moving back home and seniors who can’t afford to live on their own.
For homeowners in the “sandwich generation” providing shelter to their parents and children, this has changed the way we remodel homes. Some families are installing “granny pods,” mini-apartments with separate kitchens and bathrooms. Others are paying extra for medical equipment, special showers and other features appropriate for aging parents. Experts suggest incorporating the need for “sandwich generation” remodeling into the financial planning process, and being strategic when making renovations so that the home can adapt to changing needs in the years ahead.