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April 2017   Volume 43, Number 4      
 

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Next-Generational Homes Are the Latest Real Estate Trend

Allowing two families to live under the same roof is now a big trend in the real estate market, according to Lance Billingsley, a Phoenix, Ariz. real estate broker. Multi-generational or next-generational homes are changing and the number of homes built in this style is increasing.

“You would see a little mother-in-law suite here and there but there really weren’t builders specializing in it as you see now,” Billingsley said. A real estate report suggests that 20 percent of people live with two or more generations under the same roof. Billingsley says that he saw this trend start to take off after the housing crisis. He says that a big incentive for people seeking homes with these living arrangements is the ability to split the mortgage payments.

Billingsley himself decided to buy a home this way after his dad became ill and he felt it would be best if his dad came to live with him. But he also wanted a house that could provide separate spaces, one for his dad and one for him and his own family.

Billingsley also predicts that in the future, separate living spaces will replace the garage of multigenerational homes and possibly be located off the back corner of houses. These design options allow family members to be close while still being able to live their lives independently.

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In this issue:

Top U.S. Markets for Buying and Selling Real Estate

Big Institutions Sell off Commercial Real Estate

Fed Chair Says Rising Real Estate Prices Put Small Banks at Risk

Iowa Realtor Warns Agents about Email Scam

Mortgage Delinquencies Spike among Some Homeowners

Next-Generational Homes Are the Latest Real Estate Trend

Silicon Valley Is the Top U.S. Real Estate Market

Top Three Legal Issues Facing Brokers

Trump Cut Causes FHA Applications to Decline by 3.2 Percent

Real Estate Agents: Stop Commoditizing Your Services



 


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