Homebuyers Split on Preference for Multi-Generational Homes
Washington, DC, April 12, 2021-When it comes to the desire for a home designed to house the buyer as well as a younger generation and an older generation, home buyers are split down the middle, reports the National Association of Home Builders (NAHB).
According to What Home Buyers Want, 2021 Edition, 39% would prefer such a home, but 39% would be against it. The remaining 23% are not sure how they feel about a home designed for three generations.
One of the factors most likely to influence a buyer’s preference for a multigenerational home is race/ethnicity. Among Hispanic buyers, for example, 53% are in favor of buying such a home, compared to 27% who would oppose it. Among African-American and Asian buyers, 50% and 46%, respectively, would prefer a multigenerational home, significantly higher shares than the 30% and 29% who would be against the idea, respectively.
In contrast, among Caucasian buyers, only 35% of buyers would prefer a home designed for multiple generations, compared to a larger 42% who would not prefer that option.