*[aka Accessory Apartment, ADU, Backyard Cottage, Accessory Dwelling Unit, Accessory Suite, Carriage House, Basement Apartment, Ancillary Unit, Dawdy House (Amish term), Garden Cottage, Garden Suite, Grand Retreat (a commercial name), Granny Cottage, Granny Flat, Home Within a Home (used by Lennar marketing), In-Law Suite, In-Law Unit, JADU or Junior Accessory Dwelling Unit, Laneway House, Mother-in-Law Apartment, Multigenerational Home, NextGen (another term by Lennar), Ohana Unit (Hawaii term), SDU, Secondary Unit (Canadian term), Sidekick, Tiny House, Two-Family House]
The multigenerational home is a safety net, of course. The bigger story is how it reflects the economic benefits of multiple generations living under one roof. For one thing, pooling financial resources among the generations is a smart way to lower the overall cost of home ownership. That’s before taking into account built-in child care (at least for emergencies and date nights) and easy monitoring when aging parents turn frail. Shared ownership allows young adults to build up savings and the older generation to draw down less on retirement savings. Little wonder multigenerational homes are common among immigrant families.**
"Hey Mom. Have you and Dad given much thought to possibly coming to live with us?"
Those are words that are being spoken more and more by children to their parents. According to my research...
*Quoted from accessorydwellings.org
**Quoted from Family & Home "The Sensible Resurgence of the Multigenerational Home" August 2014
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