There is a new trend on the rise in Northern California, and that trend could result in the need to purchase a larger home or make several additions to your existing home. More and more people are moving mom and dad into their home, and this trend is only expected to continue into 2015.
Analysts are saying that baby boomers have turned roles and are now providing care for their aging parents and in-laws. This increase began back in 2012 with the addition of in-law suites being added on to homes. In 2014, 46% more homeowners were adding in-law suites to their existing homes. In addition, the need for ramps and elevators increased to 38% in 2012 to a whopping 51% in 2014. These are just some of the additions that are becoming more popular with those who are looking to add in-law live- in suites to their homes. There was also an increase in the size of the home being purchased, particularly in San Francisco.
An in-law suite is an addition that adds a master bedroom and a bathroom to the home. This type of arrangement gives all individuals privacy, yet still keeps them close together. It is also far more affordable than selling a home and purchasing something new.
Although approximately 80% of all seniors in the Northern California reside in their own home, the increase in parents moving in with their children is certainly worth noting. The new trend has saw a 5% increase in the number of baby boomers caring for their aging parents inside of their home, with an expected increase to 7% for the coming year. There are a number of benefits found with parents moving in with their children, including less worry and far more convenience. In addition, less medical costs are endured when parents are in the home with children.