Community Impact spoke with Justin Jacobs, president of Grand Endeavor Homes, a multigenerational home builder that has built several communities throughout Central Texas, about the growth in demand for a housing model bringing multiple generations under the same roof.
What is multigenerational housing?
Generally speaking, multigenerational housing consists of a floor plan that can accommodate more than one adult generation of family members within one residence. This can include parents, grandparents, extended family members and in-laws.
What do you think is driving an increase in demand for multigenerational housing?
With the rising cost of housing and commodities, more families are pooling resources to afford purchasing or constructing a new home. Additional reasons include caregiving needs, cultural tendencies and enhanced social interaction.
Are there any parts of Central Texas where multigenerational housing is in high demand?
I am not aware of any trends specific to Central Texas; however, Texas as a whole has the third highest demand for multigenerational housing in the country.
How does multigenerational housing impact the housing market?
The demand for multigenerational housing has had a direct correlation in demand for larger homes. This limits feasible options for clients as they explore multigenerational plan alternatives, which include renovation of an existing home or the design of a customized plan for new construction to fit their specific needs.
What should buyers know about multigenerational housing?
A multigenerational plan represents a specific custom floor plan configuration that may lead to a smaller potential buyer pool whenever the time comes to sell the property.
How has multigenerational housing changed in recent years?
The scope of complexity for multigenerational housing has expanded in recent years. Beyond just having dedicated “multigenerational” space within a residence, current projects now often include an independent bedroom, bathroom, kitchen, living room, office, storage and even dedicated garage space within the floor plan.
