There is a niche market in real estate for multi-generational housing. During the recession when you thought about a multi-generational home, the first thought that might occur would be children moving back home with parents because of the tough economy, underemployment, divorce and so on. But the need for a home that would accommodate more than one family was there before the downturn and the need still exists today, with our aging population.
We often see homebuyers who consider the possibility of an aging parent moving in with them at some point in the future and include that factor in their home search criteria, but rarely find suitable accommodations for an older relative.
Too often, a bedroom on the main level won't offer the space needed or provide the feeling of having a private space. Finished basements typically involve stairs, which can be a problem with access and mobility. A detached guest house or small addition can be perfect, but don't typically exist in a subdivision.
There would be demand for a product with more than one master suite or a true in-law suite setup with living room, kitchen and separate access.
As the economy in our area continues to improve and builders return to strong levels of construction, as they seem to be doing, a builder who seeks to fill this vacant need in housing would certainly reap the rewards.
Bob Strader is a local realtor with the NORTH Group of Keller Williams Realty. Visit his blogs liveincumming.com or liveinalpharetta.com or email him: firstname.lastname@example.org.