Many reports have centered on the upswing in adult millennial children moving in with their parents. But as these young professionals finally move out and form their own households, they may find that baby boomers parents may soon coming knocking with moving bags in hand.
The American Institute of Architects found that dedicated guest rooms, including in-law suites, have been surging in popularity over the last few years. In 2014, 39 percent of the AIA’s more than 500 residential architects surveyed said they were seeing more demand for in-law suites, which might include a second master bedroom suite with a bathroom or an attached apartment-like structure. By comparison, in 2012, the percentage stood at only 10 percent.
“As many households become caretakers for aging relatives, separate living suites have become popular options for accommodations,” says Kermit Baker, chief economist for the AIA.
The AIA also says that home features accommodating multiple generations and age-in-place features are growing in demand.
Six percent of U.S.-born seniors live with relatives, and the trend is even more popular among immigrants. Twenty-five percent of foreign-born seniors live with relatives, according to a survey conducted by the real estate site Trulia.
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Source: MarketWatch 11/18/2014