Are you a part of the Sandwich Generation? According to Realtor.com, that’s a name for the roughly one in six Americans who take care of their children and their parents or grandparents at the same time.

If that sounds familiar to you, juggling all the responsibilities involved certainly must have its challenges. But it turns out there’s one pretty significant benefit: it can actually make it a bit easier for you to buy a home.

How Can It Help You Buy a Home?
Realtor.com asked members of the Sandwich Generation if they agree or disagree that taking care of children and parents at the same time is helping them afford a home. A third of respondents said their situation made it easier to buy.

Here are a few ways their caretaking situation might be helping those 33% buy a home:

Sharing Expenses
If you live in a multi-generational household, you can pool your resources and split the costs. Your parents might contribute to the mortgage or help with other bills. This can make a big difference, especially in today’s housing market. It may help you afford a larger home than you could on your own.

Built-In Childcare
Having grandparents in the home could also save you money on childcare. They can help watch your kids while you’re at work, which means you can save on daycare costs too.

Beyond Financial Reasons: Additional Benefits of Buying a Multi-Generational Home
Beyond just the financial reasons, buying a multi-generational home has other advantages. The Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) highlights some of the most popular, including:

Easier To Care for Aging Parents
It’s more convenient to take care of someone when you live with them. Also, your elderly parents may very well be happier and healthier, thanks to more social interaction and a feeling of connectedness.

Spending More Time Together
Once you live together, you get to spend more time and create even more lasting memories with your loved ones.

The Mortgage Reports sums it up this way:
“Buying a house with your parents can be a great way to ease caregiving, support young children, or simply bring loved ones closer together. And considering the steep rise in home prices over the last few years, it can make homeownership a lot more affordable.”

How a Real Estate Agent Can Help
If you’re in the Sandwich Generation and thinking about buying a multi-generational home, working with a local real estate agent is essential. Finding a home that works for so many people can be tricky. An agent will use their expertise to help you find one that meets the needs of, and has enough space for, everyone who’s going to live there.

Key Considerations for Multi-Generational Homes
When searching for a multi-generational home, consider the following:

Space: Ensure there is enough room for everyone to have their own space. This includes separate living areas, bathrooms, and possibly even separate entrances for privacy.
Accessibility: Think about the needs of elderly family members. Look for homes with minimal stairs, wide doorways, and other accessibility features.
Proximity to Services: Consider the proximity to schools, medical facilities, and other essential services. Being close to these amenities can make daily life more convenient for everyone.
Future Needs: Plan for the future. Think about how your family’s needs might change over time and choose a home that can adapt to those changes.

Bottom Line
Being a part of the Sandwich Generation comes with its challenges – but it also might come with one truly great perk. If you’re looking to buy a home, your caregiving situation can actually make it a bit easier for you to afford a home.

To learn more and explore your options, reach out to a local real estate agent. They can help you navigate the complexities of finding the perfect multi-generational home that meets all your family’s needs.