The PulteGroup Home Index (PGHI) survey was conducted online by Russell Research from Sept. 7 - 10 among 511 homeowners across the U.S., ages 35 and older, with children between the ages of 16 – 30. Additionally, the survey was conducted among 550 U.S. homeowners, ages 18 – 65, with living parents. Chart courtesy of PulteGroup.
Twice as many households as today will experience adult children or aging parents moving in at some point in the future, a new survey by national home builder PulteGroup shows.
The PulteGroup Home Index survey polled two demographics: those with children aged 16-30 and those with living parents. Among respondents with grown children, 14 percent already have “boomerang kid” roommates (a young adult who moves back into their parent’s home after a period of independence), and 31 percent expect that at least one child will be returning to their home in the future.
Among those with living parents, 15 percent of the survey respondents already have aging parents living with them, and more than twice that number, 32 percent, expect to eventually share their home with a parent.
PulteGroup communities have seen an increase in multi-generational households during the past several years, and the company’s research shows this trend is expected to grow significantly. Financial reasons are a common cause, but PulteGroup also found that many households deliberately had parents move back in to enhance familial relationships and build a better bond among generations.
Those surveyed who expect to accommodate a larger family in the future said they plan to adjust their living space by either renovating their existing home or purchasing a new home.
Of those with aging parents currently living with them or planning on it in the future, 72 percent said they would renovate or purchase a new home. Of homeowners with adult children currently living with them or planning to move back in, 49 percent said they would renovate or purchase a new home.
“Adjusting to more family members in your home can be a challenge,” said Scott Thomas, national director of product development for PulteGroup, in a statement. “Offering flexibility is key, as well as options such as dual master suites to larger great rooms; it’s important that home builders understand how to best meet the demand of multi-generational households.”
Survey respondents noted the most important features to comfortably support an extended family include separate living spaces, additional bathrooms and larger great rooms.