cnn wrote:As of 2010, 4.4 million U.S. homes held three generations or more under one roof, a 15% increase from 3.8 million households two years earlier, according to the latest data available from the Census Bureau.
Muchtolearn wrote:No chance in God's earth for peace of mind. live near. Live next door. Not under same roof. You'll be involved in too many of the tasks and decisions that shouldn't involve you.
hazlitt777 wrote:Of course it does. But it takes understanding, forgiveness and flexibility. Those are things we need to learn again. We have been living above our means for decades as Americans. We are going to have to learn to live within our means once again soon. And this will include cutting housing costs via "intergenerational living."
SnapShots wrote:Lots of positive replies. I'm rather surprised. Wanting to hear more.
bottlecap wrote:SnapShots wrote:Lots of positive replies. I'm rather surprised. Wanting to hear more.
I apologize if someone else has said this already, but the fact that you're skeptical is enough of a reason for me to steer clear. The question is whether this is how you envision living the remainder of your life, or whether you'd rather change plans to accommodate your daughter while at the same time hoping that it will be good for you.
I imagine that there are some people that would jump at the chance to live with their grandchildren and others that would enjoy the freedom of downsizing and frequent (or infrequent!) visits. Only you can answer the question and it, to me is very much a "gut" question. If your gut is telling you it's not how you want to live, that's a big sign.
Good luck,
JT
P.S. Like you I also wonder whether it would be good for your daughter. Is she recently divorced? When you're going through a hard time emotionally, living with the folks can sound good, but I would imagine that might also impede moving on.
Mudpuppy wrote:I haven't read the replies, so apologies if someone else already suggested this: Why not build your garden home on the acreage you have? Set it a comfortable distance away from the main house and put all the amenities you're looking for into it (full kitchen and bath of course). Your daughter could use the main house for her and the children. You and your husband would have the garden house so you could have private time when needed. When you want family togetherness, you could walk up to the main house or gather in a common patio/yard area.
There's a whole movement towards this idea called "Accessory Dwelling Units". Google it for some good ideas.
Jay69 wrote:A question, how much land to you have? Would it be possible to build a little lets say 800-900 sq. ft. home on the back 40?
We have a few acres ourselves and 2 teens, I could see after my kids learn to live out on thier own that moving back on the same plot may be an option. We have many farms around us who have 2-3 homes on the same land. Matter of fact my DW family farm has had 2 homes for the last 100+ years, works for them.
555 wrote:What is a "garden home"?
555 wrote:What is a "Kids-Cave apartment"?
SnapShots wrote:Jay69 wrote:A question, how much land to you have? Would it be possible to build a little lets say 800-900 sq. ft. home on the back 40?
We have a few acres ourselves and 2 teens, I could see after my kids learn to live out on thier own that moving back on the same plot may be an option. We have many farms around us who have 2-3 homes on the same land. Matter of fact my DW family farm has had 2 homes for the last 100+ years, works for them.
Definitely possible. But, the reason we wanted to sell was to get the money out of the main house, reduce expenses and work. Then move into a garden home we already own; inherited property from my mother.
My daughter and grandchildren love the land and house and don't want us to leave. We are struggling with the decision, ourselves, because we're not quit ready to downsize. But, realize we will be growing older. Know this is as good as it gets - and thought maybe we should do it while we have the energy to move.
Daughter has now proposed that she pay for the garage to be converted into a Kids-Cave apartment and that she and the boys would live in the back of the house. In addition, to the Kids-Cave apartment there are also two bedrooms plus a full bath. Daughter would have the two bedrooms. One for sleeping the other as her office and TV room. Then we would share home expenses and the yard work on the main house.
This would provide some separation for all of us but most importantly, it would provide 600 sq ft for the grandkids. A place for them to have their own TV room, video games, bedroom, shower. So, this might work. Plus, we are traveling a lot right now and are gone 4-5 months out of the year. It would make it much easier for us to leave.
But! moving to the garden home would probably still be cheaper but not something we're very excited about doing. I'm just worried about trying to live with grandkids and our daughter on a daily basis. But, we are gone a lot. And the boys are gone a lot when they visit their dad. I'm talking in circles and trying to talk myself into this.
SnapShots wrote:hazlitt777 wrote:Of course it does. But it takes understanding, forgiveness and flexibility. Those are things we need to learn again. We have been living above our means for decades as Americans. We are going to have to learn to live within our means once again soon. And this will include cutting housing costs via "intergenerational living."
The "living within our means thing" keeps changing. Some time ago, Congress changed the rules on pensions, let companies raid pension funds and underfund them; now few people have pensions and those that do may never get them. 20 years ago a SWR was 8%. A few years ago it was 4%. Now it's 2%. 2% of 1M = $20K a year; if one's so fortunate to have a million. It's not just young people who are struggling. It's also seniors who planned but the world changed in the mean time.
There are many good things about the idea of Intergenerational living. Families helping each other. And, many on this thread have positive comments about it. But, if we do this, I will miss my peaceful, early morning coffee.
/quote]hazlitt777 wrote:SnapShots wrote:hazlitt777 wrote:Of course it does. But it takes understanding, forgiveness and flexibility. Those are things we need to learn again. We have been living above our means for decades as Americans. We are going to have to learn to live within our means once again soon. And this will include cutting housing costs via "intergenerational living."
The "living within our means thing" keeps changing. Some time ago, Congress changed the rules on pensions, let companies raid pension funds and underfund them; now few people have pensions and those that do may never get them. 20 years ago a SWR was 8%. A few years ago it was 4%. Now it's 2%. 2% of 1M = $20K a year; if one's so fortunate to have a million. It's not just young people who are struggling. It's also seniors who planned but the world changed in the mean time.
There are many good things about the idea of Intergenerational living. Families helping each other. And, many on this thread have positive comments about it. But, if we do this, I will miss my peaceful, early morning coffee.But think of all the great early morning conversations you would have over coffee[
AndroAsc wrote:You got to be kidding... be prepared for inter-generational conflict and a worse case scenario a nuclear fallout in your family relationship.
Amongst more progressive/developed Asian countries, where the people are not all that traditional in terms of culture and embrace some "Western" ideals, and where such inter-generational living is common, in-laws and grandparents are cited as one of the most frequent reasons for divorce.
To be honest, inter-generational living is just ASKING for a divorce within your family.
SnapShots wrote:555 wrote:What is a "garden home"?
A garden home is built on a zero lot line. Meaning the house sits on the lot line. Typically, in my local, there is usually 20-25 feet between homes. Garden Homes are normally small (1,200-1,800) but can be any size; even very large. They have small yards and normally there is an HOA which takes care of all the outside yard work. Where do you live? I'm in a southern state.
hsv_climber wrote:Problems might start when your daughter will start dating someone and/or her kids will become teenagers.
You should be fine before that.
rrosenkoetter wrote:My dad's mother lived with us for years when I was growing up...
My mom and dad didn't particularly enjoy it (she was a crusty old woman who complained a lot), but I liked having her around. She was always available to play any board game or card game I wanted. She even taught me to play bridge.
My other grandparents lived a thousand miles away.... I don't remember them well, but I sure do have strong memories of the grandmother that lived with me. Is that a motivation to spend a lot of time with them? Maybe. Kind of nice I think to know someone still remembers you fondly even 50 years after you're dead.
rrosenkoetter wrote:"The ideal place for my parents is between the two circles... about 45 minutes away... Far enough that they don't visit all the time, but when they DO visit, they're close enough to drive home that night"
Return to Personal Finance (Not Investing)
Users browsing this forum: Epsilon Delta, hicabob, jingo, jsl11, linguini, mystika, Oilburner, orlandoman, planoguitarist, SimonJester, spotty_dog, YttriumNitrate and 45 guests