According to new census data from Statistics Canada, the number of homes shared by multiple generations of family has grown by 45% in the past twenty years.
There are many reasons we are seeing growth.
Retired Parents – Are selling their homes and pooling finances with their kids to be a larger part of their grandchildren’s lives.
Home Affordability - Families are pooling their finances for their kids and grandkids to be able to own a home.
Ageing Parents – With having parents living in an in-law suite allows their loved ones to keep a close eye on them and help when needed. Not all seniors are able to afford care homes.
Sharing Expenses - May make good financial sense.
Independent Living - Basements suites/in-law suites allow families a sense of independent living while living in the same home with their family.
Suites – Have their own kitchen, full bathroom living area and often will have a separate entrance and separate laundry.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.