Builders are revamping product offerings to serve families with multiple generations living under one roof. Faced with demographic changes, they're moving in with new ideas on how to accommodate this growing segment of the population. Lennar Corp. is one an example of a homebuilder practicing innovation at a time of great change, according to John Burns, chief executive of John Burns Real Estate Consulting. Lennar is now selling what it calls a home-within-a-home. The company is offering houses that feature a full home connected to a smaller apartment. The home-within-a-home concept is designed to give families more versatility in living arrangements. For example, if grandma or grandpa moves back in, the NextGen home offers them a private suite with a bedroom, living area, kitchen, bathroom and a separate patio. The living areas are separated by double doors, for example, if more privacy is desired. Prior to the baby boomers, adulthood was not defined by owning your own property. In fact, older generations stayed within the confines of the family unit. At the time, this arrangement was considered a sign of prudence and fiscal conservatism since it gave older generations a place to stay and younger generations a place to live, while saving money to secure a solid future.
Source: Yahoo Finance