Home Ownership Still Trumps Apartment Life—Especially IF there's a Spot for Grandma!

By
Real Estate Agent with REMAX Specialists Minnesota License#90858

Homebuyers for Multigenerational Acreage Homes

 
Minnesota Acreage Home by Teri Eckholm REALTORWhen I started selling real estate over a decade ago, one of my very first clients was a family: mom, dad, two daughters, three horse AND a grandma! My goal as a REALTOR® was to find a home on acreage that accommodates horses within the Forest Lake School District that had a mother-in-law apartment for grandma. There weren’t too many options at the time. Sure the market was overloaded with McMansions on small lots but few homes were designed to accommodate a multigenerational family with horses. We did eventurally find a Scandia home that would work…but it was not ideal. About a year later, an administrator at my sons’ school had a discussion with me about the difficulties his family was having finding a home in the Mahtomedi school district that would have a special place for his mother-in-law.  There was no need for acreage for this family, yet they were struggling to find a home that met their multigenerational needs too.
 
Over the years I have seen single family homes with mother-in-law apartments scattered throughout Anoka, Chisago and Washington Counties. Not too many homebuyers were impressed by a second kitchen in the basement unless they were truly looking to have a separate home within their home. Yet, on more than one occasion, I have had clients seeking such a house; one that accommodates a returning college student, a relocating relative or an adult child with grandchildren.
 
I was reading a Forbes.com article about how home ownership still trumps apartment life this morning…Don’t Bet Against the (Single Family) House. I was pleasantly surprised that many builders are now recognizing a trend toward the multigenerational home. Due to the changed economy, it is often a way to the pool resources of family members while continuing to give everyone their own space. The thing I like most about this trend is that homes will be designed specifically to include the separate living space. Most of the homes that I have viewed over the years with a mother-in-law apartment were a turn off because the space was ill conceived by the owner. The home was originally designed as a single family home but due to family circumstances the home was altered to include a kitchen, bedroom, laundry, bath and separate entrance…and viola, “we have an apartment for mom!” Unfortunately, these poor designs don’t sell well.
 
As a REALTOR® will be watching to see the floor plans of these new multigenerational homes. Hopefully, the floor plans will be adopted by builders on Minnesota acreage so if families moving with grandma and the horses will have more options than before!

 

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If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Theresa "Teri" Eckholm, a call or visit my website for a FREE Relocation Packet or FREE Homebuyers Success Packet.   I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

 

Buying a Home? Check out my HOME BUYER'S BLOG!

Copyright 2014 Teri Eckholm http://www.terieckholm.com/

 

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Topic:
Real Estate General Information
Location:
Minnesota Washington County Forest Lake
Groups:
Realtors®
Posts to Localism
Minnesota Real Estate
Internet Empowered Consumer
BananaTude
Tags:
rent vs buy
multigenerational homes in minnesota
mn acreage realtor
buying a forest lake home
american homeownership

Comments 3 New Comment

Rainmaker
563,794
Kathy Sheehan
Movement Mortgage 770-634-4021

I believe there will be a greater request for multi-generational properties in the future.

February 29, 2012 11:00 AM
Rainmaker
538,913
Lee & Carol Barbour, REALTORS
Mountain Living Team in Murphy NC and North GA
Murphy and Hayesville, NC; Hiawassee, Blairsville, Blue Ridge GA and Copperhill TN

Multigenerational homes are being sought out in our market by retires wanting a separate living space in the lower level for family and friends visiting. And you never know when a family member will need to move in theses days!

February 29, 2012 07:01 PM
Rainmaker
1,365,478
Tom Braatz
Waukesha County Realtor Real Estate agent,Waukesha
Re/Max Realty Center 262-377-1459

Teri

I see those as well; nice to see families with multi generations in the house

March 03, 2012 02:22 PM
Rainmaker
597,280

Teri Eckholm

Acreage & Lakeshore REALTOR Minneapolis St Paul
Looking to buy or sell in the Twin Cities? Contact Me Today!
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Additional Information

Theresa "Teri" Eckholm/REMAX Specialists assists Minnesotans to find their way home with helpful tips and quality service. Dedication to customer service has made Teri the REALTOR® of choice for families in Blaine, Forest Lake, Ham Lake, Lino Lakes and Wyoming areas. Licensed in MN.


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