Why Are Multigenerational Homes on the Rise?

With the housing crisis in Toronto, multi-generational homes are now the new norm with adult children moving back in with their parents. Renovating your home to accommodate for family moving in is the perfect solution and Astaneh Construction offers a wide range of home upgrades and modern customizations.

What is Multi-Generational Living?

Multi-generational living is when more than one generation in a family is living in the same home. This could be parents, grandparents, and children at the same residence. Many cultures are accustomed to this living arrangement, but for others, this is a new and sometimes unwelcomed concept. Moving back in with mom or dad was once frowned upon or embarrassing, but now it has become a brilliant solution for affordable housing. The basement which was once a spot for family entertainment and recreation has now become a living suite for adult children and their new families. Visits to the grand-parents for a traditional meal are now just a flight of stairs away as inter-generational homes increase all over the city.

The Toronto Housing Crisis

For centuries, the North American dream became synonymous with getting married, having kids and buying the house with the white picket fence. Moving out of your parents’ house was an exciting time and paying off for a mortgage in twenty years was achievable. Times have definitely changed.
It is very common for Millennials and Gen Z residents to hear their parents tell them stories of buying their first home at 25 years old and how they were able to provide for their children. Currently, a room for rent in Toronto receives hundreds of calls daily from interested tenants. When homes are listed for a decent price, the bidding war makes the process, on top of rising mortgage rates, far from an obtainable dream. The Toronto Housing Crisis is a serious issue that no one was prepared for.
This has been a burden for many young couples and families as they struggle to try to achieve what their parents did in a very different economy. While many new families eagerly wait for Toronto housing prices to drop, they have found themselves back in their parents’ home.

Increase of Multi-Generational Homes in Toronto

What has caused this rise in multi-generational homes? According to the Canadian Real Estate Association (CREA) the cost of purchasing a home in Toronto just five years ago was $746,500 now, in 2024, that number has gone up to $1,065,800. Despite it becoming a popular world class city, there is indeed a serious housing issue in Toronto. Groceries, gas, electricity bills, etc., the cost of living has gone up astronomically and moving back in with parents has become the only way to survive for many.
Jennifer, a local Toronto resident, recently moved back in with her parents along with her 15-year-old daughter. Unaffordable home prices and sky-high rent forced her back to square one and the bedroom she grew up in has now become her daughters’ new room The expensive rental prices had her on the verge of bankruptcy and by moving back in with her senior parents, she has been able to have some financial freedom. Although her 75-year-old mother loves the company of her daughter and grand-daughter, it was not the life plan for any of them. They have created one of the many multi-generational homes in the city and are doing their best to make it work.

Designing Multi-Generational Homes with Astaneh Construction

At Astaneh Construction, home improvements and renovations are what we do best. We have been providing outstanding and exceptional construction services in Toronto and around the GTA for many years.

New Solutions for Future Generations

Many young families in Toronto have decided that moving back home with parents is the best living arrangement. Living with extended family is a great way to lower living expenses and a wonderful way for everyone to be closer together.

During COVID-19, many families said that they were happier living with a large family and became closer to their loved ones. Grandparents enjoy living with their grand-children and new parents are happy to have the benefits of receiving childcare from family members.

At Astaneh Construction, we provide the best design and planning services to residential, commercial, industrial, and mixed-use sectors in the GTA. Our home renovation experts provide the solutions you need to help combat the rising cost of living in the city. We can help you modernize your basement with renovations or complete a new home addition to provide a comfortable environment for the younger generation.

As the housing issues in the city persists, multi-generational housing may only continue to increase. Most of the houses purchased by baby-boomers are now paid off and it makes sense for their children to move in with them into a mortgage free home. All parents want the best for their children and grand-children. Offering them somewhere to live and financial peace of mind is priceless.

When you hire our experienced renovators, we provide you with the new space and upgrades your family desires. We are the ultimate solution for all your home renovation needs. Choose Astaneh Construction for your home renovation custom home project today!