Parent-Care
I'm spending this week with my mother in Wisconsin taking care of her as she recovers from hip surgery. This is her third hospitalization in four years and I'm really questioning whether her living alone is a good idea. Don't get me wrong, I have no desire to live with my mother. She smokes like a chimney for one thing and I'm allergic to cigarette smoke, so that's a deal-breaker right there. But I would be happier if she were closer to me. Perhaps in the next house over so I could check on her once or twice a day - just to keep an eye on things.
Custom-Housing
But how often do we really have the opportunity to buy two houses side-by-side? Not very often. If you're not interested in a multi-family property, then you're stuck with either new construction or recently converted condos (and with my mother, it's only the former since she refuses to live in a condo).
Common Issue
And I am not alone. Many of my friends are going through the same issues that I am, and as the Baby Boomers age, this is going to become even more prevalent. And currently, there are very few ready-made solutions to be had. So here is my thought.
Re-Visioning Real Estate
Let's start thinking about real estate less as a nuclear family structure and more as an extended family formula. This means that we should be looking at creating new construction complexes built around a central gathering space; and where the design of the land encourages walking within the neighborhood (parking around the edges only). We should have larger houses built next to smaller, single-story, handicap-accessible houses. Because, let's face it, I am not the only person who doesn't want to live with her mother.
Market Niche Alert!
You want to get a lock on the market for the next 20 years or so? Start buying up properties next to each other. Renovate them so that they fit this scenario and then put them up for sale as a bundled purchase (but don't combine the deeds - you'll lose value if you do). Or, even better, find a forward-thinking builder and start building communities of your own.
For More Information About This Topic, Visit These Resources:
Cohousing: A Contemporary Approach to Housing Ourselves
Senior Cohousing: A Community Approach to Independent Living (Senior Cohousing Handbook: A Community Approach to Independent)
Reinventing Community: Stories from the Walkways of Cohousing
The Senior Solution: A Family Guide to Keeping Seniors Home For Life!
Aging In Place, Safely living in Your Home Until You're 100 Plus
www.Cohousing.org
Up and Coming Market Alert
5 comments • Kelle Sparta, Real Estate Trainer and Coach • June 03 2009 02:10PMComments
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Interesting thought, as I have been running back and forth to visit my mother in rehab for a severely broken femur bone. Hope your mother recovers quickly and stays clear of further mishaps.
Over the years, I've had 3-4 buyers inquire about buying homes next to each other, townhomes or singles.
I actually sold two new homes in Fairfax Virginia to a family, one for the parents and one for the next generation.
However, it's rare. Most folks, in my experience, want to be nearby but not that close.
You are absolutely correct. As hard as it is to watch our parents get old we do have some responsibility to help in their care. More and more we are seeing retirees migrate back north from Florida to be with their families.
Hi Kelle ~ Years ago my parents went through this. They bought a colonial in Concord that had a beautiful sort of modernist apartment added on to the back. It was essentially two houses - one big, one small connected by a long sloping hall lined with closets. My grandmother sold her Cambridge house (oh if only we had kept it!!) and moved in. It remains one of the nicest inlaw setups I've ever seen. You would think more of these would be built. Good luck with finding the best solution for your mother.
Liz
Thanks for your concerns about my mother. She is healing well and I am back home again finally getting back on track for my life too. This would have been much easier if she lived closer though. Perhaps Lenn is right. Perhaps the solution isn't an inlaw apartment but perhaps a lake community where on one side is the parental area and the other is the kids, so both are encouraged to take walks around the lake to visit.