I’ve been seeing a lot of “news articles” saying home buyers, especially first time homebuyers are screwed. Could they be screwed, definitely. But what if instead of being screwed, what the market needs is alternatives to traditional finance?
The first alternative to traditional finance is to go back to the future and have multi-generational housing. In America we’ve developed a culture of kicking out or moving far away from the best caregivers our kids could possibly have, our very own parents. Hence, why my first thought is that instead of spending $3k a month on daycare for 5 years, put that same money towards an in-law suite and bring all that love home.
Now that I think of it, the rest of my solutions are all some slightly different version of Threes Company, Golden Girls, Living Singles or The Big Bang Theory. Culturally friends and families have been physically isolated via construction design. And while its great to be living out your version of the American Dream, could your dream be better if your closest friends were part of it?
Hence, why at MattBeth Construction we’re seeing more of a demand for redefining “Community Development” which looks a lot like, Extended Multi-Family Housing. Because if you have a close-knit group of 3-5 friends and you’re all in the same boat trying to purchase your first single family home, the solution is obvious.
What would happen if you all asked your grandparents to go in together to buy or build a 10-unit multifamily building?
And just like that, first time homebuyers go from being screwed, to being savvy.
#multifamilyrealestate #FamilyConstruction #familyhousing #generalcontractor