The Advantages of Three Generations Living Together

In some cultures multiple generations living together, is the norm, rather than the exception. Because there are so many advantages to this style of living, it's a wonder that more people haven't adapted to it. The following are some of the advantages to shared living:

1.Financially it helps all those involved as they pool their resources for overhead such as mortgage or rent, electricity, gas, cable, phone, internet and any other costs. By doing it this way, per family costs are greatly reduced.

2.Keeping the yard and house maintained is easier too because there are more people available to help.

3.When expenses are shared, each family can save more money for extra things, i.e.: cars, trips or a house of their own.

4.There are always babysitters available for the younger children.

5.There is not so much wastage as when cooking; there's always someone to eat the leftovers.

6.Cars, clothes and other things can be shared.

7.It helps family members each build up equity, if that's the way they've set it up but at the very least, to be able to save for a down payment.

Three of my children and myself did this although it wasn't one house we shared. Together we bought a fourplex and each family group had their own private space. But we all contributed equally to the mortgage and monetarily and physically to maintenance of the yard and the building. When painting and other things had to be done, we all pitched in. There was always someone available for babysitting; my daughter and I shared clothes, and we didn't have to go very far to celebrate Christmas, Easter , Thanksgiving and birthdays.

It helped to maintain the closeness we already shared although admittedly it could go the other way too. Even though we were family we drew up a list of rules when we bought the fourplex to help eliminate any potential problems there might be in the future. We determined designated parking spots, how it would be handled if one family group didn't want to be involved any longer and how we would handle it when there was a decision made to sell it. We also had rules concerning if at any point it became a rental unit. We set up a bank account that dealt with mortgage payments and bills relating to the property only. And a separate file was kept for everything relating to our joint home. One person was designated to oversee things but family meetings were held regularly.

After joint ownership of twelve years, the fourplex was eventually sold as families began to want and need more space, and the equity was divided. Each of my children who were involved, had a sufficient amount for a down payment for their own home. And I went on to purchase another home with another son who was too young at the time to be involved. He now has the opportunity to get into the housing market as well.

Sharing, cooperating and working together was a win-win situation for everyone in our family. However, for most it will require tolerance, patience. humor and a common goal in order for it to work. But it can be fun and it is definitely doable.