For many families, and in many cultures, multigenerational living is a cherished aspect of home life, improving a family’s overall wellbeing. Research indicates there can be financial benefits to multigenerational living, and when executed intentionally, having multiple family members under the same roof can help improve health outcomes, reduce loneliness, and bolster educational outcomes for children.

While multigenerational living has many positives, it also comes with a unique set of financial and planning needs. Below are some financial considerations for people living in multigenerational households and those considering moving in with family members.