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PulteGroup Survey: Mom And Dad Anticipate Future Roommates

Stocks in this article: PHM

BLOOMFIELD HILLS, Mich., Oct. 17, 2012 /PRNewswire/ -- A new PulteGroup Home Index (PGHI) survey by national homebuilder PulteGroup, Inc., (NYSE: PHM) shows that twice as many households as today will experience their adult children or aging parents moving in at some point in the future. 

(Photo:  http://photos.prnewswire.com/prnh/20121017/DE93267 )

PulteGroup recently surveyed two demographics: those with children aged 16-30 and those with living parents.  Among respondents with grown children, 14 percent already have "boomerang kid" roommates (a young adult who moves back into their parent's home after a period of independence), but a full 31 percent expect that at least one child will be returning to their home in the future.  Among those with living parents, 15 percent of the survey respondents already have aging parents living with them, but more than twice that number, 32 percent, expect to eventually share their home with a parent.  

PulteGroup's Del Webb, Pulte Homes and Centex communities have seen an increase in multi-generational households during the past several years, and the company's research shows that this trend is expected to grow significantly.  While financial reasons are a common cause for this trend, the company found that a high number of households had parents move back in as a deliberate choice to enhance familial relationships and build a better bond among the generations.

Making Room for More Family Members Because a growing number of homeowners are expecting to accommodate a larger family in the future, those surveyed said they plan to adjust their living space by either renovating their existing home or purchasing a new home.

  • 72 percent of those with aging parents currently living with them or planning on it in the future will renovate or purchase a new home
  • 49 percent of homeowners with adult children currently or planning to move back in will renovate or purchase a new home

"Adjusting to more family members in your home can be a challenge," said Scott Thomas, national director of product development for PulteGroup.  "Offering flexibility is key, as well as options such as dual master suites to larger great rooms, it's important that homebuilders understand how to best meet the demand of multi-generational households."

The survey also revealed that separate living space for extended family is very important to women compared to men (62 percent and 46 percent, respectively).  Respondents noted that the most important features to comfortably support an extended family include separate living spaces, such as a mother-in-law suite, additional bathrooms and larger great rooms.

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